Kingfisher reports profit on the back of strong revenue growth in 1QFY2011

Kingfisher Airlines revenue up 29% - financial/traffic highlights for the three months ended 30-Jun-2010:

• Total revenue: USD357.6 million, +21% year-on-year;
  • Operating revenue: USD348.0 million, +29%;
• Total costs: USD412.4 million, +13%;
  • Total operating costs: USD330.4 million, +6%;
    • Fuel: USD124.4 million, +42%;
    • Labour: USD34.6 million, -14%;
• Operating profit: USD27.0 million, compared with a loss of USD15.1 million in p-c-p;
• Profit (loss) after tax: (USD39.5 million), compared with a loss of USD49.9 million in p-c-p;
• Passenger numbers: 3.1 million, +10%;
• Load factor: 80%, +12 ppts;
• Yield: +5%;
• Revenue per ASK: USD 8.34 cents, +20%;
  • Domestic: USD 9.83 cents, +26%;
  • International: USD4.16 cents, +88%;
• Costs per ASK: USD 7.92 cents, -1%;
  • Domestic: USD 8.83 cents, +9%;
  • International: USD 5.92 cents, -21%. [more]

*Based on the conversion rate at USD1 = INR47.12

Kingfisher Airlines: "The aviation industry has experienced a strong resurgence of domestic demand in Apr-Jun 2010. Kingfisher has capitalised on this growth and has seen a 12 ppts increase in load factors to 81% from 69%, and a 5% improvement in yields over the same quarter last year," Company statement. Source: Kingfisher Airlines, 22-Jul-2010.