What Affected Kingfisher Airlines Stocks
A man that acquired Whyte & MacKay as he was not permitted to brew scotch whiskey outside of Scotland, bought his own Formula 1 and IPL teams, Force India and Royal Challengers Bangalore respectively, is known for his lavish lifestyle. He owns yachts, private jets, beach villas at exotic locations to entire islands. But he seems to be doing something right to have cut losses in a year which saw the liabilities side of the Jet Airways balance sheet go up.
India’s second biggest airline by traffic is KingfisherAirlines. Kingfisher Airlines reported a net loss of Rs. 1,647.22 towards the end of May 2010. Looking at their figures of Rs. 2,139.65 for the previous year, this can be considered quite an improvement.
Kingfisher Airlines celebrated their new year, reducing losses by 23.1%. A fact that Mr. Mallya is clearly doing his job well is that the above figure was achieved although their sales dropped by 3.26%.
Share prices of Kingfisher Airlines rose to a 12 month high of Rs. 44.85 in early June, 2010 from a yearly low 39.20 on the 26th of May, 2010. One of the main reasons for this that the company managed to increase their income by 60% to touch Rs. 203.12 crore in 2010. They also managed to reduce operating losses by Rs. 1,000 crore. They also mentioned that from their total current losses, Rs. 400 crore amounted to only one time losses that would not be incurred again. These included premature termination of aircraft lease, foreign exchange losses and general clean up after the integration of Air Deccan.
In contrast, Jet Airways, India’s largest air carrier managed to widen its loss by over 15% from Rs. 402.34 crore to Rs. 467.64 crore in 2010.
Sumedh is from India, and he is part of Moneyvidya.com, where you can find Indian share trading tips by proven experts with a transparent track record. Moneyvidya has been integrated to both BSE and NSE, so you can find NSE tips as well as BSE tips here.
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