Indian airline financial wrap 3QFY2009/10: Jet Airways, Kingfisher Airlines, Air India and SpiceJet

Third quarter FY2009/10 financial results for India’s three large airline groups – Air India, Jet Airways and Kingfisher Airlines – and domestic LCC, SpiceJet, show mixed results at the net profit level, as two of the four carriers increased their revenues, while all four experienced traffic growth. There are still challenging times ahead in 2010 for all four carriers to reach a stabilisation in yields and increase their revenues, as traffic continues to recover. [2796 words]

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This report contains the following subheadings:

• Jet Airways and SpiceJet return to profitability
• Air India’s net loss narrows, Kingfisher’s net loss widens
• Jet Airways international operations stronger
• SpiceJet’s cost per ASK over three cents lower
• Kingfisher Airlines reports highest total revenue per RPK
• Jet, Kingfisher and SpiceJet’s EBITDAR improve
• Kingfisher Airlines transports the most domestic passengers
• JetLite returns to profitability in the third quarter
• Outlook: Intense competition for India’s domestic carrier to restructure their cost bases and improve yields

This report contains the following charts and tables:

• Indian carriers’ net profit margin and total passenger numbers growth for the three months ended 31-Dec-2009
• Jet Airways, Kingfisher Airlines and SpiceJet financial highlights for three months ended 31-Dec-2009
• Jet Airways revenue (USD million) breakdown by domestic, international and total: 1QFY2008/09 to 3QFY2009/10
• Kingfisher Airlines, Jet Airways, Air India and SpiceJet domestic passenger numbers and passenger numbers growth: Three months ended 31-Dec-2009
• JetLite financial highlights for three months ended 31-Dec-2009
• JetLite unit revenue/cost and passenger seat factor: 1Q2008/09 to 3Q2009/10