Kingfisher Airlines plans to raise equity as net losses amount to USD50.0 million in first quarter

Kingfisher Airlines reported a USD50.0 million net loss in 1QFY2010, ended 30-Jun-09, deepening losses of USD33.0 million in the previous corresponding period. The carrier cut capacity by 23% in the first fiscal quarter, while controlling reduction in revenue, which declined by just 6% year-on-year in the period to USD273.0 million. [1030 words]

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This report contains the following subheadings:

• Kingfisher “cannot afford” to pay high domestic taxes as losses reach “unsustainable” levels
• Leader by market share in India
• Focus on international expansion in 2QFY2010
• Outlook: Increasing market share at expense of yields

This report contains the following charts and tables:

• Kingfisher Airlines financial highlights for three months ended 30-Jun-09
• Jet fuel as proportion of total operating costs: Three months ended 30-Jun-2009
• Kingfisher Airlines passenger numbers and passenger numbers growth (% change year-on-year): 3Q07 to 1Q2010
• Indian carriers domestic market share: Jun-2009