Kingfisher goes into profit !
 

A sigh of relief for Mr.mallaya n crew .Kingfisher Airlines has announced its FY11 results.The company's total revenue for FY11 was Rs. 6,496 crores which is a 23% improvement over FY10:D. kingfisher claims Higher demand and stable yields combined with higher aircraft utilization contributed to the revenue growth. Kingfisher Airlines reported an operating EBITDA profit of Rs. 140 crore in FY11 compared to a loss of Rs. 690 crore in FY11. This is an improvement of Rs. 830 crore. This postive result is due to the debt recast which was completed in December 2010.:ok:

any jobs on the horizon then?

kingfisher has a history of cooking their books

Well don't be elated by this news.This is part of the "Doctor's" strategy of raising capital.This is part of the creative accounting that goes on there and now you will see a plan to raise capital from the market or better still sell if off to a "Strategic Investor" who essentially is a stupid old sod who has no clue about the aviation business.I'm quite sure he would have shown the "Brand Value" of Kingfisher as 1 Billion Dollars on the asset side of his balance sheet to make it look good.Just an advice to potential investors , if you like your money stay away from the Dr."Fat Boy" Mallya and his business empire.:ok:

@skydancer : True that !


A capitalist should have shot down the Wright brothers during their historic "first in flight" moment, Nobody has ever made a profit investing in the Aviation sector "
- WARREN BUFFET

Wow this is great news for Kingfisher! For a while there were some rumors that they were not even able to pay for their Airbus A380 PDPs. Kudos to the KF team!:ok:

Way to Go !!

All B*lls.

Cooked books...

Heard that they r trying to raise a GDR but are unable to do so...

Is that a real quote? Buffet's Berkshire owns NetJets.

they have a awful lot of airframes sitting around the country that have been used as pure parts planes to keep others flying, the A320 sitting in Chennai is or was only a couple of years old ... I highly doubt any of these airframes are time expired. I dont know of many successful airlines around the world with so many idle dead airframes....Plus their planes that are flying look very very unloved