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Kingfisher Airlines trades higher on the bourses

29 Mar 2012 Evaluate

Kingfisher Airlines is currently trading at Rs. 16.70, up by 0.20 points or 1.21% from its previous closing of Rs. 16.50 on the BSE.

The scrip opened at Rs. 17.00 and has touched a high and low of Rs. 17.00 and Rs. 16.50 respectively. So far 8,47,000 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 49.25 on 07-Apr-2011 and a 52 week low of Rs. 16.15 on 27-Mar-2012.

Last one week high and low of the scrip stood at Rs. 18.90 and Rs. 16.15 respectively. The current market cap of the company is Rs. 964.67 crore.

The promoters holding in the company stood at 50.51% while Institutions and Non-Institutions held 20.68% and 28.81% respectively. 

Kingfisher Airlines is likely to return and impend deregistration of at least five ATR aircraft. The turbo-prop aircraft are used for flights to secondary cities. In the last few days, the Directorate General of Civil Aviation received a letter from a lawyer firm to deregister the five ATR aircraft.

The company expects that existence of these aircraft will not affect the operations of Kingfisher Airlines as the new schedule does not include them. The number of narrow body aircraft being deregistered could more than double. The narrow body aircraft in the airline's fleet include Airbus A-320 and ATR.

The airline is currently operating a fleet of 20 aircraft of which 16 are used to operate flights. Earlier, the airline operated a fleet of more than 60 aircraft. It now operates about 120 daily flights, down from more than the 400 flights earlier.

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