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Kingfisher Airlines trades in red on losing out its 6 lots in Mumbai Intl airport to Indigo

09 Jan 2013

Kingfisher Airlines is currently trading at Rs 13.71, down by 0.12 points or 0.87% from its previous closing of Rs 13.83 on the BSE.

The scrip opened at Rs 13.05 and has touched a high and low of Rs 14.30 and Rs 12.45 respectively. So far 6882294 shares were traded on the counter.

The BSE group 'B' stock of face value Rs 10 has touched a 52 week high of Rs 30.90 on 07-Feb-2012 and a 52 week low of Rs 7.01 on 13-Aug-2012.

Last one week high and low of the scrip stood at Rs 15.45 and Rs 13.70 respectively. The current market cap of the company is Rs 1124.12 crore.

The promoters holding in the company stood at 35.83% while Institutions and Non-Institutions held 15.61% and 48.56% respectively.

Much trouble seems to be in store of the beleaguered Airline as Mumbai International Airport (MIAL) has handed out six of the 11 slots Kingfisher holds to Indigo. Further, according to a report, MIAL may also allot remaining slots to other carriers in due course of time. However, if all airport slots are given away to other airlines, it will be difficult for the defunct carrier to resume flights once its revival plan is given green signal by the Directorate General of Civil Aviation (DGCA).

Besides, even the Airports Authority of India (AAI) has warned KFA that it will start taking away space allotted to it across airports if the latter fails to submit a concrete revival plan by mid-January.

The Directorate General of Civil Aviation (DGCA) suspended airlines operating license on October 20 and asked to submit a concrete and viable revival plan ensuring safe, reliable, efficient and sustainable operations. As per the DGCA regulations Kingfisher can renew its license within two years.

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Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323