Kingfisher Airlines Ltd : Q4FY12 Result Update


We do not expect the "holding plan" stated to KFA with a limited fleet to lead to any progress for the airline. We also expect the reconfiguration of aircraft to remain a challenge for the company despite the company’s mission to operate on a full-scale in the next 12 months. Hence, we do not see any value in the company and expect the interest burden to weigh heavily on the company given the sharp fall in revenues.

Consequently we are removing KFA from our coverage universe and advise clients to exit from any current holdings



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