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Gautam Buddha University Greater Noida KINGFISHER AIRLINES Project Topic –“Case On Kingfisher Airlines” Subject-Strategic Management(mgt-209) Submission date-15TH APRIL2009 Submitted to:- Submitted By:- Dr .Raj Kumar Ankush Saxena Gulshan Mahanvi Tyagi Parul Sirohi Prashant Sharma Group-2, Sec-B,MBA 1ST YEAR School Of Management Gautam Buddha University Greater Noida KINGFISHER AIRLINES Vijay Mallya is looking at reports of Q3 of 2008 , thinking that can there be any way to at least break even in this critical time of economic slowdown. Aviation industry is very sensitive industry triggered hard by the recession across the world. Kingfisher reports Rs. 592.96 crore net loss (from exhibit- 1) for the quarter ended 31st December 2008. Indian aviation sector is buckling under rising fuel prices & manpower costs and falling air traffic. Sales stood at Rs 1,447 crore versus Rs 1,353 crore, in line with Jet Airways, which also posted a net loss of Rs 214 crore for the quarter under review because of poor load factors. The company claimed that technically, the financial results for the third quarter cannot be compared with the corresponding quarter because the Vijay Mallya-led Kingfisher was not listed last year and this year’s result include figures of erstwhile Air Deccan, which Kingfisher took over last year. “High fuel and other operating costs coupled with lower load factors contributed to the losses at Kingfisher,” an industry observer said. On the operational front, Kingfisher saw corporate traffic being hit during the quarter because of the economic slowdown. Yields and front-end load factor also suffered “The full impact of the price reduction in aviation turbine fuel will lower the airlines’ operating costs,” the spokesperson added. CURRENT PROFILE IATA ICAO Callsign IT KFR KINGFISHER Founded 2002 Hubs Bengaluru International Airport ( Primary Hub) Chhatrapati Shivaji International Airport ( Secondary Hub) Indira Gandhi International Airport ( Secondary Hub) Focus cities Ahmedabad Chennai Hyderabad Kolkata Frequent flyer King Club program Fleet size 75 (+139 Orders, 25 Options) Destinations 77 (Including routes servedKingfisher Red) Parent company UB Group Company slogan Fly The Good Times Headquarters Bangalore, India Key people Dr. Vijay Mallya, CMD Mr. Hitesh Patel, EVP Mr. Rajesh Verma, EVP Mr. A. Raghunathan, CFO HISTORY Kingfisher Airline is a private airline based in Bangalore, India. The airline is owned by Vijay Mallya of United Beverages Group. Kingfisher Airlines started its operations on May 9, 2005 with a fleet of 4 Airbus A320 aircrafts. The destinations covered by Kingfisher Airlines are Bangalore, Mumbai, Delhi, Goa, Chennai, Hyderabad, Ahmedabad, Cochin, Guwahati, Kolkata, Pune, Agartala, Dibrugarh, Mangalore and Jaipur. In a short span of time Kingfisher Airline has carved a niche for itself. The airline offers several unique services to its customers. These include: personal valet at the airport to assist in baggage handling and boarding, exclusive lounges with private space, accompanied with refreshments and music at the airport, audio and video on-demand, with extra-wide personalised screens in the aircraft, sleeperette seats with extendable footrests, and three-course gourmet cuisine. CURRENT SCENARIO Kingfisher Airlines currently operates with a brand new fleet of 8 Airbus A320 aircraft, 3 Airbus A319-100 aircraft and 4 ATR-72 aircraft. It was the first airline in India to operate with all new aircrafts. Kingfisher Airlines is also the first Indian airline to order the Airbus A380. It placed orders for 5 A380s, 5 A350-800 aircrafts and 5 Airbus A330-200 aircrafts in a deal valued at over $3 billion on June 15, 2005. With the sign of trouble in aviation industry, Kingfisher airlines and Jet airways (used to be competitors), formed alliance (October, 2008) to significantly rationalize and reduce costs and provide improved standards and a wider choice of air travels options to consumers with immediate effect • Kingfisher airline has won global awards at the SKYTRAX World Airline Awards ceremony held recently in Hamburg , Germany(2009). • Air France –KLM is in talks with Jet Airways and Kingfisher Airline for having a code-share agreement .The conclusion of this agreement could help passengers , especially from smaller cities ,to travel further on the network of these global airline. • Kingfisher Airlines has launched “Five Star Privileges” ,an exclusive program that entitles guests to avail of great deals at partner establishment around the country. • Kingfisher Airlines captures market share with strong passengers in February 2009 as per the latest ministry of Civil Aviation data. • Kingfisher Airlines has deferred deliveries of some Airbuses (EAD,PA) aircraft, wary of overcapacity as airlines struggles to cut costs to offset high fuel prices and softer demand. The Airline , a unit of alcoholic drinks maker UB Group , has negotiated with Airbus to defer deliveries of 32 A320-family aircraft to 2010-2012 from2008/09, Kingfisher, which owns discount carrier Deccan Aviation DECA.BO, has five A380 super jumbos on order , scheduled for delivery from 2012 , as well as 20 A350 Aircraft scheduled for delivery from 2013. It also has a further 20 A330/200 aircraft on order , making it one of the single largest stakeholders in the Airbus order backlog by number of planes. • Indigo ,paramount Mull joining Jet Airways (India) limited and Kingfisher Airlines Ltd ties up • Kingfisher Airlines Ltd plans to sell 25% stake to allow foreign airlines to invest in domestic carriers, with a cap of just below 26%. • Kingfisher Airlines Ltd in talks to lease out two of its Airbus A330 planes to Nigeria’s Ank Air. • Recently, it has announced management change . • Air India has rejected the Jet Airways(India) Limited-Kingfisher Airlines Ltd offer to join their Alliance. • Deccan aviation Ltd has changed its name to Kingfisher Airlines Ltd. • Private air carrier Kingfisher Airlines has inked an agreement with Citibank Cards which allows members of its 'King Club' holding the bank's cards redeem their points for flights on Kingfisher Airlines or its partner airlines. King Club is the airline's frequent-flyer programme. "The association will benefit members of King Club, the frequent- flyer programme of Kingfisher Airlines and Citibank cardholders who are King Club members SWOT ANALYSIS KINGFISHER’S STRENGTHS Superior product on ground; in the air Jet business class is being equated with Kingfisher’s economy UB group backing for raising financing Well capitalised airline, prepared to take losses Better handling of employees and staff; less centralised style of functioning Chairman Mallya’s grand vision where it is looking to be among the best in the world The Deccan deal — which gives it market share, a new market segment and was cheap KINGFISHER’S WEAKNESSES Kingfisher is yet to build itself into an organisation; structures yet to fall in place Not as professionally run as Jet; yet to build a professionally competent team Mallya’s knowledge of the sector does not parallel Goyal’s Chairman’s people skills are better but employees have to work very erratic hours Unable to leverage connections to the same extent while lobbying Kingfisher’s loads are lower than Jet’s, which could be a reflection of its marketing and sales ability OPPORTUNITIES Under penetrated domestic market International market Untapped air cargo market Expanding tourism industry Fleet size expansion THREATS Existing Operators Infrastructure issue Fuel price hike Comparision Between Airlines Kingfisher Airlines Indian Airlines Jet Airways Check-in Counter: 1 2 3 - - 1 2 3 4 - 1 2 3 4 - Flight Attendants: 1 2 3 4 - 1 2 3 - - 1 2 3 4 - Seating Space: 1 2 3 - - 1 2 3 - - 1 2 3 4 - Punctuality: 1 2 3 4 - 1 2 - - - 1 2 3 - - PEST ANALYSIS Political Factors • Ecological/Environmental Issues • Current Legislation • Future Legislation • Regulatory Bodies And Processes • Government Policies • Government Term And Change • Trading Policies • International Pressure Groups Economic • Home Economy Situation • Overseas Economies And Trends • General Taxation Issues • Seasonality/Weather Issues Interest And Exchange Rates Social Factors • Lifestyle Trends • Demographics • Consumer Attitudes And Opinions • Media Views • Law Changes Affecting Social Factors • Brand, Company, Technology Image • Major Events And Influences • Sound Pollution • Plane hijacking • 9/11 Incident Technological Factors • manufacturing maturity and capacity • information and communications • technology legislation • innovation potential • technology access, licensing, patents • intellectual property issues • modernization of aircrafts • modern tehnology like cat3 and ils Economical Factors • Economic meltdown • Overall growth of the company • Operating cost • Capital • Airlines acquisition/leasing cost • Rising income level • Reduced fare but yet not enough STATUS OF KINGFISHER AIRLINES (passanger based) On the basis of market share Market share Airlines % Kingfisher 28 Jet airways+Jet Lite 25 Air India 17 Indigo 13 Spice Jet 12 Go Air 2.5 Paramount 1.8 MERGERS AND ACQISITIONS Dec. 2007Low-cost carrier Deccan and Vijay Mallya-led Kingfisher Airlines decided to merge and create a single corporate entity to cut down operational costs and accelerate their journey to profitability. Shares of Deccan Aviation have doubled in a little over a month in anticipation of a reverse merger of Kingfisher Airlines into Deccan Aviation. Details of Deccan-Kingfisher merger, valuations and swap ratio will be worked out by accountancy firm KPMG. Mallya would be the chairman and CEO of the merged entity, while executive chairman of Deccan, Captain G R Gopinath would be the vice-chairman. STRATEGIC PARTNERS 1. Kingfisher Airlines Inks Strategic Alliance with American Express. Partners launch India’s first Airline Corporate Charge Card Program Fast track Corporate Savings with exclusive Rebates, Discounts, and Employee Rewards with King Club and Bonus Points. 2. Strategic and operational alliance with rival domestic carrier Jet Airways owned by Naresh Goel in 2009..
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