India's first private regional airports by mid-2012
BS Reporter / Chennai/ Bangalore August 11, 2011, 0:53 IST
Regional Airport-Holdings International Limited (RAHI), a private airport developer, on Wednesday announced that it will invest around Rs 3,000 crore in over 15 aviation infrastructure and services projects across the country over the next five years, the company said in a press release.
“With India poised to be the third largest aviation market by the end of this decade, the aviation revolution has already begun. The Centre has ambitious plans for 500 airports by 2020. It is estimated that Indian aviation will see an investment of about $120 billion over the next few years. There is a need for infusion of capital into the aviation sector to keep up with the booming demand. RAHI will work in tandem with the government’s plans and fuel growth in the sector,” said Sandeep Mendiratta, Head - Aviation Business - ITNL & Member of the Board - RAHI.
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RAHI is a joint venture (JV) between IL&FS Transportation Networks Limited (ITNL) - a player in transportation infrastructure development and finance; and Comet Infra-Developments Private Limited (CIDPL) - an infrastructure development group. This JV is currently developing airports in Shimoga and Gulbarga in Karnataka, under the Public-Private Partnership model, both of which will be operational by mid-2012.
The concession period for both projects is 30 years, extendable by an additional 30 years.
“RAHI has a three-pronged strategy for regional aviation, specifically in Tier-II and Tier-III cities in India. We will not only develop airports and associated infrastructure but also have our own regional airline that will serve Tier-II and Tier-III cities,” said Umesh Kumar Baveja, Director — CIDPL & Founder-Chairman, RAHI.
RAHI expects to operationalise its regional airline in tandem with the two airports becoming operational by mid-2012. Discussions have begun with aircraft manufacturers to source appropriate aircraft for the routes RAHI will ply. RAHI is building up its operational team, distinct from the aviation infrastructure team that is presently progressing the airport development projects, he added.
BS Reporter / Chennai/ Bangalore August 11, 2011, 0:53 IST
Regional Airport-Holdings International Limited (RAHI), a private airport developer, on Wednesday announced that it will invest around Rs 3,000 crore in over 15 aviation infrastructure and services projects across the country over the next five years, the company said in a press release.
“With India poised to be the third largest aviation market by the end of this decade, the aviation revolution has already begun. The Centre has ambitious plans for 500 airports by 2020. It is estimated that Indian aviation will see an investment of about $120 billion over the next few years. There is a need for infusion of capital into the aviation sector to keep up with the booming demand. RAHI will work in tandem with the government’s plans and fuel growth in the sector,” said Sandeep Mendiratta, Head - Aviation Business - ITNL & Member of the Board - RAHI.
Click here to visit SME Buzz
RAHI is a joint venture (JV) between IL&FS Transportation Networks Limited (ITNL) - a player in transportation infrastructure development and finance; and Comet Infra-Developments Private Limited (CIDPL) - an infrastructure development group. This JV is currently developing airports in Shimoga and Gulbarga in Karnataka, under the Public-Private Partnership model, both of which will be operational by mid-2012.
The concession period for both projects is 30 years, extendable by an additional 30 years.
“RAHI has a three-pronged strategy for regional aviation, specifically in Tier-II and Tier-III cities in India. We will not only develop airports and associated infrastructure but also have our own regional airline that will serve Tier-II and Tier-III cities,” said Umesh Kumar Baveja, Director — CIDPL & Founder-Chairman, RAHI.
RAHI expects to operationalise its regional airline in tandem with the two airports becoming operational by mid-2012. Discussions have begun with aircraft manufacturers to source appropriate aircraft for the routes RAHI will ply. RAHI is building up its operational team, distinct from the aviation infrastructure team that is presently progressing the airport development projects, he added.
EBITDAR margin for the year was at 13% vs. last year at 20%.
Kingfisher Airlines’ total revenue for Q1 FY12 was Rs. 19.11bn which is a 15% improvement over the same quarter last year. Increase in capacity, higher load factors, and improvement in yield contributed to the revenue growth.
The momentum in Indian aviation industry has continued with a strong demand growth of 15% in Q1 FY12. Even though the capacity growth at 19% slightly outpaced the demand growth, Kingfisher Airlines effectively capitalized on its strengths to achieve a 4 percentage point increase in domestic load factor. In the same period, industry load factors experienced a decline of 2 percentage points.
For the quarter ended Q1 FY12, EBITDAR was Rs. 2.52bn vs. Rs. 3.4bn in FY10. EBITDAR margin for the year was at 13% vs. last year at 20%. This profitability was achieved despite additional fuel cost burden of Rs. 260 crore.
Kingfisher Airlines reported an operating EBITDA profit of Rs. 46mn in Q1 FY12 compared to a profit of Rs. 990mn in Q1 FY11. The overall EBITDA margin for the quarter was 0.2%. Growing maturity of international routes was a major contributor to the improvement as the EBITDA loss on international operations reduced to Rs. 40 crore in Q1 FY12.
Net loss as a percentage of total revenue stood at 14% in Q1 FY12. The benefits of debt restructuring and improved operating performance were offset by the rise in fuel price.
Domestic operations saw a Revenue per Available Seat Kilometer (RASK) improvement of 6% whereas the International RASK improved by 25%. EBITDA CASK (Cost per Available Seat Kilometer) increased by 16%. Excluding fuel, the EBITDA CASK increased by only 3%.
During the quarter, Kingfisher Airlines’ frequent flier program “King Club” won several accolades at the frequent traveler award ceremony in the US. In June at the Paris Air Show, Kingfisher Airlines was rated the Best Airline in India and Central Asia by Skytrax. Kingfisher Airlines remains India’s most awarded airline.
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