June 2011

FY11 Update

Disclaimer
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Disclaimer (Contd.)
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Agenda

Business Update
Domestic International

Performance Highlights

Kingfisher Airlines Overview

Ki fi h Ai li Kingfisher Airlines h b has become th l the largest airline i th I di skies b number of routes i t i li in the Indian ki by b f t in a short span of seven years (starting with Air Deccan in 2003 and subsequent integration of erstwhile Kingfisher with Air Deccan)

The pace of growth was accompanied by challenges for the company given the integration of Air Deccan, an astronomic rise in fuel prices & the economic slowdown

Given these challenges, the company did not deem it appropriate to raise capital over the last 1-2 years. The economic environment is now buoyant with strong demand in the aviation industry

Kingfisher operations have stabilized through various turnaround initiatives; EBITDA margins have improved from -32.9% in FY09 to +2.2% in FY11

Debt recast has been completed and received shareholders approval to raise additional capital through equity based securities

Route Network
66 aircraft* aircraft 59 domestic & 8 international destinations* 383 flights a day*

With 59 domestic destinations to offer, KFA has the widest reach in India

Flying to all major business & leisure destinations in the country covering > 95% of the addressable passenger base

13 unique destinations in India not serviced by any other airline

*As of 31st Mar 2011

Market Performance Domestic

Domestic Operating Environment

Domestic
The industry exhibited strong demand growth; passenger traffic increased by over 18% in FY 11 (over FY10)

Capacity in the industry grew by 11% for the same period and continued to lag behind demand

The demand growth coupled with capacity lag has led to increase in industry load factors to 78% (6 percentage points over last year)

Yields have remained stable over the year and premium traffic has continued to grow. Domestic Passenger RASK is up by 8% Q4 FY11 over Q4 FY10 despite some aggressive pricing by competitors

Crude oil price has been on upward trend increasing from USD 85/bbl to more than USD 110/bbl over the last fiscal year

Source: DGCA data

Kingfisher has consistently increased load factors since Q2 FY09 & maintained a steady effective market share
Domestic LoadFactor
90% 85% 80% 75% 70% 65% 60% 55% 50% 76% 68% 66% 67% 61% 62% 65% 61% 54% Q1 Q2 Q3 Q4FY09 Q1 KFLF% Q2 Q3 Q4FY10 Q1 Q2 Q3 Q4FY11 70% 70% 72% 75% 68% 73% 81% 74% 80% 69% 81% 76% 82% 87% 83%

IndustryLF%excludingKF

'EffectiveMarketShare' MarketShare/CapacityShare
1.50 1.40 1.30 1.20 1 20 1.10 1.00 0.90 0.80

1.15 1.01 0.91 0.99 1.01 1.00 1.04 1.00 1.01 1.01 1.06

1.08

Q1

Q2

Q3

Q4FY09

Q1

Q2

Q3

Q4FY10

Q1

Q2

Q3

Q4FY11

Source: DGCA Note: Market share/capacity share calculated on a RPKM/ASKM basis

Despite a significant reduction in capacity

Domestic
First mover to rationalize industry capacity post Deccan merger

Capacity

4,500 , 4,201 4,000 3,598 3,534 3 534 ASKMs(mn) 3,500 3,392 3,253 2,830 2,950 2,776 2,861 2,617 2,500 2,332
Second round of capacity rationalization to balance demand supply Aircraft grounded due to technical considerations 10 out of 14 A320 family g ou ded a y grounded aircrafts flying as of 31st March 2011 Entire Capacity Flying

3,157 2,777

3,000

2,000 Q1 Q2 Q3 Q4FY09 Q1 Q2 Q3 Q4FY10 Q1 Q2 Q3 Q4FY11

Aircraft utilization has been enhanced by > 10% to offset capacity loss due to grounded aircraft Current utilization of the Airbus A320 family stands at 11.6 hrs/day & of the ATR family stands at 10.9 hrs/day
Source: DGCA
10

Kingfisher has shown a steady revenue growth over the last few years and has managed to outpace competition
Domestic Domestic Passenger RASK
FY09 RASK 3.27 YOY % 3.61 4.17 4.26 4.13 4.19 4.08 FY10 FY11 Q1 Q2 Q3 Q4FY11

Market Share
6.4% 15.4% 13.6% 7.3% 7 3% 17.5% GoAir AirIndia Spicejet Jetlite JetAirways Indigo Kingfisher

19%

10%

16%

22%

25%

9%

8%

19.7% 20.0%

Apr11

Kingfisher has retained the largest market share of all Indian carriers domestic operations per DGCA

Pax RASK
4.50 4.00 3.50 3.50 3.00 2.50 Q1 Q2 Q3 Q4FY09 Q1 Q2 KFA
Source: DGCA ; *Jet+Jetlite data is provided in the investor reports on the website Note: Jet+Jetlite Pax Revenue = RRPKM * RPKM

4.09 3.74

4.07 3.67 3.48 3 48 3.72 3.27 3.35 3.31 3.70 2.75 3.86 3.79 3.68

4.26

4.13

4.19

4.08

3.73 3.23

4.03 3.51

3.19

Q3 Jet+Jetlite*

Q4FY10

Q1

Q2

Q3

Q4FY11

11

As a result, Kingfisher has steadily bridged the financial performance gap on domestic operations as compared to peers
All Figures in INR

Domestic PaxRASK/NonFuelEBITDARCASK
1.67 1.33 1.51 1.29 1.33 1.34 1.28 2.50 2.00 1.50 1.51 1.00 0.50 FY09 KF Jet+Jetlite*
Jet+Jetlite (Rs.) EBITDAR Margin
EBITDA Margin Pax RASK

PaxRASK/NonFuelEBITDACASK
2.00 1.50 1.00 0.50 1.25 1.29 1.45 1.39 1.21 1.22 1.61

2.10 1.64 1.62 1.60 1.80 1.74 1.84 1.70 1.64

2.00 1.69 1.73 1.50

FY10

FY11 KF

Q1 Jet+Jetlite*
Q1

Q2

Q3

Q4FY11

KFA (Rs.)
EBITDAR Margin

FY09

FY10

FY11

Q1

Q2

Q3

Q4FY11

FY09 FY10 FY11

Q2

Q3

Q4FY11

-5%

13% -6% 3.61 2.95 2.22

20% 5% 4.17 3.00 2.31

24% 11% 4.26 2.65 2.03

24% 8% 4.13 3.21 2.43

22% 7% 4.19 3.11 2.42

9% -6% 4.08 3.08 2.41

2% 23% -9% 5%

17% 7% 3.63 2.51 2.09

21% 11% 3.73 2.47 2.02

17% 6% 3.23 2.42 1.97

25% 16% 4.03 2.41 2.02

4% -5% 3.51 2.74 2.34

EBITDA Margin -25% Pax RASK Non-Fuel EBITDA CASK Non-Fuel N F l EBITDAR CASK

3.27 2.70 2.00

3.89 3.38

Non-Fuel 3.10 2.62 EBITDA CASK Non-Fuel Non Fuel EBITDAR 2.57 2.11 CASK
12

*Source: Jet+Jetlite published financials EBITDAR & EBITDA margins calculated on Total Revenue for both carriers

leading to a significant improvement in operating performance

Domestic

TotalRASK
6.00 5.00 4.00 INR 3.00 2.00 1.00 FY09 FY10 FY11 Q1 Q2 Q3 Q4FY11 Rs.incrs 400 200 (200) (400) (600) (800) ( ) 4.78 4.50 4.36 4.22 4.16 4.56 4.52 (1,000) (1,200) (1,400) (1,292) FY09 FY10 (260) FY11 Q1 Q2 Q3 Q4FY11 3.49 3 49 4.76 4.00 4.68 4.97 4.88 4.53

EBITDA
271 150 96 94 (70)

EBITDACASK EBITDA CASK

5.00 4.80 4.60 IN NR 4.40 4 40 4.20 4.00 3.80 FY09 FY10 FY11 Q1 Q2 Q3 Q4FY11

13

And has demonstrated the ability to counter recent unexpected fuel price hike with Fuel Surcharges
Domestic
The healthy supply/demand gap has allowed Kingfisher to increase the fuel surcharge twice in the last 60-90 days to offset the recent spike in crude Increase of crude from $90/bbl to $120/bbl is offset by a Fuel Surcharge hike of Rs. 600 per ticket The surcharge hikes were taken on 01 March 2011, and again on 25 March 2011 and ranged from 200 to 400 rupees for all sectors (attached a sample of published fuel surcharge for key metro markets)

014DayAdvancePurchaseFuelCharge(INR)

Date/Market 1Dec10 31Dec10 1Mar11 25Mar11

BOMDEL BOMBLR BOMHYD DELMAA BOMCCU 3,200 2,850 1,850 3,450 3,450 3,400 2,950 1,950 3,650 3,650 3,600 3,050 2,050 3,850 3,850 4,000 4 000 3,250 3 250 2,250 2 250 4,250 4 250 4,250 4 250

Source: Kingfisher Airlines

14

Market Performance International

15

International Operating Environment

International
The total international traffic to and from India has shown a CAGR of 13% between FY06FY11 Market Size (PPDEW) e Indian carriers currently account for ~35% of international routes ASKMs from India Other industry players have grown the international b i i t ti l business and margins significantlyd i i ifi tl 9W revenue increased by 5 times and EBITDAR margin by 15 percentage points between FY07 and FY11 oneworld has set the growth path for KFA into key international markets with enhanced connectivity and traffic sources from worlds largest airlines British Airways, Qantas, Cathay Pacific, Pacific American Airlines, etc Airlines etc. KFA has already exceeded fair share of the local O&D markets in 11 out of 14 routes it operates vs. its capacity share

Top10InternationalMarketsfrom India
1,400 1,217 1,200 1,000 824 800 600 400 200 0 794 748 701 696 676

665 582 550

Kingfisher has deployed capacity on 8 out of the10 largest international routes from India
Indicates Kingfisher presence

Market Size based on PAX-IS plus data for Apr 10-Mar 11. PPDEW = Pax per day each way Source : DGCA, PAXIS, 9W investor presentation

16

And ramped up capacity in a calibrated manner

International

Capacity D l C i Deployed d

2,000 2,000
Additional utilization of A320 capacity with international operations to BKK, DXB, CMB & DAC

Addition of A330 capacity to LHR & A320 capacity to BKK,DXB & KTM

1,500 ASKMs(mn)
Launch of wide body A330 operations to London

1,316 , 1,425

1,408

1,428

1,000 772 610 500 98 98 Q2 Q3 Q4FY09 Q1 Q2 Q3 322

Withdrawal of BLR-LHRBLR operations

792

780

648 648

Addition of A330 capacity to HKG & SIN

Q4FY10

Q1

Q2

Q3

Q4FY11

Source: DGCA

17

The growing acceptance of the KF product has led to a significant growth in business
LoadFactor Load Factor
90% 80% 70% 60% 50% 40% 30% Q1 Q2 Q3 KFLF% Q4FY10 Q1 Q2 Q3 Q4FY11 60% 69% 71% 69% 72% 71% 72% 72% 77% 74% 74% 73% 78% 71% 78% 73%

International

IndianCarriersLF%excludingKF

Pax RASK
3.00 2.50 2 50 2.00 1.50 1.00 0.50 2.05 2 05 2.14 2 14 2.33 2.31 2.21 2 21 1.96 2.33 1.97 2.43 2.37 1.04 Q1 1.34 1.67 1.91 2.36 2.27

Q2

Q3

Q4FY10 KF

Q1 JetAirways

Q2

Q3

Q4FY11

Kingfisher g No of flights

Q1 831

Q2 1,192

Q3 1,288

Q4FY10 1,268

Q1 2,229

Q2 2,472

Q3 2,487

Q4FY11 2,438

Source: DGCA, Jet Airways published financials Jet Airways Pax Revenue = RPKM * RRPKM

18

The movement relative to peers has also been positive

All Figures in INR

PaxRASK/NonFuelEBITDACASK
1.80 1.60 1.40 1.20 1.00 0.80 0.60 0.40 0.20 1.54 1.37 1.48 1.34 1.46 1.46 1.53 1.46 1 46 1.21 1.20 1.48 1.45 1 45 2.50 2.00 1.50 1.00 0.67 0.50 0.50 0.24 FY09 FY10 FY11 KF
KFA (Rs.)
FY09 FY10

International PaxRASK/NonFuelEBITDARCASK
1.87 1.65 1.57 1.68 1.01 0.36 FY09 FY10 FY11 KF Q1 Q2 JetAirways Q3 Q4FY11 2.00 1.71 1.73 1.75 1.63 2.02

1.66 1.68

Q1 JetAirways
FY11 Q1 Q2 Q3 Q4FY11

Q2

Q3 Q4FY11

Jet Airways (Rs. )

FY09 FY10 FY11

Q1

Q2

Q3 Q4FY11

EBITDAR Margin -301% -37% EBITDA M i Margin Pax RASK

9% -9% 9% 2.17 1.62 1.16 1 16

4%

5%

15%

10% -6% 6% 2.36 1.60 1.17 1 17

EBITDAR Margin 2% EBITDA Margin Pax RASK

18% 23%

23% 17% 2.21 1.51 1.33

26% 20% 2.33 1.59 1.39

26% 20% 2.43 1.58 1.39

16% 11% 2.27 1.57 1.40

-444% -79% 444% 79% 1.09 1.51 2.26 1.50 1 50

-16% -15% -0.8% 16% 15% 0 8% 1.96 1.62 1.14 1 14 1.97 1.63 1.13 1 13 2.37 1.63 1.19 1 19

4% 12% 17% 2.24 2.21 2.31 1.57 1.38

Non-Fuel EBITDA 4.57 CASK Non Fuel Non-Fuel 3.02 3 02 EBITDAR CASK

Non-Fuel 1.45 1.61 EBITDA CASK Non Fuel Non-Fuel 1.36 1.41 EBITDAR CASK

Source: Estimated from Jet Airways published financials

19

and an improving operating performance

International

TotalRASK
3.00 2.50 2.00 2 00 INR 1.50 1.00 0.50 FY09 FY10 FY11 Q1 Q2 Q3 Q4FY11 INRincrs 1.09 (50) (100) (150) (200) (250) (300) (350) (400) (450) 3.26 3 26 ( (500) ) 2.85 2.79 2.79 2.85 2.97 (451) (430) (130) FY09 FY10 FY11 Q1 (51) Q2 (53) Q3 Q4FY11 1.82 1 82 2.62 2.83 2.41 2.42 2.81

EBITDA

(3)

(23)

EBITDACASK EBITDA CASK

7.00 6.00 5.00 INR 4.00 4 00 3.00 2.00 1.00 FY09 FY10 FY11 Q1 Q2 Q3 Q4FY11 5.93

20

Fleet Plan FY 11-16

FY11 Q1 Q2 Q3 Q4 FY12 Q1 Q2 Q3 Q4 FY13 Q1 Q2 Q3 Q4 FY14 Q1 Q2 Q3 Q4 FY15 Q1 Q2 Q3 Q4 FY16 A320 ATR A330 Total 34 27 5 66 66 2 2 3 3 2 3 39 27 5 71 71 1 1 2 2 3 1 1 5 5 3 1 1 5 5 2 47 1 31 8 3 86 3 86 1 1 1 3 3 2 1 1 4 4 3 1 1 5 5 3 56 1 35 1 12 5 103 5 103 1 1 1 3 3 4 1 1 6 6 2 1 1 4 4 4 67 1 39 1 16 6 122 6 122 2 1 1 4 4 3 3 2 1 3 1 1 5 5 4 78 42 18 4 138 4 138

FromMarket

Source: Company

21

Kingfisher stays committed to multi-pronged initiatives for cost-cutting, revenue enhancement & capital re-structuring

Key Revenue Initiatives

Key Cost Reduction Initiatives

Capital Recast

One World Alliance Membership with oneworld Alliance when achieved to drive inbound domestic passenger growth Co-branded Credit Cards Re-negotiate King Club Amex co-brand card contract; introduce King Club ICICI cobrand card Kingfisher Express DTD Cargo Express service to tap under penetrated air-cargo delivery service

Rationalizing Distribution Channels Reduction of S&D costs by reviewing distribution channels, negotiating GDS contracts Renegotiating Vendor Agreements Additional airport & fuel discount* Additional discounts from airports* airports E&M costs to reduce with new vendor Renewal of operating leases at a discount to existing rates Control Discretionary Spend Reduce rentals costs of transportation local rentals, transportation, conveyance and communication Optimize space (warehouses, offices, call centres) Operational Efficiency Reduce fuel consumption for Airbus & ATR operations Target E&M spend reduction (in-house Cchecks, controlled redelivery)
* - Subject to capital raising

Debt Re-schedulement Re schedulement Debt recast program of Kingfisher Airlines earlier approved by RBI has now been completed Key Highlights f K Hi hli ht of program Conversion of debt to equity Lower interest rate Moratorium on repayment Equity Infusion Received shareholders approval to raise additional capital through equity based securities

22

KFA Debt : Post Debt Recast

Particulars P ti l (in Rs. Crs) Working Capital Term Loan PDP Loan Promoter loan Inter corporate deposit (ICD) sub total Other short term loan Hire Purchase Finance lease Grand total Debt before recast 590.5 4,263.49 166.44 656.30 (648.00) (750.10) (553.10) Conversion of debt to CCPS To CRPS to OCDS to WCTL (297.40) 297.40 248.42 768.30 Additional Loan FITL RTL Debt post recast 293.10 4,274.40 166.44 8.30

1,137.32 6,814.0 75.20 86.15 675.73 7,651.12 (1,398.10) (553.10) (1,398.10) (553.10)

(709.32) (709.32) 248.42 768.30

428.00 5,170.2 75.20 86.15 675.73

(709.32)

248.42

768.30

6,007.30

Working Capital represents sanctioned fund based limits

As of 31st March 2011, Promoter & Bank debt which were converted to Compulsorily Convertible 2011 Preference Shares, pursuant to the Debt Recast were further converted into equity at INR 64.48 which was higher than the prevailing market price of INR 39.90
23

Agenda

Business Update
Domestic International

Performance Highlights

24

Overall company performance highlights: FY 2011

Total revenue of Rs. 6,496 Cr (+23% over FY10)
Operating revenue growth of +25% over FY10

EBITDA profit of Rs. 140 Cr vs. loss of Rs. 690 Cr in FY10 (+830 Cr over FY10)
EBITDA margin improved from -13.1% to +2.2% EBITDAR margin improved from +7.7% to +17.3%

Total RASK improved to Rs. 4.02 from Rs. 3.56 in FY10 (+13%)
Pax RASK growth of +9% over FY10 (Rs. 3.48 from Rs. 3.18)

CASK (EBITDA) reduced to Rs. 3.93 from Rs. 4.03 in FY10 (-2%)
Ex-fuel EBITDA CASK reduced by 10% over FY10 (Rs 2.52 from Rs 2.81)

25

Domestic operations performance highlights: FY 2011

Operating Revenue of Rs. 4,899 Cr (+8% over FY10)
4% increase in passenger revenue despite 11% reduction in capacity (seats offered)

EBITDA profit of Rs. 271 Cr vs. loss of Rs. 260 Cr in FY10 (+531 Cr over FY10)
EBITDA margin improved from -5.5% to +5.4% EBITDAR margin improved from 12.8% to 19.8% in FY11

Total RASK improved to Rs. 4.76 from Rs. 4.00 in FY10 (+19%)
Pax RASK growth of +16% over FY10 (Rs. 4.17 from Rs. 3.61) Load factor up 10 percentage points to 83%

CASK (EBITDA) increased to Rs. 4.50 from Rs. 4.22 in FY10 (+7%)
Ex-fuel EBITDA CASK increased by 1.8% over FY10 (Rs 3.00 from Rs 2.95) Excess costs of Rs 220 Cr borne on account of unplanned grounding of aircraft

26

International operations performance highlights: FY 2011

Operating revenue of Rs. 1,460 Cr

International passenger revenue at 22% of total system passenger revenue Routes maturing in line with expectation

EBITDA loss of Rs 130 Cr vs. loss of Rs. 430 Cr in FY10 (+300 Cr over FY10)
EBITDAR margin improved to 8.8% vs. loss of -36.6% in FY10

Total RASK improved to Rs. 2.62 from Rs. 1.82 in FY10 (+44%)
Pax RASK improved to Rs. 2.2 from Rs. 1.5 Load factor up 9 percentage points to 77%; ATV improved by 15% over same period last year

CASK (EBITDA) reduced to Rs. 2.85 from Rs. 3.26 in FY10 (-13%)
Ex-fuel EBITDA CASK reduced by 28% over FY10 (Rs 1.62 from Rs 2.26)

27

Appendix

28

Company Operating Parameters FY 2011

Apr'10 Mar'11 Parameters (FY11) No of Departures ASKMs (Million) RPKMs (Milli ) RPKM (Million) Passenger LF% Block Hours Revenue Passengers (Million) Revenue per ASKM (INR) Cost per ASKM (INR) 127,866 16,166 13,101 13 101 81% 229,911 12.0 12 0 4.02 3.93

Apr'09 Mar'10 (FY10) 137,931 14,801 10,625 10 625 72% 230,622 11.1 11 1 3.56 4.03

Better/ (Worse) % (7%) 9% 23% 9 points 0% 9% 13% 2%

Average Gross Revenue per passenger in INR Period ended Fleet Size

4,666 66

4,258 67

10% (2%)

Note: (1) Cost per ASKM is calculated at EBITDA cost level

29

Company P&L FY 2011

Rs Crores INCOME Operating Revenue Non Operating Revenues Total Revenues EXPENDITURE Employee Remuneration & Benefits Aircraft Fuel Expenses Other Operating Expenses EBITDAR Aircraft Lease Rentals Total Operating expenditure EBITDA Depreciation Interest and finance charges Total Expenditure Loss before exceptional items and Tax Exceptional Items Foreign exchange translation difference Provision for taxation PROFIT / (LOSS) AFTER TAXATION

Apr 10 Mar 11 Apr'10 Mar'11 (FY11)

6,360 136 , 6,496

Apr 09 Mar 10 Apr'09 Mar'10 (FY10)

5,090 181 5,271 ,

Variance (%) V i
25% -25% 23%

676 2,274 2,421 1,124 984 6,355 140 241 1,313 7,909 (1,414) (1 414) 91 16 (493) (1,027)

689 1,803 2,376 404 1,094 5,961 (690) 217 1,103 7,281 (2,010) (2 010) 358 50 (771) (1,647)

-2% 26% 2% 179% -10% 7%

11% 19% 9% 30% -74% -68% 36% 38%

30

Company Balance Sheet : FY 2011

Rs. Rs Crores Shareholders Funds: Capital Reserves and Surplus Loan Funds Total Fixed Assets Investments I t t Foreign Currency Monetary Item Translation Difference Account Deferred Tax Asset Current Assets, Loans and Advances Less: Current Liabilities and Provisions Initial cost on Leased Aircrafts Profit and Loss Account Total T t l 2,927.78 2 927 78 2,973.83 4,166.85 125.84 5,348.47 9,454.36 Apr'10 Mar'11 p (FY11) 1,050.88 1,346.40 7,057.08 7 057 08 9,454.36 2,245.23 0.05 Apr'09 Mar'10 p (FY10) 362.91 87.70 7,922.60 7 922 60 8,373.21 2,535.12 0.05 27.98 2,434.37 2 434 37 2,457.12 3,548.13 145.64 4,321.08 8,373.21

31

Domestic Operating Parameters FY 2011

Apr'10 Mar'11 Parameters (FY11) No f Departures N of D t ASKMs (Million) RPKMs (Million) g Passenger LF% Block Hours Revenue Passengers (Million) Revenue per ASKM in INR Cost per ASKM in INR 118,240 118 240 10,588 8,819 83% 187,581 10.8 4.76 4.50

Apr'09 Mar'10 (FY10) 133,352 133 352 11,810 8,586 73% 210,262 10.5 4.00 4.22

Better/ (Worse) %

(11%) (10%) 3% 10 points (11%) 3% 19% (7%)

Average Gross Revenue per passenger in INR

4085

4046

1%

Excess costs of Rs. 220 cr incurred on account of aircrafts on ground (AOG) in FY 2011 Cost per ASKM adjusted to AOG* would be Rs 4.29
Note: (1) Cost per ASKM is calculated at EBITDA cost level (2) *AOG refers to Aircraft on Ground
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Domestic P&L FY 2011

Rs Crores INCOME Operating Revenue Non Operating Revenues Total Revenues

Apr'10 Mar'11 (FY11)

Apr'09 Mar'10 (FY10)

Better/ (Worse) %

4,899 136 5,035

4,544 181 4,725

8% (25%) 7%

EXPENDITURE Employee Remuneration & Benefits Aircraft Fuel Expenses Other Operating Expenses 581 1,588 1,870 612 1,505 2,005 5% (6%) 7%

EBITDAR

996

604

65%

Aircraft Lease Rentals Total Operating expenditure

726 4,765

864 4,985

16% 4%

EBITDA

271

(260)

204%

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International Operating Parameters FY 2011

Apr'10 Mar'11 Parameters (FY11) No of Departures ASKMs (Million) RPKMs (Million) Passenger LF% Block Hours Revenue Passengers (Million) Total Revenue per ASKM in INR Cost per ASKM in INR 9,626 5,578 4,282 77% 42,330 1.25 2.62 2.85

Apr'09 Mar'10

Better/ (Worse) %

(FY10) 4,579 2,991 2,039 68% 20,360 0.54 1.81 3.26 110% 86% 110% 9 points 108% 132% 43% 13%

Average Gross Revenue per passenger in INR

9,704

8,416

15%

Note: (1) Cost per ASKM is calculated at EBITDA cost level

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International P&L FY 2011

Rs Crores INCOME Operating Revenue Non Operating Revenues Total Revenues

Apr'10 Mar'11 (FY11)

Apr'09 Mar'10 (FY10)

Better/ (Worse) %

1,460 1,460

546 546

168% 168%

EXPENDITURE Employee Remuneration & Benefits Aircraft Fuel Expenses Other Operating Expenses EBITDAR Aircraft Lease Rentals Total Operating expenditure EBITDA 95 686 551 128 258 1,591 (130) 77 298 370 (200) 230 976 (430) (23%) (130%) (49%) 164% (12%) (63%) 70%

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