In its latest research report, Nirmal Bang, an equity research firm said that Kingfisher Airlines can give good returns in the short term.

According to Nirmal Bang Research, the stock can be bought with a strict stop loss of Rs 54.

The report also stated that, if the stock maintains above 59 with average volume of 30 lakh shares, then it will hit a target of Rs 71.

Today (Oct 07), the shares of the company opened at Rs 59.85 on the Bombay Stock Exchange (BSE). The share price has seen a 52-week high of Rs 73.45 and a low of Rs 22 on BSE.

It is discovered that Kingfisher Airlines have dropped heavily on non-performing personnel, even as a big part of its pilots are departing the airline to join low-priced carrier Indigo and other competitors.

It is considered that Kingfisher Airlines had fired about five maintenance engineers due to poor performance four weeks ago. In addition, a lady maintenance engineer in Delhi was also given the dismissal order on Oct 6.

Kingfisher Airlines stated that it's a part of an current performance review practice, employees from all functions go through regular performance appraisal exercise.

Kingfisher Airlines during Sep 2009, said that the company may lift up $175 million selling shares and GDRs to pay back its arrears.

The airlines may look for between $80 million and USD 100 million in a rights offer and an additional $60 million to $75 million selling GDRs.