India's Kingfisher Airlines plans to exit its low cost business and focus on the premium model, Chairman Vijay Mallya said, in what will be a marked shift in an industry where most carriers are betting on the low-cost space. Kingfisher, run by the flamboyant Mallya who also heads the UB group, operates the low cost arm under Kingfisher Red. "We are doing away with Kingfisher Red because we do not wish to compete in the low cost segment," Mallya told reporters on the sidelines of Kingfisher's annual general meeting. "We believe that there are more than enough guests who prefer to travel the full service Kingfisher class and that shows through in our own performance where load factors in the Kingfisher class are more than Kingfisher Red". Link to article..