Kingfisher Airlines shrinks losses

Mumbai: India’s second largest airline by traffic, Kingfisher Airlines Ltd, on Friday reported a net loss of Rs1,647.22 crore for the fiscal ended March, down 23.01% from a net loss of Rs2,139.65 crore for fiscal 2009.
The airline’s improved performance was from better seat occupancy and cost reductions, even as sales dipped to Rs5,067.91 crore, 3.26% less than Rs5,238.98 crore in fiscal 2009.
In a statement, the airline said the carrier registered an improvement of Rs1,047 crore in operating losses.
Operating losses for fiscal 2010 stood at Rs899.36 crore against Rs1,806.64 crore in the previous fiscal.
Core operating losses before tax and other income stood at Rs414.42 crore in fiscal 2010 against Rs856.51 crore loss the previous year.
Other income more than tripled to Rs203.12 crore from Rs63.60 crore in fiscal 2009.
Kingfisher Airlines, however, did not declare its financial results for the quarter ended March 2010.
28/05/10 P.R. Sanjai/Live Mint

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Categories: Kingfisher May 2010