Kingfisher Airlines Oct-Dec net loss narrows

Mumbai: Kingfisher Airlines narrowed its net loss for the third quarter as sales improved due to higher air traffic, it said on Friday.
Net loss shrunk to 2.54 billion rupees compared with a loss of 4.2 billion rupees the same period last year. Operating revenue rose 28 percent to 16.58 billion rupees.
The firm controlled by United Breweries Holdings, has seen its quarterly load factors rise to 87 percent versus 76 percent a year ago.
The quarter was hurt due to the unplanned grounding of 14 of its Airbus aircraft due to an engine snag before October last year, though some joined the fleet during the quarter.
"The aircraft recovery is well underway with 10 of the grounded aircraft flying by end of February and the rest before end of April."
Kingfisher is tied for the second place with IndiGo in the Indian market according to government data with identical market share of 18.6 percent. The Jet Group is the largest Indian domestic carrier with 25.4 percent market share.
11/02/11 Reuters

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Categories: Kingfisher Feb 2011