UB Group-controlled Kingfisher Airlines managed to narrow its losses by 38 per cent to Rs 1,027 crore in 2010-11 from Rs 1,647 crore in the previous year. It posted 23 per cent growth in top line at Rs 6,496 crore on the back of higher demand, stable yields and higher aircraft utilisation.
Kingfisher Airlines has been facing a tough financial situation and had to get special approval from the Reserve Bank of India for a debt recast in December 2010. According to a company statement, the aviation industry witnessed 20 per cent growth in 2010-11 and it (Kingfisher) managed to effectively capitalise on the increase in demand to achieve a 10 percentage point rise in domestic load factor.
Net loss as a percentage of total revenue reduced from 31.3 per cent to 15.8 per cent. Besides the improvement in operating performance, this was a result of the debt recast completed in December 2010.
24/05/11 Business Standard/Sify
To Read the News in full at Source, Click the Headline
0 comments:
Post a Comment