KFA’s total loss mounts to Rs 6,213 cr

Bangalore: Can you think of a business where a company loses Rs 2.30 on every 1 rupee of revenue it earns? No prize for guessing: the industry is India’s domestic aviation and the company — Kingfisher Airlines (KFA).
On Thursday, KFA reported that in the quarter ending March 31, 2012 (Q4) it earned revenue of Rs 741.28 crore while it lost Rs 1,704.58 crore (before write back of taxes), resulting in an absurd situation where the Vijay Mallya run airline’s loss was 2.30 times of the revenue. Total loss at the end of 2011-12 was at Rs 6,213 crore.
The Q4 was indeed very tough as KFA was forced to impose severe cuts in number of lights due to its fleet reconfiguration exercise and was also plagued by unscheduled cancellation due to pilots’ strike and non-payment of dues to some suppliers. Jet Airways too reported a 140 per cent jump in Q4 net loss to Rs 298.12 crore due to very high fuel prices and lower occupancy.
31/05/12 Dilip Maitra/Deccan Herald

To Read the News in full at Source, Click the Headline

Categories: Kingfisher Jun 2012