Business Daily from THE HINDU group of publications
Sunday, Nov 02, 2008
ePaper | Mobile/PDA Version | Audio | Blogs
Business Daily from THE HINDU group of publications Sunday, Nov 02, 2008 ePaper | Mobile/PDA Version | Audio | Blogs |
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Financial Performance Corporate Results - Airlines Kingfisher loss at Rs 483 cr Bangalore, Nov. 1 Kingfisher Airlines Ltd has posted a loss of Rs 483.26 crore on an income of Rs 1,322.64 crore for the quarter ended September 30, 2008. In the same period last year, the company's loss was Rs 253 crore on a turnover of Rs 445 crore. However, the company has said that the figures for the two quarters are not comparable as the July-September 2008 numbers are after the merger of Kingfisher Airlines and Deccan Aviation. For the quarter under review, employee costs accounted for Rs 218 crore, aircraft lease rental Rs 287 crore and aircraft fuel Rs 822 crore. In a press release, Kingfisher Airlines said that for the half-year ended September 30, 2008, the average price of aviation turbine fuel increased by 60 per cent. The impact on the airline was to the tune of Rs 640 crore, with fuel costs amounting to Rs 1,710 crore. The company is working towards reducing cost. It has reduced the capacity deployed and further reductions are planned. Two aircraft have been returned to the lessors with no additional cost and the company is in discussions for returning eight more aircraft. - Our Bureau More Stories on : Financial Performance | Airlines
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