Companies

Kingfisher airlines cuts losses on domestic demand

| Updated on: Feb 11, 2011
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A surge in domestic air travel has helped Kingfisher Airlines reduce its losses 39 per cent to Rs 254 crore for the third quarter of this fiscal.

A press statement from the company said domestic air travel grew 19 per cent during the quarter which led to an improvement of 11 percentage points in the load factor for the airline during the quarter.

The total revenues increased 26 per cent to Rs 1,676 crore during the quarter while operating revenues increased 28 per cent and non-operating revenues dipped 45 per cent. Passenger revenue grew 19 per cent and ancillary revenue grew 147 per cent.

Fuel expenses

Aircraft fuel expenses too grew 22 per cent though there was a 7 per cent drop in aircraft lease rentals to Rs 244 crore.

The airline's EBITDA for the quarter was Rs 91 crore compared with a loss of Rs 92 crore in Q3 for the previous fiscal.

The statement said the airline industry's capacity addition of 12 per cent continues to lag behind demand. This has led to a substantial increase in industry load factor of about 6 percentage points over the same quarter last year.

Published on November 12, 2017

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