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Kingfisher Airlines' net losses from ordinary activities more than trebled to Rs 1,151.52 crore during the fourth quarter of the last fiscal.
During the corresponding quarter of the previous year, the company's losses stood at Rs 355.54 crore.
The fourth quarter losses contributed to almost 50 per cent of the company's losses for the fiscal ended March 31, 2012. For fiscal 2011-12, the company's losses stood at Rs 2,328 crore (Rs 1,027.4 crore).
The company’s performance was impacted primarily due to additional fuel cost and additional cost due to depreciation of the rupee and lower revenue generation due to reduction of operational capacity in an attempt to contain losses, a press statement said.
To continue with holding plan
Troubled Kingfisher Airlines will continue its previously-stated 'holding plan' with a limited fleet, a company release said. The company is also simultaneously progressing on its aircraft reconfiguration plan to contain losses.
It has a "focused fleet re-induction plan and hopes to be back to full-scale operations in the next 12 months", the release said. The company believes this would be possible with its recapitalisation plans that it is confident of achieving, according to the release.
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