Kingfisher posts loss of Rs 418 cr

Vijay Mallya-controlled Kingfisher Airlines has reported a 13.4 per cent drop in its net loss at Rs 418.23 crore during the second quarter ended September 30, compared with a net loss of Rs 483.2 crore in the corresponding quarter last year. Its income from operations declined by 13.6 per cent to Rs 1,142.1 crore during the quarter, compared to the same period a year earlier.

At the Ebitda (earnings before interest, taxes, depreciation and amortisation) level, domestic operations showed an operating loss of Rs 178 crore in the current period as against a loss of Rs 465 crore in the corresponding period last year. However, on an overall basis, the company has incurred an Ebitda loss of Rs 336 crore, including losses and costs associated with the recent startup of new international routes.

Kingfisher continues to remain the market leader in the domestic sector, with a share of 23.3 per cent in September 2009.

The airline has increased its guest count by 9 per cent in spite of a capacity reduction of 17 per cent in the domestic market.

Kingfisher says it has restructured its operations and has continued to maintain stringent cost control. It expects to show higher guest numbers and much stronger yields in the third quarter of this year.