Private air carrier Kingfisher Airlines today said it has reported a net loss of Rs 626 crore in the third quarter ended December 31, 2008, as compared to Rs 423 crore in the same quarter last year.
The increase in loss in the quarter was on account of initiation costs of international operations (Rs 174 crore) and the exchange rate impact of dollar-denominated expenses (Rs 60 crore), the company said in a statement issued here.
Vijay Mallya-led Kingfisher Airlines incurred losses due to interest expenses during Q3FY09, which increased by Rs 103 crore as compared to the same quarter last year and on account of operating costs in the quarter, which included provisions for contingencies for return of aircraft worth Rs 30 crore.
The company's net income during the period was Rs 1,447 crore as compared to Rs 1,353 crore in the same quarter in the previous year.
