Kingfisher in a thinner red
Vijay Mallya-promoted Kingfisher Airlines on Tuesday said it suffered a loss of Rs 1,027.4 crore in fiscal year 2010-11 against a loss of Rs 1,647.2 crore a year ago.india Updated: May 24, 2011 21:57 IST
Vijay Mallya-promoted Kingfisher Airlines on Tuesday said it suffered a loss of Rs 1,027.4 crore in fiscal year 2010-11 against a loss of Rs 1,647.2 crore a year ago.
The reduction in loss by around 38% year-on-year was due to restructuring of loans and improved performance of the airline, the company said. The company’s earnings before interest, tax, depreciation and amortisation (EBIDTA) stood at Rs 140 crore against a loss of Rs 690 crore last year.
The company did not disclose its fourth quarter result.
Fuel costs increased by about 15% but the cost per available seat per kilometer went down by 2.4%. Domestic operations saw revenue per available seat kilometer improved 19% while the same for global operations rose by 43%.
The airlines’ domestic revenues increased 130% to R776.0 crore in 2010-11. International operations continued in the red with a loss of Rs 78.0 crore in the current fiscal year against a loss of R341 crore in the previous fiscal.
The company, however, projected a positive outlook for the aviation industry.