KFA Q4 loss up 224% beaten by reduced capacity, weak rupee

Kingfisher Airlines' March quarter net loss shot up 224% to Rs 1,151 crore,year-on-year due to several unfavourable factors of which the prominent one being the company curtailing its operations by nearly 70% denting profitability.

KFA pared its schedule to 120 flights per day from 370 per day during the quarter as it could not afford operating cost and also has to repay loans of around $1.3 billion.

The company said that it incurred Rs 338 crore in restructuring operations and also had an incremental one-time loss of Rs 743 crore due to early delivery of aircraft. Like its peer Jet Airways, KFA financials too were impacted by a weak rupee and spiraling fuel cost.

The airline's income from operations also declined 120% to Rs 740 crore,YoY due to restricted sales on account of reduced capacity. But the airline is hopeful of scaling back to normal operations by this year, it said.