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Aug 11, 2012, 04.11 PM IST
Kingfisher Airlines (KFA) grappling with liquidity crunch has posted a net loss of Rs 650.8 crore in the quarter ended June 2012.
The loss jumped 147% year-on-year, but quarter-on-quarter the same declined by 43.5%. The loss was led by high fuel cost, high interest rate, rupee depreciation, extraordinary expenses on account of return of aircraft to the lessors and the cost associated with non-operating aircraft.
Operating loss during the quarter increased 156% YoY to Rs 204 crore, but halved QoQ due to reducing the high level of operations in the current high cost environment through a 20 aircraft 'holding operation'.
Income from operations declined 84% YoY and 60.5% QoQ to Rs 301.4 crore in the first quarter of FY13.
Finance cost increased nearly 33% QoQ and 25.4% YoY to Rs 383.35 crore.
The UB group provided cast support of over Rs 750 crore to the airline to meet its cash flow requirements during the quarter.
Other income increased more than doubled quarter-on-quarter and nearly trebled year-on-year to Rs 92.7 crore.
Redelivery cost increased significantly YoY to Rs 167.34 crore from Rs 4.67 crore, but the same declined sharply QoQ from Rs 648 crore.
Restructuring/idle costs, which represents fixed cost associated with curtailment of operations relating to aircrafts on ground, stood at Rs 208.7 crore as against Rs 338.3 crore in the previous quarter.
Tags: Kingfisher Airlines
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