Saturday, August 11, 2012

Kingfisher Airlines....If wishes were horses, Beggars would ride, is a saying.........

Posted by Neelam Mathews
Aug 11, 2012

Kingfisher Airlines says it continues to believe it will get recapitalized and get on a path of sustained profitability. It hasn't given up on financial investors to bring fresh capital.(!).

Kingfisher says in Q1 FY13, it has halved its operating losses to Rs 204 crore from Rs 429 crore in Q1 FY12. This was achieved by reducing the level of operations in this high cost of environment through a 20 aircraft 'Holding Operation'. (It will be interesting to see the next Qr results).

The airline blames high expenses including ATF and "extraordinary expenses on account of return of aircraft to lessors' and non-operating aircraft-related costs that resulted in a loss after tax if Rs 851crore.

The UB Group has provided cash support of over Rs 750 crore says KFA.

Pix- Business Review

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