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Suspending International Flights Does Not Help Kingfisher Airlines

Despite the fact that Kingfisher Airlines cut international service and has been operating on a minimal domestic schedule, they have still been losing money.  The airline lost Rs 651 crore in the April to June quarter.  This is significantly higher than the losses experienced in the same quarter last year, which were Rs 263 crore.  The airline has never made a profit since it was launched in 2007.  However, it’s competitors, Jet Airways and SpiceJet, have managed to pull a profit in 2012.

 

Kapil Kaul, head of the aviation research firm Centre for Asia Pacific Aviation (CAPA) India, said that the actual losses for Kingfisher could be Rs 963 crore as they also have a deferred tax adjustment of Rs 312 crore.  The owner of the airline, Vijay Mallya, made a statement that sent the message that the airline will continue to operate despite the crippling setbacks, that accounts are being prepared on a “going concern” basis.

 

The above article is a summary.  Please see the source article at Google News.

This entry was posted on Sunday, August 12th, 2012 at 8:58 pm and is filed under flights industry news. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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