Mumbai, Oct 28 (Inditop.com) Private carrier Kingfisher Airlines has posted a net loss of Rs.419 crore for the quarter ended Sep 30 as compared to a loss of Rs.483 crore reported during the like period last year.
The airline, owned by liquor baron Vijay Mallya’s UB Group, said in a regulatory statement Wednesday that its income from operations declined over 13 percent to Rs.1,142 crore during the quarter under review from 1,323 crore a year earlier.
Kingfisher’s market share was over 23 percent last month and its load factor increased by at least 9 percent despite cut in its operations by 17 percent in the domestic sector.
The airline has undergone losses despite restructuring its operations and having adopted cost control methods due to high operational costs and global economic turmoil which has hit hard the aviation industry worldwide.
