Kingfisher trims net loss to Rs 188 crore

BANGALORE: Kingfisher Airlines, the aviation business of liquor baron Vijay Mallya, on Thursday reported that its loss for the nine-month period ended March 31, 2008, fell by nearly a fourth to Rs 188 crore from Rs 246.7 crore for the same period of 2007.
According to filing with the stock exchanges, income from operations was Rs 1,441.4 crore compared to Rs 1,271.4 crore while total income was Rs 1,545.5 crore (Rs 1,628.3 crore).

Kingfisher Airlines was created through the reverse merger of the airline with the listed low-cost carrier Deccan Aviation. The July-June accounting year was changed to one ending in March and hence the results for the nine-month period.

The results also include the income from the charter services business between July and December 2007. This business was sold through a slump sale effective January 1, 2008.

The filing also indicated that as against the Rs 363.3 crore which was to have been spent from the proceeds of Deccan Aviation���s IPO, the company had spent Rs 348.6 crore.