Kingfisher Airlines has reduced its losses by about 45%. It made a net loss of Rs 230.81 crore in the second quarter ending September 30, compared to Rs 418.77 crore in same period a year ago.
However, operating revenue for Vijay Mallya’s airline grew by 24.26% to Rs 1,382.72 crore. Last year, the operating revenue in the July-September quarter of 2009-10 was Rs 1,112.70 crore.
The airline’s net income would have improved "by Rs 73 crore but for the cost incurred on account of unplanned grounding of aircraft", Kingfisher said.
As on March 31 2010, Kingfisher’s outstanding debt stands at Rs 6,000 crore – the bulk of it in long-term loans.