Kingfisher Airlines plans to raise equity as net losses amount to USD50.0 million in first quarter

Premium Analysis

Kingfisher Airlines reported a USD50.0 million net loss in 1QFY2010, ended 30-Jun-09, deepening losses of USD33.0 million in the previous corresponding period. The carrier cut capacity by 23% in the first fiscal quarter, while controlling reduction in revenue, which declined by just 6% year-on-year in the period to USD273.0 million.

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