Kingfisher Airlines widens 1QFY2012 loss

Kingfisher Airlines reported a widened net loss of INR2.64 billion (USD58.3 million) in 1QFY2012 (three months ended 30-Jun-2011) compared with a loss of INR1.87 billion (USD41.5 million) a year earlier, due to increased fuel costs, intense competition in the domestic market and a shift in the market towards low fare travel. These factors have negatively impacted margins and offset increased revenues from higher demand levels, load factors and yields and a debt recast that has helped reduce interest costs.

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