Q2: Kingfisher Airlines net loss at Rs 418 cr

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Q2: Kingfisher Airlines net loss at Rs 418 cr
Mumbai, Oct 28: Kingfisher Airlines on Wednesday, Oct 28 reported a 13.4 per cent drop in its net loss at Rs 418.77 crore for the second ended Sep 30, 2009, against a loss of Rs 483.25 crore in the corresponding quarter in 2008.

Kingfisher Airlines said, "The company has changed its method of accounting for costs incurred on major repairs and maintenance for its engines."

"The company had not changed the method of accounting, the loss for the quarter and half year would have been higher by Rs 110.02 crore," the company said in a filing to the Bombay Stock Exchange.

Income from operations declined to Rs 1,142.14 crore for the quarter ended Sep 30, 2009.

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