Kingfisher Airlines Q1 net loss widens to Rs1,157 cr
15 Aug 2013 9:22 PM GMT
Kingfisher Airlines, which had never posted a profit in its eight years of operation, reported a net loss of Rs. 1,157 crore for the three months to June compared with a net loss of Rs. 651 crore a year earlier but lower than a record Rs. 2,142 crore loss for the March quarter.
The airline, which has been grounded for 10 months, owes more than $1 billion to a consortium of mostly state-run banks and hundreds of millions of dollars more to airports, tax authorities and others, according to a news agency.
After its flying licences expired last year, Kingfisher Airlines, controlled by Vijay Mallya, has twice submitted revival plans to the regulator in bids to restart operations, but the authorities are yet to be convinced.
The airline, which has been grounded for 10 months, owes more than $1 billion to a consortium of mostly state-run banks and hundreds of millions of dollars more to airports, tax authorities and others, according to a news agency.
After its flying licences expired last year, Kingfisher Airlines, controlled by Vijay Mallya, has twice submitted revival plans to the regulator in bids to restart operations, but the authorities are yet to be convinced.
Next Story
