Grounded Kingfisher posts $132 million Q3 loss
NEW DELHI (Reuters) - Grounded Kingfisher Airlines(KING.NS), which has not flown in more than a year, reported yet another quarterly loss as it had no income from operations.
Kingfisher, once India's no. 2 carrier and headed by flamboyant liquor baron Vijay Mallya, said net loss was 8.22 billion rupees for its fiscal third quarter to end-December, compared with a loss of 7.55 billion rupees a year earlier.
Kingfisher has not flown since October 2012 for want of cash, and owes about $1 billion to banks, and more to airports and the tax office. Bids to revive operations have seen little success, while some creditors have filed so-called winding up petitions at a court.
Kingfisher had never reported a profit during its eight years of operations.
(Reporting by Devidutta Tripathy; Editing by Sunil Nair)
- Tweet this
- Share this
- Digg this
- India's demands block $1 trillion WTO deal on customs rules
- India, U.S. stress strategic ties but tensions remain
- Panasonic confirms will invest in $5 billion Tesla battery plant
- Millions of jellyfish-like creatures wash up on western U.S. beaches
- Israel, Palestinians locked in vicious circle of Gaza wars
India group ICVL to nearly triple coal output from mine bought from Rio Tinto. Full Article