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
- Iran hangs woman convicted of killing alleged rapist
- Google's Pichai to oversee major products and services
- UPDATE 1-UK's Labour suffers setback as leader in Scotland quits
- Modi takes tea, but no questions, in first press event as PM
- UPDATE 2-Motor racing-Caterham and Marussia to miss next races - Ecclestone
The latest Reuters poll of 20 economists taken over the past week shows Asia's third-largest economy will likely grow 5.5 percent this fiscal year and 6.4 percent the next, slightly better than 5.3 percent and 6.3 percent expected in the July poll. Full Article
Euro zone risks "relapse into recession" without structural reforms - Draghi. Full Article
Kalki Koechlin on her role as a disabled girl in “Margarita, With a Straw” Full Article