MUMBAI Feb 5 Debt-ridden and with no customers, Kingfisher
Airlines Ltd posted a 7.55 billion rupees ($142 million) loss in the
three months to Dec. 31 as its planes sat idle, creditors circled and regulators
rebuffed the Indian airline's revival plans.
Kingfisher, which has been stripped of its flying licence, owes an estimated
$2.5 billion to banks, staff, airports and oil companies.
The airline, once India's second-biggest, has spent the past few months
negotiating with its creditors and India's aviation authorities. The country's
civil aviation minister has said Kingfisher needs at least $186 million to fly
Shares in Kingfisher fell 2 percent on Monday ahead of the results release.
Its shares have fallen 56 percent over the past year, making it the third
worst-performing global airline in terms of stock price, according to Thomson
Kingfisher, controlled by billionaire Vijay Mallya, has never posted a
profit in its eight years of operations, and lost a combined 33.1 billion rupees
($1 = 53.2550 Indian rupees)
(Reporting by Henry Foy; Additional reporting by Patturaja Murugaboopathy in
BANGALORE; Editing by Daniel Magnowski)