MUMBAI Nov 8 India's debt-ridden Kingfisher
Airlines, grounded for over a month after a violent
staff protest and concerns about safety, widened its quarterly
loss from a year ago because of a steep decline in revenues.
The company said it is preparing a comprehensive plan to
restart operations soon.
The airline posted a record net loss of 7.54 billion Indian
rupees ($139.46 million) for the September quarter, compared
with a loss of 4.69 billion rupees a year earlier.
Revenues declined 87 percent to 2 billion rupees from 15.5
billion rupees a year ago.
Kingfisher is preparing a comprehensive plan for re-start of
operations which will be shared with the airline regulator and
bankers, the carrier said in a statement.
Kingfisher shares are down 39 percent this year, closing at
12.8 rupees before the earnings release early on Thursday, a
tiny fraction of their all-time peak above 334 rupees in late
($1 = 54.0650 Indian rupees)
(Reporting by Aditi Shah; Editing by Jeremy Laurence)