India's grounded Kingfisher Airlines, 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 Rs 822 crore for its fiscal third quarter to end-December, compared with a loss of Rs 755 crore a year earlier.
Kingfisher has not flown since October 2012 for want of cash, and owes about $1 billion (or nearly Rs 6,000 crore) 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.
Copyright: Thomson Reuters 2014
Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.
