Grounded Kingfisher posts $132 million Q3 loss

by mymazaa.com

Vijay Mallya's grounded Kingfisher Airlines has reported yet another quarterly loss as it had no income from operations. The airline has not flown in more than a year.

The low-cost carrier on Wednesday said net loss was Rs 8.22 billion for its third quarter ended December 31, compared with a loss of Rs 7.55 billion a year earlier.

Kingfisher Airlines 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 Airlines had never reported a profit during its eight years of operations.