Kingfisher Airlines reports heavy losses

Kingfisher Airlines reports heavy losses

37
0
SHARE

The ailing Kingfisher Airlines on August 11, 2012 said that its net loss widened by a whopping 147 percent to Rs. 650. 8 crores in the quarter ended June from Rs. 263.5 crore in the year ago period. The loss was due to the higher interests costs and cost on grounded planes even as the curtailed operations helped the airline to trim the operational expenses.

Among the three listed airline, Vijay Mallya’s carrier is the only one to have reported losses in the first quarter. On the other hand the other two airlines Jet Airways and SpiceJet registered surprise profits after being in the red for five consecutive quarters.