Mumbai: India’s ailing Kingfisher Airlines, whose planes have been grounded since October, posted a net loss of Rs7.55 billion ($142 million) in the three months to December, the company said on Tuesday.
The private carrier, controlled by beverage baron Vijay Mallya, has never made a profit since it started operations in 2005 and owes millions of dollars to banks, airports, fuel suppliers and its staff.
It had reported a loss of Rs4.44 billion in the same period the previous year.
Kingfisher lost permission to fly and its planes stand idle after a deadline to renew its suspended licence with the aviation regulator expired at the start of the new year.
“During the last quarter, Kingfisher did not have any operations,” the airline said, adding that a revival plan has been placed with the aviation regulator for renewal of the flying permit and restart of operations.
05/02/13 AFP/GulfNews
