Mumbai: Debt-ridden Kingfisher Airlines Friday reported a net loss of Rs.4,301.11 crore for the financial year ended March 31, 2013 against a loss of Rs.2,328.01 crore the previous year.
The airline has been defunct after its scheduled air operator's permit was suspended by the Directorate General of Civil Aviation (DGCA) due to safety concerns and labour problems since October, 2012.
According to a regulatory filing at the Bombay Stock Exchange (BSE), the airline said it had incurred a loss of Rs.2,141.80 crore in the fourth quarter of the last fiscal -- up from 1,151.52 crore during the corresponding quarter of 2011-12.
The company's scrip at the BSE fell 4.98 percent or 0.31 percent around 3.00 p.m. at Rs.6.03 per share from its previous close of Rs.6.34.
The airline currently has accumulated losses of about Rs.16,023.46 crore as of March 31, 2013 and its net worth stood at a negative Rs.12,919.81 crore.
The airline has an estimated debt of around Rs.8,000 crore, which it owes to a consortium of banks, aircraft leasing companies, airport operators, oil marketing companies (OMCs) and other vendors.
31/05/13 IANS/Business Standard
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The airline has been defunct after its scheduled air operator's permit was suspended by the Directorate General of Civil Aviation (DGCA) due to safety concerns and labour problems since October, 2012.
According to a regulatory filing at the Bombay Stock Exchange (BSE), the airline said it had incurred a loss of Rs.2,141.80 crore in the fourth quarter of the last fiscal -- up from 1,151.52 crore during the corresponding quarter of 2011-12.
The company's scrip at the BSE fell 4.98 percent or 0.31 percent around 3.00 p.m. at Rs.6.03 per share from its previous close of Rs.6.34.
The airline currently has accumulated losses of about Rs.16,023.46 crore as of March 31, 2013 and its net worth stood at a negative Rs.12,919.81 crore.
The airline has an estimated debt of around Rs.8,000 crore, which it owes to a consortium of banks, aircraft leasing companies, airport operators, oil marketing companies (OMCs) and other vendors.
31/05/13 IANS/Business Standard
