Kingfisher Airlines incurs Rs 716-cr loss


BANGALORE

UB Group’s Kingfisher Airlines, which has remained grounded for over a year, has reported yet another quarterly loss and no income from operations in the three-month period ended September 30.

The airline’s net loss for the quarter narrowed by 5% to Rs 715.55 crore for the second quarter from Rs 753.55 crore in the corresponding period last year. The airline had reported a revenue of Rs 200 crore in the same period last year when it was operational.

Expenses for the quarter dropped 80% to Rs 130 crore in the quarter from the same time last year when the airline was in service. The company also counted Rs 50 crore in employee cost, down by 43% from Rs 89 crore in the same period last  year.

Full report here Business Standard

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