Kingfisher Airlines posts $380 million loss

New Dehli, May 31 – Debt-laden Kingfisher Airlines Ltd, which has not flown since last October, reported yet another quarter of loss, and the resumption of operations is still not in sight as it struggles to win regulatory approvals.

 

Kingfisher, once India's No.2 carrier, said net loss widened to 21.42 billion rupees ($380 million) for its fiscal fourth quarter ending in March, compared with a net loss of 11.5 billion rupees a year earlier.

 

The company, controlled by liquor baron Vijay Mallya, is estimated to owe about $2.5 billion to banks, airports and others and its flying licences expired at the end of last year. Reuters