Arab Today, arab today india\s kingfisher loses 142m in third quarter
Last Updated : GMT 13:01:02
Arab Today, arab today
Arab Today, arab today

India\'s Kingfisher loses $142m in third quarter

Arab Today, arab today

Arab Today, arab today India\'s Kingfisher loses $142m in third quarter

Mumbai - AFP

India\'s ailing Kingfisher Airlines, whose planes have been grounded since October, posted a net loss of 7.55 billion rupees ($142 million) in the three months to December, the company said. The private carrier, controlled by liquor 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 4.44 billion rupees 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. Most of the carrier\'s 4,000-odd employees have not been paid since May 2012, which led to a strike by its pilots and engineers in October. A section of the staff now plans to take Kingfisher to court to recover their overdue salaries, calling for the company to be wound-up. Kingfisher was the worst-hit of India\'s airlines in 2012, with the industry plagued by high jet fuel prices, fierce competition, price wars and shabby airport infrastructure. Mallya is desperate for investments to get the airline running again. He has said Kingfisher was in talks with foreign investors -- including Abu Dhabi-based Etihad Airways -- for stake sale talks, after the government cleared investment by foreign airlines in the transport sector in September. Etihad has since said it is considering investing in India\'s Jet Airways. Aviation analysts have expressed doubts over whether any foreign airline would be interested in Bangalore-based Kingfisher given its debt load, which is estimated at $2.5 billion by the consultancy firm Centre for Aviation.

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today india\s kingfisher loses 142m in third quarter Arab Today, arab today india\s kingfisher loses 142m in third quarter

 



Arab Today, arab today
Arab Today, arab today Heart of Turkish Riviera is Alluring Seaside Escape

GMT 11:11 2017 Tuesday ,28 March

Heart of Turkish Riviera is Alluring Seaside Escape
Arab Today, arab today 5 Crafty Must-Have Limited-Budget Ideas

GMT 17:03 2017 Saturday ,25 March

5 Crafty Must-Have Limited-Budget Ideas
Arab Today, arab today Turkey says ends its military operation

GMT 07:53 2017 Thursday ,30 March

Turkey says ends its military operation
Arab Today, arab today Media host gives priority to problems of people

GMT 07:00 2017 Tuesday ,28 March

Media host gives priority to problems of people
View News in Arabic - Business: أخبار الشركات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Disaster costs nearly double to $175bn

GMT 10:42 2017 Tuesday ,28 March

Disaster costs nearly double to $175bn
Arab Today, arab today Campaign fights sexual harassment in Egypt

GMT 11:14 2017 Tuesday ,28 March

Campaign fights sexual harassment in Egypt
Arab Today, arab today 'Underwater wasteland' worries

GMT 10:32 2017 Thursday ,30 March

'Underwater wasteland' worries
Arab Today, arab today Prepares to give stargazers an eyeful

GMT 13:38 2017 Monday ,06 March

Prepares to give stargazers an eyeful
Arab Today, arab today Mercedes, VW recall million vehicles in China

GMT 09:16 2017 Wednesday ,29 March

Mercedes, VW recall million vehicles in China
Arab Today, arab today Uber grounds self-driving cars

GMT 09:11 2017 Monday ,27 March

Uber grounds self-driving cars
Arab Today, arab today Singer Rowida Attiya will issue a new song

GMT 07:38 2017 Tuesday ,28 March

Singer Rowida Attiya will issue a new song
Arab Today, arab today Trump moves to roll back Obama climate measures

GMT 08:39 2017 Wednesday ,29 March

Trump moves to roll back Obama climate measures

GMT 18:57 2017 Tuesday ,21 March

Accessories designer reveals her new collection

GMT 09:28 2017 Tuesday ,28 March

Trump poised to roll back climate protections

GMT 13:26 2017 Friday ,24 February

Expresses Algerian history by woody figures

GMT 07:50 2017 Thursday ,30 March

Breaking trans barriers one barbell

GMT 09:02 2017 Thursday ,23 March

Laptop ban sparks ire

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons

GMT 19:27 2017 Saturday ,11 March

Boualsof launches "Priestess Kahina" collection
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday