Kingfisher Airlines losses double
- Published: 11 Aug 2012 at 15.48
- Online news: News
Cash-strapped Kingfisher Airlines on Saturday said quarterly losses more than doubled from a year earlier, fuelling fresh doubts about the future of the private Indian carrier.
Kingfisher's net loss widened to 6.60 billion rupees ($120 million) in the financial quarter to June from a loss of 2.63 billion rupees in the same period last year, as revenues slumped due to reduced operations.
"The company has suffered substantial losses and its net worth has been eroded," the airline said in its earnings statement.
This article is older than 60 days, which we reserve for our premium members only.You can subscribe to our premium member subscription, here.
