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Kingfisher Airlines net loss, as expected, has increased 61 per cent to Rs 753 crore

Kingfisher Airlines net loss, as expected, has increased 61 per cent to Rs 753 crore (Rs 7.53 billion) for the second quarter, compared to Rs 468 crore (Rs 4.68 billion) a year ago. Total income plummeted eight times to Rs 200 crore (Rs 2 billion) from Rs 1,552 crore (Rs 15.52 billion). The operating loss was Rs 202 crore (Rs 2.02 billion), and due to adjusting for finance cost of Rs 401 crore (Rs 4.01 billion), a one-time cost of Rs 448 crore (Rs 4.48 billion) due to re-delivery of cost and restructuring, the net loss was at Rs 753 crore (Rs 7.53 billion. The company has a significant debt of Rs 8,000 crore (Rs 80 billion) to a consortium of Indian bankers; the company has not been able to service the interest costs for most part of the last year. The UB-Group-owned airline said it was continuing with its holding plan and was preparing to file a comprehensive revival plan. Red flag Raising concern on the financials, Kingfisher's auditors said the carrier's s