Kingfisher Airlines flies deeper into losses in Q4 | india | Hindustan Times
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Kingfisher Airlines flies deeper into losses in Q4

india Updated: May 31, 2013 21:12 IST
HT Correspondent
Vijay Mallya

Grounded Kingfisher Airlines widened its net loss to Rs 2,142 crore for the quarter ended March 31, 2013, against Rs 1,152 crore in the year-ago period.

The Vijay Mallya-owned carrier posted a net loss of Rs 4,001 crore during the fiscal year 2012-13 against a loss of Rs 2,328 crore in the previous fiscal year.

Its accumulated losses as on March 31, 2013, stood at Rs 16,024 crore and its net worth a negative Rs 12,919 crore.

The airline had no sales for the reporting quarter, compared with sales of Rs 783 crore in the year-ago period.

It has never made profit since it started operations in 2005.