Kingfisher Airlines flies deeper into losses in Q4

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.

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.