Kingfisher Air Q2 loss widens on idle cost, high taxes

Kingfisher Airline’s September quarter loss widened 61%, YoY to Rs 754 crore due to idle cost, high taxes and restructuring expense. The airline which has curtailed operations since a year had to completely shut operation last month due to staff protest on delayed salaries. The airline said it is preparing a comprehensive plan to resume operations.

Revenues of the airline also declined 87%, YoY to Rs 200 crore as it is not operating any flights of late.

Kingfisher shares are down 39 percent this year, closing at 12.8 rupees before the earnings release early on Thursday, a tiny fraction of their all-time peak above 334 rupees in late 2007.

Kingfisher shares are down 39 percent this year, closing at 12.8 rupees before the earnings release early on Thursday, a tiny fraction of their all-time peak above 334 rupees in late 2007.

Source: www.moneycontrol.com

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