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Cash-strapped Kingfisher Airlines has reported a loss of Rs 468.6 crore for the second quarter ended September 30, 2011against a loss of Rs 362.2 crore reported in the same period a year ago.
Revenues for the quarter were up 10.5 per cent to Rs 1,528.1 crore (Rs 1,382.7 crore).
Kingfisher had suffered a loss of Rs 1,027 crore in 2010-11 and is estimated to have a debt of over Rs 7,000 crore.
The airline has cancelled several flights over the past few weeks.
PTI adds:
Bankers have made it clear that Kingfisher’s promoters will have to infuse Rs 800 crore worth of fresh equity into Kingfisher Airlines if they are to consider a second restructuring of the existing debt, even as the opposition mounted to any bailout of the private carrier.
The bankers have asked the troubled airline to come out with a “credible” plan.
The lenders — a 13-bank consortium led by SBI, who was yet to decide on ways to soften the troubled airline’s Rs 7,057.08-crore debt burden — are due to meet the Kingfisher management today.
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