Kingfisher Airlines Q2 losses soar; stock drops

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Kingfisher Airlines Q2 losses soar; stock drops
Debt-ridden Kingfisher Airlines, reported a net loss of Rs 754 crore for the second quarter ending September 2012, as against a loss of Rs 469 crore in a previous year.

Shares of the company dropped 2.42% to Rs 12.52 on BSE at 9.50 am IST.

The company said that the net loss includes one-time cost of Rs 448 crore. The company reported an operating loss of Rs 220 crores in this quarter.

Kingfisher Airlines is also preparing a comprehensive plan to re-start of operations which will be shared with the DGCA and bankers.

The airline has been grounded since 1 October which made the company incur substantial losses and affecting the company's networth.

On Wednesday, State Bank of India (SBI) warned to Kingfisher Airlines that it "will not fly" if it fails to fetch fresh capital by November 30.

Read more about: kingfisher, vijay mallya
Story first published: Thursday, November 8, 2012, 9:52 [IST]
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