November 15, 2011

Clean Bold

The Kingfisher Airlines, which is going through a turmoil these days, has reported a loss of Rs 469 crore in the second quarter, ending September 2011.

The airliner had suffered a loss of Rs 231 crore in the corresponding quarter of last fiscal. The company is now reeling under a high debt of Rs 7,000 crore. Even though there has been a rise in revenues, it was not enough to cover the expenses and debt.

Kingfisher Airlines Chairman Vijay Mallya has called a press conference today to discuss the company's finances. The Kingfisher Board will meet a consortium of 13 banks tomorrow to discuss about its debt and finance options.

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