Debt-ridden and with no customers, Kingfisher Airlines Ltd posted a Rs 7.55 billion (Rs 755 crore) loss in the three months to December 31 as its planes sat idle, creditors circled and regulators rebuffed the Indian airline's revival plans.
The airline, once India's second-biggest, has spent the past few months negotiating with its creditors
Shares in Kingfisher fell 2 percent on Monday ahead of the results release. Its shares have fallen 56 percent over the past year, making it the third worst-performing global airline in terms of stock price, according to Thomson Reuters Starmine.
Kingfisher, controlled by billionaire Vijay Mallya, has never posted a profit in its eight years of operations, and lost a combined Rs 33.1 billion (Rs 3,310 crore) in 2012.
(Additional reporting by Patturaja Murugaboopathy in Bangalore)
The 3 Cs of the Jet-Etihad deal: Cost, cargo, commerce
Etihad, Jet CEOs meet Chidambaram
PHOTOS: Force India make sure the car is the star
VIDEO: Jet Etihad 24% deal expected within a week
Stocks Corner: What to BUY, what to SELL!