<p>Grounded carrier Kingfisher Airlines today reported a net loss of Rs 822.42 crore for the third quarter ended December 31, 2013.<br /><br /></p>.<p>The airline which has not flown for more than a year, had reported a loss of Rs 755.17 crore a year earlier, Kingfisher said in a filing to the BSE.<br /><br />With planes remaining on the ground, the airline had nil sales in the reporting quarter, similar to zero sales a year ago.<br /><br />The finance costs of Kingfisher for the reporting quarter stood at Rs 350.99 crore, against Rs 401.26 crore in the corresponding quarter of the previous year.<br /><br />The redelivery cost rose 45.83 per cent to Rs 400.73 crore, against Rs 274.80 crore for the comparable quarter a year ago.<br /><br />The airline, headed by liquor-baron Vijay Mallya, has not flown since October 2012, after employees went on strike demanding salaries.<br /><br />Kingfisher had never reported a profit since starting operations in 2005.<br /><br />Besides non-payment of salaries, the private carrier is saddled with huge debt and losses. The airline has a debt of over Rs 7,200 crore towards lenders, mainly public sector banks since January 2011.<br /><br />Shares of the company were trading at Rs 3, up 0.67 per cent from its previous close on the BSE.</p>
<p>Grounded carrier Kingfisher Airlines today reported a net loss of Rs 822.42 crore for the third quarter ended December 31, 2013.<br /><br /></p>.<p>The airline which has not flown for more than a year, had reported a loss of Rs 755.17 crore a year earlier, Kingfisher said in a filing to the BSE.<br /><br />With planes remaining on the ground, the airline had nil sales in the reporting quarter, similar to zero sales a year ago.<br /><br />The finance costs of Kingfisher for the reporting quarter stood at Rs 350.99 crore, against Rs 401.26 crore in the corresponding quarter of the previous year.<br /><br />The redelivery cost rose 45.83 per cent to Rs 400.73 crore, against Rs 274.80 crore for the comparable quarter a year ago.<br /><br />The airline, headed by liquor-baron Vijay Mallya, has not flown since October 2012, after employees went on strike demanding salaries.<br /><br />Kingfisher had never reported a profit since starting operations in 2005.<br /><br />Besides non-payment of salaries, the private carrier is saddled with huge debt and losses. The airline has a debt of over Rs 7,200 crore towards lenders, mainly public sector banks since January 2011.<br /><br />Shares of the company were trading at Rs 3, up 0.67 per cent from its previous close on the BSE.</p>