Kingfisher recorded unaudited losses of INR651 crore in the quarter ending 30 June.

The airline did successfully cut operating losses during this period to INR204 crore from INR429 crore a year earlier, following stark service cutbacks.

However it could not stem losses completely due to high fuel charges, interest charges, plus the costs of returning aircraft and non-operating aircraft, all heightened by a depreciating rupee.

As Jet Airways and SpiceJet posted profits in the same quarter, the airline remains confident of recovery. Currently in talks with investors over fresh investment, an airline statement read: “Kingfisher continues to belief it will get recapitalised and get on the path to sustained profitability.”

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