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  • Mumbai: Auditors of debt-ridden Kingfisher Airlines on Tuesday said that the carrier's third-quarter net loss would have been much higher at Rs 1,090 crore, had it followed generally accepted accounting standards in realisation of aircraft-related costs, taxation and loans. For the third quarter ended December 31, 2012, Kingfisher today reported a net loss of Rs 755.17 crore - a sharp increase of 70 percent from Rs 444.26 crore in the year-ago quarter. The grounded airline did not report any revenue for the quarter, as against Rs 1,367.71 crore in the third quarter of previous fiscal. [caption id=attachment_614562 align=alignleft width=380

    Mumbai: Auditors of debt-ridden Kingfisher Airlines on Tuesday said that the carrier's third-quarter net loss would have been much higher at Rs 1,090 crore, had it followed generally accepted accounting standards in realisation of aircraft-related costs, taxation and loans. For the third quarter ended December 31, 2012, Kingfisher today reported a net loss of Rs 755.17 crore - a sharp increase of 70 percent from Rs 444.26 crore in the year-ago quarter. The grounded airline did not report any revenue for the quarter, as against Rs 1,367.71 crore in the third quarter of previous fiscal. [caption id=attachment_614562 align=alignleft width=380

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