Kingfisher Airlines posted another quarterly loss as the struggling Indian carrier fights to stay in business.
The airline posted losses of 6.51 billion rupees ($117.7 million) in April-June, compared with a loss of 2.64 billion rupees a year earlier.
Kingfisher has a whopping $1.4 billion in debt. Analysts project the airline, owned by liquor magnate Vijay Mallya, will need at least $500 million to keep running.
And they will need it soon.
Earlier this week, Kingfisher pilots walked off the job again because they are not getting paid. Many employees at the carrier have not been paid their salary in 4-5 months.
Kingfisher was started in 2005 and has never turned a profit.
Image: Flickr [tawheedmanzoor]