KFA Q4 loss widens even as it stays grounded

Aviation regulator reviewing revival plan that Kingfisher submitted in April after rejecting a previous proposal saying funding pledged wasn't adequate

Kingfisher Airlines Ltd, grounded for about three quarters, has posted a wider net loss in the quarter ended March 31, at Rs 2,142 crore, compared with Rs 1,151.5 crore a year earlier. Kingfisher had no sales in the period.

The airline reported an employee expense of Rs 73.8 crore in the quarter. It also had aircraft lease cost of Rs 135 crore and other operating expense of Rs 242 crore.

<B>UB Holdings deep in red</B><BR>

UB Holdings has sunk deep into red with a net loss of Rs 190 crore for the quarter ended March, compared with the corresponding quarter in the previous financial year.
 

A rise of four times in interest costs to Rs 238 crore  hit the company. Total income rose three per cent to Rs 117 crore.

The company is expected to conclude part sale of its holdings in United Spirits to Diageo by the end of June, through which it would be getting about Rs 2,400 crore.