Grounded Indian carrier Kingfisher Airlines has posted a net loss of Indian rupees (Rs) 7.6 billion ($143 million) in the quarter ended 31 December 2012.
The loss is a result of a Rs4 billion finance cost and a one-time aircraft redelivery cost of Rs2.7 billion, says the airline. The carrier made no revenue in the quarter as its operations remain suspended.
In the same period a year earlier, Kingfisher posted a net loss of Rs4.4 billion.
The beleaguered carrier said it has submitted a revival plan to the country's directorate general of civil aviation (DGCA) for the renewal of its scheduled carrier licence, and to restart operations.
"Kingfisher has made significant progress towards complying with DGCA's requirements," it adds.
Kingfisher grounded its fleet and suspended operations on 1 October 2012 after employees went on strike because of the non-payment of salaries. The DGCA then suspended its air operator's certificate on 20 October, after it failed to satisfactorily respond to a show cause notice.
The country's regulators has since said it is not convinced that Kingfisher's proposal to restart operations is viable as it lacks funding details.
Although the carrier had earlier said it was in talks with carrier Etihad Airways about a possible equity investment, that option seem unlikely as the Middle Eastern carrier said on 4 February that it is conducting due diligence on Jet Airways instead.