Kingfisher Airlines posts second-quarter loss

Kingfisher Airlines posted a second-quarter net loss of 4.69 billion rupees ($94 million), compared with a net loss of 2.31 billion rupees a year earlier. The airline blamed a doubling of fuel costs for wiping out any revenue gains. Jet fuel expenses jumped 70% from a year earlier to 8.17 billion rupees, while other operating expenses increased 17% to 6.51 billion rupees while staff costs rose 6.4% to 1.83 billion rupees. Aircraft lease rentals, however, fell 1.2% to 2.49 billion rupees. The airline admitted that the company has “incurred substantial losses and its net worth has been eroded” and said