Cash-strapped Kingfisher Airlines has been in the news for cancelling scores of flights in recent weeks. Many have criticized it for causing inconveniences to the passengers but chairman of the airlines Vijay Mallya defended the move, saying that the company cannot afford to fly heavily loss-making routes.
We cannot, as a private company, fly routes that are heavily loss-making, said Vijay Mallya. He added that they haven't asked the government for a bailout and that they would never ask it to dip into the taxpayers' money
Earlier on Tuesday, Kingfisher reported a doubling of its loss in the fiscal second quarter on higher fuel prices and operating costs, amid investor worries about its future, and said its net worth has been eroded.
The carrier has become one of the main casualties of high fuel costs and a fierce price war between a handful of airlines which, between them, have ordered hundreds of aircraft for delivery over the next decade in an ambitious bet on the future.