MUMBAI (Reuters) ? Cash-strapped Kingfisher Airlines, which has cancelled scores of flights in recent weeks, cannot afford to fly heavily loss-making routes, its chairman said on Tuesday.
"We cannot, as a private company, fly routes that are heavily loss-making," Vijay Mallya told reporters.
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.
(US$1=50.3 rupees)
(Reporting by Aniruddha Basu)
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