MUMBAI: Shares in Kingfisher Airlines drop 11.5 percent to hit new record lows, dropping for a sixth day on expectations the ailing carrier will report a big April-June net loss later in the day.
Kingfisher has also been routed after rivals Jet Airways (JET.NS) and SpiceJet (SPJT.BO) posted surprise quarterly profits last week, partly as they benefit from reduced operations by the embattled carrier.
Media reports this week that Kingfisher cancelled a slew of flights from Delhi and Mumbai due to a strike by a section of its employees is also hurting sentiment.
Kingfisher shares have fallen 60.6 percent in 2012 as of Thursday's close, compared to a gain of 13.6 percent in India's benchmark index. AGENCIES