SBICAP sells 1.69 crore shares of Kingfisher Airlines

SBICAP Trustee Company has offloaded 1.69 crore shares worth over Rs 4.52 crore of crisis-ridden Kingfisher Airlines. Post sale, SBICAP’s stake in the grounded carrier has come down to 10.10% from 12.19%.

For the October-December quarter, Kingfisher reported a net loss of Rs 822.42 crore. The airline, which has not flown for more than a year, had reported a loss of Rs 755.17 crore in the year-ago period.

Burdened under huge losses and large debts, the airline stopped flying in October 2012 and its flying licence also lapsed about two months later.