23-Nov-2011 10:46 AM

Kingfisher Airlines auditors notes need for fresh infusion of funds

Kingfisher Airlines auditors B K Ramadhyani & Co stated (14-Nov-2011) the carrier will have to infuse more funds into the carrier for it to remain operational (PTI, 22-Nov-2011). The carrier's ability to meet its financial obligations depends on fresh infusion of funds, B K Ramadhyani & Co said. Referring to a statement by Kingfisher that while its net worth has eroded the financial results have been prepared on a "going concern basis", the auditors said: "The appropriateness of the said basis is inter alia dependent on the company's ability to infuse the requisite funds for meeting its obligations." [more - original PR]