Vijay Mallya-promoted debt-ridden carrier Kingfisher Airlines suffered a widened quarterly loss year-on-year as its revenues slipped steeply due to grounding of flights.

Kingfisher said its net loss widened to Rs 7.54 billion in the three months to September 30, from a loss of Rs 4.69 billion in the corresponding period of previous year.

Revenues slipped 87 per cent, from Rs 15.5 billion to settle at Rs 2 billion over the same period, as workers' strike forced the carrier to ground flights.

The carrier said in a statement that it net loss includes one-time charge of Rs 448 crore. It may be noted here that this carrier never reported a profit since its inauguration in 2005. It is currently burdened with a loss of Rs 8,000 crore and a debt of another more than Rs 7,524 crore.

The struggling carrier is now preparing a comprehensive plan to re-start its operations. The plan will soon be shared with the civil aviation regulator and bankers.

Stock in Kingfisher Airlines has lost 39 per cent so far this year. Before the announcement of the quarterly results on early Thursday, the stock was trading at Rs 12.8 a share, considerably down from the stock's all-time peak of Rs 334 in late 2007.