Kingfisher Airlines posted a INR1.07 billion ($23.9 million) loss for the first six months of its fiscal year ended Sept. 30, The Economic Times reported. CEO Vijay Mallya said Indian LCCs are undercutting the market by offering low fares from which even the LCCs cannot earn profits. He has complained formally to India's Directorate General of Civil Aviation, writing in a letter to the agency that the fares are "not sustainable" and that "cash losses will only keep mounting."

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