Kingfisher to import jet fuel cut costs

Bengaluru Kingfisher Airlines said it is working to import jet fuel directly to help lower operating costs after being granted a permit from the Indian government. Kingfisher is taking "active steps" to begin fuel imports, the Bengaluru-based carrier said. The airline, controlled by billionaire Vijay Mallya, is seeking funds from banks and investors as it cut at least a third of its flights in six months and asked some employees to stay home after posting more than 10 straight quarterly losses. Kingfisher has begun negotiations with oil marketing companies on fuel-import terms that will help save on local taxes.