Indian aviation industry will require Rs 350 billion over FY 2021-23: ICRALogYcode
In its latest report, the credit rating agency ICRA noted that India’s domestic aviation industry would require additional funding of Rs 335-350 billion over the 2021-2023 fiscal year.
The Indian aviation industry records a net loss of 75-90 Rs of crore every day from operations shutdowns. Which also means losses of Rs 51-61 billion over the period from March 25 , 2020 through May 31. Although some airlines have ample resources and financial help from a large parentage, there is an existentialist challenge confronting some airlines.
Regardless of the decrease in passenger traffic in FY 2021, during FY2021 the industry is expected to record revenue decline of 44 per cent. Debt at the industrial level should amount to Rs 465 billion.
src : itln.in