Indian airlines will ground 68 per cent of aircraft over the next two months because of the impact of the coronavirus outbreak (COVID-19), according to a calculation by the government. The firms currently have 633 aircraft and the government said they would operate only 200 of these.
This projection of the Ministry of Civil Aviation forms the basis of a relief package for the aviation sector, which has been the worst hit by COVID-19. The government has planned a host of measures as part of the relief package, including tax breaks on jet fuel, waiver of air navigation charges and parking charges at airports and soft loans at reduced interest rates to increase liquidity of airlines.
At a marathon meeting held on Thursday with chief financial officers of airlines and airports, the government calculated the quantum of losses airlines might suffer as passenger numbers fall daily.
