Indian airlines are staring at a revenue loss of Rs 1.1-1.3 trillion over three financial years, including the current financial year, owing to the coronavirus pandemic, which has led to visa and travel restrictions, thereby severely affecting aviation industry across the world, according to a report.
Airlines are unlikely to recoup this loss as growth is not expected to return to pre-pandemic levels of double-digit increase at least in the medium term, CRISIL Research said.
“Indian airlines are staring at a massive Rs 1.1-1.3-trillion revenue forgone over financial years 2020 to 2022 because of the pandemic,” the report stated.
