NEW DELHI: Hit by COVID-19 pandemic and steep rise in jet fuel prices, aviation industry’s losses can peak up to Rs 42,000 crore in two financial years.
According to credit ratings agency ICRA, the Indian aviation industry is expected to report a net loss of Rs 25,000-26,000 crore in FY2022 while the same may moderate to Rs 14,000-16,000 crore in FY2023. In FY21, Airlines in India (excluding SpiceJet) suffered cumulative losses of Rs 15,086.3 crore.
