India’s aviation industry will crash-land this fiscal with a revenue loss of Rs 24,000–25,000 crore, according to CRISIL.
In its advisory, CRISIL stated that airlines will be the worst-affected, contributing more than 70 per cent of the losses, or Rs 17,000 crore, followed by airport operators with Rs 5,000-5,500 crore, and airport retailers (including retail, food and beverages and duty-free) with Rs 1,700-1,800 crore.
That would reverse the trend growth of 11 per cent per annum the industry has logged over the past ten years, making it one of the most adversely affected sectors of the economy.
The extended lockdown to contain the Covid-19 pandemic, which has stalled traffic on the ground as in the air, is expected to lead to enormous losses on infrastructure industries in both sectors.
