Covid-19 Impact: Indian aviation may incur ₹25,000-crore losses, says Crisil

MUMBAI: Credit rating agency Crisil has estimated that the Indian aviation sector, including airlines and airports, will witness revenue losses of ₹24,000–25,000 crore, as air travel remains suspended due to the national lockdown.

Airlines will be the worst-hit, contributing to more than 70% of the losses, or about ₹17,000 crore, followed by airport operators with ₹5,000-5,500 crore, and airport retailers, including retail, food and beverages and duty-free, with ₹1,700-1,800 crore, the agency said in a report.

This would reverse the trend growth of roughly 11% per annum, which the industry has seen in the past ten years, making it one of the most affected sectors of the economy, Crisil said.