NEW DELHI : Indian airlines are expected to lose over $600 million ( ₹4,273 crore) in FY 2019-20 as compared to a previous estimate of full-year profit of $500 million to $ 700 million ( ₹3,561 crore to ₹4,985 crore), aviation consultancy and advisory agency CAPA India said on Tuesday.
“This is CAPA India’s sharpest downward revision in financial projections (of the airlines) within one quarter,” it said in a tweet.
Two of the largest airlines in India, InterGlobe Aviation Limited-operated IndiGo and Ajay Singh-controlled SpiceJet, which are both listed on the BSE, reported huge losses during the September quarter.
