The domestic aviation industry could incur losses of $3.3 billion to $3.6 billion in the first quarter of fiscal 2021 due to the coronavirus outbreak, CAPA, an aviation advisory, said on Wednesday.
CAPA estimates that domestic airlines could lose approximately $1.75 billion, airports and concessionaries between $1.5 and $ 1.75 billion, and ground handlers between $80 million and $90 million during the first quarter of fiscal 2021.
CAPA’s estimates are based on airlines being grounded till April 15, although currently the grounding is till March 31. CAPA feels the impact of Covid-19 will be so severe that even the stronger carriers may not be immune to it.
