Rating agency Icra on Monday revised the outlook for the country’s aviation sector to stable from negative, citing fast-paced recovery in the domestic air passenger traffic.
The industry’s loss in the current financial year is projected to be Rs 11,000 crore to Rs 3,000 crore and reduce to Rs 5,000 to Rs 7,000 crore in the next fiscal, it said in a report.
While noting that the trend of passenger traffic is expected to continue in FY24, the agency said the industry has also witnessed improved pricing power, as reflected in the healthier yields and thus the revenue per available seat kilometre-cost per available seat kilometre spread of the airlines.
