Domestic carriers may post loss of Rs 21,000 crore this fiscal: Icra

Domestic carriers are expected to post losses to the tune of Rs 21,000 crore this fiscal as against a net loss of Rs 12,700 crore reported in the financial year ended March 2020, impacted by lower revenue and higher costs, ratings agency Icra said on Thursday.

At the same time, the industry’s debt level is also expected to increase to around Rs 50,000 crore (excluding lease liabilities) over 2021-22, while it would require an additional funding of Rs 35,000-37,000 crore over 2022-23, it said in the release.