Government forms 3 panels to revive aviation industry

NEW DELHI: Weeks after taking charge of civil aviation ministry, Jyotiraditya Scindia has formed three committees to advise him on industry-related issues. The three advisory committees comprise of CEOs and promoters of airlines, airport operators and maintenance and repair organisations (MRO), cargo carriers, flight training organisations and ground handling companies.

Hit hard by the Covid-19 pandemic, airlines in India continue to incur huge losses with no signs of a recovery in near future. According to rating agency ICRA, Indian airlines had seen net losses of Rs 21,000 crore in FY21 and estimated a net loss of Rs 12,700 crore for FY22, with the industry debt level increasing to around Rs 50,000 crore in the ongoing fiscal.