Indian airlines expected to report net loss of Rs 5,000-7,000 crore in FY24: ICRA

Indian airlines are expected to see a sharp drop in net losses to Rs 5,000-7,000 crore this fiscal as they continue to witness healthy passenger traffic growth and improvement in their revenue, rating agency ICRA said on Thursday. The net loss would be much lower compared to the Rs 11,000-13,000 crore loss the industry is estimated to have reported for 2022-23 due to elevated aviation turbine fuel prices, coupled with depreciation of the rupee against the US dollar, it said.

The airlines have improved the cost of available seat kilometre to the cost of available seat kilometre (RASK-CASK) spread through better pricing discipline, it said.