Indian airlines staring at over Rs 1.1 lakh crore revenue loss over 3 years: Crisil

MUMBAI: Indian airlines are staring at a revenue loss of Rs 1.1-1.3 lakh crore over three financial years, including the current fiscal, due to the coronavirus pandemic which has led to visa and travel restrictions, thereby severely affecting aviation industry across the world, according to a report.

Airlines are unlikely to recoup this loss as growth is not expected to return to pre-pandemic levels of double-digit increase at least in the medium term, Crisil Research said.

“Indian airlines are staring at a massive Rs 1.1-1.3 lakh crore revenue forgone over fiscals 2020 to 2022 due to pandemic,” the report stated.