Indian aviation industry may incur losses worth Rs 26,000 cr in FY22: Report

MUMBAI: Pandemic-hit Indian aviation industry is expected to report a net loss of Rs 25,000-26,000 crore while its debt level may increase to Rs 1.2 lakh crore in the ongoing fiscal year, credit ratings agency ICRA said on Tuesday.

Also, the industry will be requiring an additional funding of Rs 45,000-47,000 crore over FY2022 to FY2024, it said.

According to ICRA, in the near term, the balance sheets of Indian carriers will remain stressed until they are able to reduce their debt burden through a combination of improvement in operating performance and / or through equity infusion.

ICRA has thus maintained its negative credit outlook on the Indian aviation industry.