Turbulence continues in the Indian aviation sector as Pawan Hans undergoes financial crisis after beleaguered carriers Kingfisher Airlines and Jet Airways. India’s national helicopter carrier Pawan Hans said in a circular sent to employees on Thursday that the company cannot give their salaries for April as it is facing “uncomfortable financial position,” ANI reported.
Pawan Hansa said that the industry’s future is uncertain as many of its established businesses and associated challenges are threatening future deployments. The company’s revenue plummeted in the financial year 2018-19 while reporting Rs 89 crore in net loss for the same period, the circular said.
The carrier also said that search trends have been financially downturn due to ‘serious mismatch’ that has occurred between its revenue income (based on the existing business volume) and its expenses, particularly related to the staff cost.
