NEW DELHI: In the last few months, almost every airline in the country is facing some sort of crisis. After having a wonderful sail for two-three years, the aviation industry was hit severely last year when international crude prices went up and the value of domestic currency depreciated against the US dollar.
Excessive parking and landing charges, loads of debt and fare wars have also hit the performance of airlines.
The impact of the two macro factors was so big on the sector that every player witnessed their profits plummeting and losses mounting.
