Some domestic airlines are facing existential crisis: ICRA

Mumbai: Some domestic airlines, that were already facing financial stress, are staring at an existential crisis in the wake of the coronavirus pandemic, a report said on Thursday.

Indian carriers are expected to incur combined losses of Rs 5,100-6,100 crore in the period between March 25 and May 31, with their per-day lose averaging around Rs 75-90 crore, rating agency ICRANSE 3.01 % said as commercial flight services remain suspended since March 25.

“While some airlines have sufficient liquidity and/ or financial support from a strong parentage, which will help them sustain over the near term, some airlines, which were already in financial stress, are facing (an) existential crisis,” Icra said.