{"id":472930,"date":"2022-03-04T11:15:11","date_gmt":"2022-03-04T05:45:11","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=472930"},"modified":"2022-03-04T11:15:11","modified_gmt":"2022-03-04T05:45:11","slug":"indias-airlines-to-report-net-loss-of-rs-26000-cr-this-yr-pre-covid-recovery-only-in-fy24","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/indias-airlines-to-report-net-loss-of-rs-26000-cr-this-yr-pre-covid-recovery-only-in-fy24\/","title":{"rendered":"&#8216;India&#8217;s airlines to report net loss of Rs 26,000 cr this yr, pre-Covid recovery only in FY24&#8217;"},"content":{"rendered":"<p>New Delhi: India&#8217;s aviation industry is expected to report a net loss of Rs 25,000-26,000 crore this fiscal with elevated jet fuel prices and fare caps continuing to pose a major challenge for the airlines\u2019 profitability, according to domestic rating agency ICRA.<br \/>\nHowever, expected commencement of scheduled international operations and the waning \u2018Omicron\u2019 wave, will result in a notable recovery in passenger traffic in FY2023, it added. This will help the airlines post a reduced net loss of Rs 14,000-16,000 crore in the next financial year. The ratings agency also estimates that the industry will require an additional funding to the tune of Rs 20,000-22,000 crore during FY22-FY24.<br \/>\nICRA expects domestic air passenger traffic to witness a strong y-o-y growth of 50-55 per cent in 2021-22 supported by the fast pace of vaccination and gradual relaxations in restrictions by the regulatory authorities. But this recovery will be on a much lower base of FY2021 and it will be significantly lower than pre-Covid levels. Recovery to precovid levels is only expected by FY2024.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>New Delhi: India&#8217;s aviation industry is expected to report a net loss of Rs 25,000-26,000 crore this fiscal with elevated jet fuel prices and fare caps continuing to pose a major challenge for the airlines\u2019 profitability, according to domestic rating agency ICRA. However, expected commencement of scheduled international operations and the waning \u2018Omicron\u2019 wave, will result in a notable recovery in passenger traffic in FY2023, it added. This will help the airlines post a reduced net loss of Rs 14,000-16,000 crore in the next financial year. The ratings agency also estimates that the industry will require an additional funding to [&hellip;]<\/p>\n","protected":false},"author":44,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[220,130,137],"tags":[],"class_list":["post-472930","post","type-post","status-publish","format-standard","hentry","category-civil-aviation-the-times-of-india","category-newspapers","category-the-times-of-india"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/472930","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/44"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=472930"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/472930\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=472930"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=472930"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=472930"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}