'Aviation sector may lose $1.5 bn'

New Delhi: Indian aviation industry will post the second highest losses globally — next only to the US — in 2008-09. While American carriers are likely to lose over $2 billion, India could end with a figure of $1.5 billion and together account for more than half of the $5.2 billion overall losses, according to International Air Transport Association (IATA) chief Giovanni Bisignani.
He asked the government on Wednesday to "wake up" and take much needed steps to save the industry. Terming the Indian situation 'critical', he said India needed to lower jet fuel prices, infrastructure charges and follow global standards.
"Fuel is the biggest factor impacting profitability. While fuel is 36% of average industry costs, it is up to 50% for some Indian carriersm," he asked for lower taxes and base cost charged by oil PSUs.
25/09/08 Times of India

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Categories: Indian Aviation- In General Sep 2008