India airlines flying into stronger profits: study

New Delhi: India's private airlines are set to post stronger profits this year and order up to 200 new aircraft as the economy rebounds from the global financial crisis, a study said on Wednesday.
The airline sector has been one of the most vibrant symbols of economic progress by the country of 1.2 billion people, but it was buffeted by the global slump of 2007-2009 which slowed the domestic economy.
The Singapore-based Centre for Asia Pacific Aviation forecast in a study on the Indian sector that carriers would report total profits of $350-$400 million for this financial year to March 2012.
The centre had estimated a profit of $250-$300 million for private carriers in the financial year just ended.
However, struggling state-run Air India is expected to announce losses of $1 billion to $1.25 billion, the centre said, up from an estimated loss of $650 to $700 million for the last year.
Indian private carriers are also expected to place orders this year for up to 200 new aircraft with a list price of $11-$12 billion, the centre forecast.
07/04/11 AFP

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Categories: Indian Aviation- In General Apr 2011