Indian aviation sector 'in crisis': International Air Transport Association

New Delhi: India's highly competitive aviation sector is in "crisis," crippled by high costs and exorbitant taxes, the International Air Transport Association (IATA) said on Wednesday.
India's major carriers, including state-owned Air India, lost around $2 billion in the last fiscal year to March and are carrying debts of some $20 billion.
"India's aviation is in a multi-faceted crisis. Before the aviation sector can deliver greater benefits to the Indian economy, this crisis must be resolved," IATA director general Tony Tyler said.
The global aviation industry is watching the Indian sector with concern, Tyler told a business audience in New Delhi, noting that of India's six main carriers only privately owned Indigo is making money.
"The financial situation of Kingfisher (owned by liquor baron Vijay Mallya) is dire and (state-run) Air India is on government life support," Tyler said.
25/07/12 AFP/Economic Times

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Categories: Foreign Jul 2012, Indian Aviation- In General Jul 2012