New Delhi: Private airlines are estimated to post combined profit of $250-300 million in the current financial year on the back of approvals from the government, unbundle services, to directly import aviation turbine fuel (ATF) and from savings in fuel consumption from introduction of satellite-based navigation systems and flexi use of civil and military airspace, Centre for Asia Pacific Aviation (CAPA) said in its report.
The overall industry, however, expected to remain in the red due to projected losses of $750-800 at Air India in FY13. In the last financial year, Indian airlines had posted combined losses to the tune of $1.65 billion as compared to $2.28 billion registered the previous fiscal.
While full service carrier Jet Airways is projected to return to profitability with net profit of over $125 due to paring of high interest rupee debt by $600 million and access to cheaper financing options by way of the alliance with Etihad, SpiceJet and GoAir are expected to book profits of $25-30 million and $8-10 million in the current year.
28/05/13 Sharmistha Mukherjee/Business Standard
To Read the News in full at Source, Click the Headline
The overall industry, however, expected to remain in the red due to projected losses of $750-800 at Air India in FY13. In the last financial year, Indian airlines had posted combined losses to the tune of $1.65 billion as compared to $2.28 billion registered the previous fiscal.
While full service carrier Jet Airways is projected to return to profitability with net profit of over $125 due to paring of high interest rupee debt by $600 million and access to cheaper financing options by way of the alliance with Etihad, SpiceJet and GoAir are expected to book profits of $25-30 million and $8-10 million in the current year.
28/05/13 Sharmistha Mukherjee/Business Standard
