Mumbai: Air India, Jet Airways and SpiceJet are expected to report combined losses of $1.2 billion for the year ended March 31, 2013, according to the Centre for Asia Pacific Aviation (CAPA).
“…this figure could rise higher as a weak outlook for March could trigger further promotional pricing,” the research and advisory firm said in a report.
The spiralling cost of aviation turbine fuel coupled with other factors such as the economic slowdown, devaluation of the rupee and high operational costs have contributed to the current financial condition of the airline companies.
CAPA says that Air India would incur losses of about $700 million or ?4,340 crore, which is about 20 per cent lower than the 2012-13 loss of ?5,200 crore.
18/02/14 Business Line
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“…this figure could rise higher as a weak outlook for March could trigger further promotional pricing,” the research and advisory firm said in a report.
The spiralling cost of aviation turbine fuel coupled with other factors such as the economic slowdown, devaluation of the rupee and high operational costs have contributed to the current financial condition of the airline companies.
CAPA says that Air India would incur losses of about $700 million or ?4,340 crore, which is about 20 per cent lower than the 2012-13 loss of ?5,200 crore.
18/02/14 Business Line
