Wednesday, December 26, 2018

Rewind 2018: Aviation sector was a story of contrasting fortunes

The aviation sector was a story of contrasting fortunes in 2018. While market leader Interglobe Aviation, or Indigo, added its 200th aircraft in December, rivals Jet Airways and Air India are trying to forge partnerships and seeking funds to stay afloat.

While Air India’s divestment plan failed to attract a single bidder, Jet Airways Chairman Naresh Goyal is negotiating with Etihad Airways to save the airline. The industry was hit badly by the surge in the prices of aviation turbine fuel. This, coupled with the depreciating currency, increased the operating costs of airlines. In the second quarter, IndiGo, Jet Airways and SpiceJet posted a combined loss of Rs 23.38 billion. Things are, however, better in the current month, as ATF prices have declined on a month-on-month basis.
25/12/18 Aneesh Phadnis/Business Standard

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