Saturday, April 11, 2020

Indian Aviation Operators Hold On to Rs 6,000 Crores of Payment Made from Booking Flights Amid Coronavirus Lockdown

Mumbai:  The India aviation operators are estimated to be holding about Rs 6,000 crores of payment that were made ahead of all travel booking were called off. All these flights were suspended to curb the coronavirus spread in the country.

According to a report, published in the Economic Times, the airline carriers have allowed the passenger to cancel their respective flight tickets without penalty charges. However, instead of cash refunds, they are being offered credit vouchers, claim aviation consultants and senior industry executives.
Among the most disturbing news pouring in is, all the funds -- that aviation operators are holding -- are helping the airlines in India still staying afloat. With the help of some short-term loans, airline firms are managing the expenditure during the coronavirus lockdown.

It is to be known that all the domestic flights were halted from flying untill the 21-day lockdown period. The civil aviation ministry had suspended all international flight operation prior to the announcement of the complete lockdown. Reports are also arriving that Kerala government in mulling to suspend all flights untill the end of May.
11/04/20 Latestly
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