Sunday, May 17, 2020

Indian aviation industry will require Rs 350 billion over FY 2021-23: ICRA

The credit rating agency ICRA in its latest analysis noted that the domestic aviation industry of India will require additional funding of Rs 335-350 billion over the FY 2021-2023.
The Indian aviation industry is reporting a net loss of Rs 75-90 crore per day of the shutdown of operations. Which also means Rs 51-61 billion of loss over the period from March 25, 2020, to May 31. While some airlines have sufficient liquidity and financial support from a strong parentage, some airlines are facing an existentialist crisis.
Due to the decline in passenger traffic in FY 2021, the industry is expected to report revenue degrowth of 44 percent during FY2021. Industry-level debt is expected to be Rs 465 billion.
17/05/20 ITLN
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