New Delhi: India has been under lockdown since 24 March. With a rise in the number of coronavirus cases in the country, it has been extended three times, with 17 May being the scheduled day to lift the measure. This has led to huge losses for the country's already ailing economy and paralysed sectors based on the mass movement of people.
Stating that the extended lockdown will mount enormous losses on infrastructure industries involving aviation, roads, and railways, the Credit Rating Information Services of India Limited (CRISIL), a global analytics company, said that roads and highways will rebound quicker than the aviation sector, despite sharp losses this quarter.
While the analytics firm estimated a $3.3 billion (INR 25,000 crore) revenue loss for aviation in the current year, it also pointed out that the lockdown induced by the pandemic has reversed the trending growth of 11 percent recorded by the industry for the past 10 years.
CRISIL’s estimates stated that in the aviation sector, the airlines will be the worst-affected - contributing more than 70 percent of losses - followed by airport operators and retailers.
Jagannarayan Padmanabhan, director, CRISIL Infrastructure Advisory, said, "These are preliminary estimates, and aggregate losses could increase if the lockdown is extended beyond the first quarter. As and when operations resume, overall operational capacity will hover at 50-60 per cent for the rest of the fiscal...”
07/05/20 Ilya Pitalev/Sputnik
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Stating that the extended lockdown will mount enormous losses on infrastructure industries involving aviation, roads, and railways, the Credit Rating Information Services of India Limited (CRISIL), a global analytics company, said that roads and highways will rebound quicker than the aviation sector, despite sharp losses this quarter.
While the analytics firm estimated a $3.3 billion (INR 25,000 crore) revenue loss for aviation in the current year, it also pointed out that the lockdown induced by the pandemic has reversed the trending growth of 11 percent recorded by the industry for the past 10 years.
CRISIL’s estimates stated that in the aviation sector, the airlines will be the worst-affected - contributing more than 70 percent of losses - followed by airport operators and retailers.
Jagannarayan Padmanabhan, director, CRISIL Infrastructure Advisory, said, "These are preliminary estimates, and aggregate losses could increase if the lockdown is extended beyond the first quarter. As and when operations resume, overall operational capacity will hover at 50-60 per cent for the rest of the fiscal...”
07/05/20 Ilya Pitalev/Sputnik
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