There seem to be some green shoots emerging in domestic aviation. According to the civil aviation ministry, air passenger traffic has doubled between the fourth week of May and the third week of August, with non-metro routes like Srinagar-Delhi and Patna-Delhi seeing the highest demand.
However, the hospitality industry continues to struggle. In fact, the Federation of Hotel and Restaurants Association of India (FHRAI) has written to the union finance minister as well as the RBI governor making a plea for an extension of the loan moratorium period by three months.
According to the association, 90 percent of hospitality loans will be declared NPAs after August 31, as average occupancy remains in the doldrums at between 10-20 percent.
The global tourism industry, meanwhile, has seen losses of around $320 billion in the first 5 months of this year, according to the United Nations secretary general.
26/08/20 CNBC TV18
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However, the hospitality industry continues to struggle. In fact, the Federation of Hotel and Restaurants Association of India (FHRAI) has written to the union finance minister as well as the RBI governor making a plea for an extension of the loan moratorium period by three months.
According to the association, 90 percent of hospitality loans will be declared NPAs after August 31, as average occupancy remains in the doldrums at between 10-20 percent.
The global tourism industry, meanwhile, has seen losses of around $320 billion in the first 5 months of this year, according to the United Nations secretary general.
26/08/20 CNBC TV18
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