Friday, February 19, 2021

A stormy flight ahead

According to ratings agency Crisil, the Indian aviation sector is staring at revenue losses of Rs 1.1-1.3 lakh crore, due to the pandemic, over fiscals 2020 to 2022. Worse still, another ratings agency ICRA estimates that the country’s airlines would require around Rs 37,000 crore in additional funding over 2020-21 to 2022-23 to recover from losses and debt. ICRA maintains a “negative credit outlook” for the industry. It means moves to raise money through bank loans will prove to be costlier for airline companies.

Read more on the turbulence the industry faces and how they plan to fly forward >>

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