Tuesday, June 29, 2021

Indian airlines are burning cash of Rs 50 crore-Rs 60 crore daily, says ICRA’s Kinjal Shah

Indian airlines are spending Rs 50 crore-60 crore every day during the second wave of COVID-19 as they operate at very low capacity since March due to lockdowns and restrictions in various states, said Kinjal Shah, vice president & co-head, corporate ratings, at ICRA.

In an interview with Moneycontrol, Shah said domestic airlines lost a sizable portion of their revenue as domestic air passenger traffic fell in April and May and it will take at least another few months to reach February 2021 levels.
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