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Aviation industry to report a net loss of Rs 21,000 crore in FY21!

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ICRA today said that it expects the aviation industry to report a significant net loss of Rs 21,000 crore in FY2021, against a net loss of Rs 12,700 crore in FY2020 due to lower revenues and high fixed costs.

ICRA estimates that the industry’s debt level will increase to Rs 50,000 crore (excluding lease liabilities) over FY 2021-22 and the industry would require additional funding of Rs 35,000 to 37,000 crore over FY2021 to FY2023.

ICRA also says that losses of airlines have reduced a bit post the unlocking of the Indian economy.

As international travel from India is unlikely to be allowed soon, ICRA expects the FY2021 international passenger traffic for Indian carriers to witness a significant YoY decline of 88-89%, higher than its earlier estimates of 67-72% decline.

News Courtesy: ET


 

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