Aviation sector might face losses up to USD 3.6bn in June quarter

The estimates for the potential sectoral losses assume that all domestic and international operations remain grounded until 30 June.
Sudha

Updated: Mar 26,2020 05:53:19 pm

Aviation sector might face losses up to USD 3.6bn in June quarter

26 March 2020 Current Affairs:Aviation consultancy Capa India reported that India's aviation industry is expected to post losses of $3-3.6 billion in the June quarter in its report titled 'Projecting the potential financial impact of COVID-19 on Indian aviation'. The loss is because the airlines have shared the bulk of the hit after the series of travel restrictions due to the COVID-19 pandemic.

Highlights:
♦ As per the forecast, the domestic carriers are to incur losses of about $1.75 billion next quarter. The airports and concessionaires are to incur losses of between $1.50 billion and $1.75 billion. 
♦ The ground handling industry is expected to report a loss of $80-90 million during the same period.
♦ The estimates for the potential sectoral losses assume that all domestic and international operations remain grounded until 30 June.
♦ It also stated the entire sector is now in a state of crisis, which will certainly impact FY2021 and quite possibly well beyond.
♦ It highlighted that the Indian airlines are not prepared for such a severe systemic shock.
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