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Indian Airlines Face Steep Losses
17 Apr
Summary
- Airlines likely to report sharp losses for the March quarter.
- Full fiscal year expected to show significant losses for carriers.
- Past year offered a stark contrast with record profits and low costs.
The just-concluded March quarter is anticipated to be sharply loss-making for Indian airlines. For the full fiscal year, carriers such as IndiGo, Air India, SpiceJet, and Akasa are projected to report substantial losses, raising concerns about a potential deepening of financial stress within the sector in the upcoming year.
This financial downturn presents a stark contrast to the situation approximately one year prior. During that period, Indian airlines experienced a boom with sky-high airfares and benign jet fuel prices. IndiGo, for instance, achieved record profits nearing USD1 billion across the two fiscals leading up to March of the previous year.
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