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Indian airliners to suffer $4.1 billion losses due to pandemic
By: Tupaki Desk | 4 Jun 2021 8:08 AM GMT
4.1 billion US dollars.. yest $4.1 billion... this is the loss that the airline companies in India are likely to incur in financial year 2022. The loss would be similar to the losses suffered in Fy 2021. These estimates are based on the assumption that there would be no third wave. In case there is a third wave, the situation could be far too worse.
According to the airlines, continuous service disruption due to the corona pandemic is the villain of the piece. Both the years put together, the total loss in 2021 and 2022 would be of the order of $ 8 billion. Consultancy firm Capa India report, which is released recently says the industry needs at least 5 billion dollars to tide over the crisis. Among the worst sufferers are Indigo and the Air India.
But, there is a silver lining. The air traffic is likely to go up in 2022. An estimated 80 milliion people, according to Capa India, are likely to fly in 2022. This will be higher than 52.5 million people who flew in 2021. Capa India says that there could be a major recovery in June, when the second wave subsides.
According to the airlines, continuous service disruption due to the corona pandemic is the villain of the piece. Both the years put together, the total loss in 2021 and 2022 would be of the order of $ 8 billion. Consultancy firm Capa India report, which is released recently says the industry needs at least 5 billion dollars to tide over the crisis. Among the worst sufferers are Indigo and the Air India.
But, there is a silver lining. The air traffic is likely to go up in 2022. An estimated 80 milliion people, according to Capa India, are likely to fly in 2022. This will be higher than 52.5 million people who flew in 2021. Capa India says that there could be a major recovery in June, when the second wave subsides.
