Indian aviation to require funding of Rs 350-370 bn over FY2021-23: ICRA

ICRA expects the profitability of the Indian aviation industry to be adversely impacted in FY2021 due to lower revenues and high fixed costs. It estimates the industry to report a significant net loss of ~Rs. 210 billion in FY2021, against a net loss of Rs. 127 billion in FY2020, with the industry debt level increasing to ~Rs 500 billion (excluding lease liabilities) over FY2021-22 and the industry requiring additional funding of Rs 350-370 billion over FY2021 to FY2023.