Airlines in India to register $600 million loss in FY 2019-20: CAPA

In its latest report, CAPA has forecast that Indian airlines will post a combined loss of $600 million and induct fewer aircraft in the current financial year. In June, CAPA reported that Indian carriers will post $500-700 million in profit. However, owing to weak results by IndiGo and SpiceJet, CAPA’s latest forecast reports losses by Indian carriers. IndiGo and SpiceJet posted losses of Rs 1,062 crore and Rs 462 crore, respectively, in the quarter ending September. According to CAPA, IndiGo will post an annual profit of $70-90 million, which is much lower that the $400-500 million forecast in June.  AirAsia India, Vistara, and Air India are also likely to post losses, while GoAir is expected to register a $25-30 million profit. CAPA estimates Air India to post a loss of $500 million this year.