India’s jet fuel demand set to be hit by sharp surge in COVID-19 infections
India’s jet fuel demand is expected to succumb to the latest headwinds — the mutant COVID-19 variant — as many states in the country impose lockdowns and countries worldwide ban flights, or restrict movements, to and from the South Asian nation to curb the spread of the variant.
“ICRA [Investment Information and Credit Rating Agency] continues to maintain a negative credit outlook on the Indian aviation industry. The outlook reflects ICRA’s view that the financial performance of Indian airlines is likely to remain weak in the near-to-medium term amid weak air traffic,” the agency said recently.