Despite a healthy growth in passenger traffic, Indian airlines are expected to close FY24 with losses of Rs 7,000 crore according to rating agency ICRA
India's largest airlines have ordered nearly 1,000 jets this year, committing tens of billions of dollars to a spending spree that is unparalleled in aviation.
Domestic air passenger traffic is likely to grow 8-13 per cent in the current fiscal and the aviation industry is also expected to trim the losses further, credit rating agency Icra said on Thursday.
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Traffic data reveals that from January to May 2023, the passenger count reached a remarkable milestone of 6.36 crore, reflecting a substantial annual growth rate of 36.10% compared to the same period in the previous year., Industry News, Times Now