New Delhi: Losses for the domestic airline sector are expected to exceed Rs 3,000 crore ($500 million) in the second quarter ending September 30, according to the India Aviation Monitor, released on Tuesday by the Centre for Asia Pacific Aviation (CAPA).
The report points out that every airline in India is estimated to be in the red during the quarter (excluding one-time adjustment) with Jet Airways estimated to post the highest loss of close to $150 million. Incidentally, the CAPA report comes less than 24 hours before the airline board is to meet on October 23, to consider and approve its unaudited financial results for the quarter and half year ended September 30. SpiceJet is expected to post a loss of Rs 420-480 crore compared with the previous record of Rs 250 crore, the report said. “These estimates include one-off items,” the report said.
Both the carriers will also report full year losses (excluding one-off adjustments and non-operating incomes).
Read News In Full 22/10/13 Business Line
Thursday, 24 October 2013
Domestic airlines may post losses of over Rs 3,000 cr in Q2: CAPA
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