At record Rs 20,000 cr, airlines may see 44% rise in FY22 loss: CRISIL

This would be 44% higher than the Rs 13,853 crore loss reported last year, agency says

Indian airlines are expected to post a record loss of over Rs 20,000 crore in the current financial year (April 2021-March 2022, or FY22) because of the third wave of the Covid-19 pandemic and higher aviation turbine fuel prices, rating agency CRISIL said on Friday.

The FY22 loss would be 44 per cent higher than the loss of Rs 13,853 crore reported last year, it added. CRISIL analysed the financial performances of Air India, IndiGo and SpiceJet for this report.

Domestic air travel saw a strong rebound after the second Covid wave, with traffic reaching 86 per cent of the pre-Covid level