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PUBLISHER: The Load Star (

India’s airlines are finding themselves deep in the red after the dual headwinds of Covid disruption and high fuel prices sent the industry into a tailspin.

According to a study by market research firm CRISIL, the three top Indian carriers, IndiGo, SpiceJet and Air India, are expected to see a combined net loss of over Rs200bn (US$2.7bn) – the worst ever – in the fiscal year ending 31 March.

This is 44% worse than the Rs138.53bn ($1.86bn) they collectively bled in the previous fiscal year.

The trio commands about 75% of the domestic passenger market, but SpiceJet and Indigo have added much-needed cargo capacity into the under-served domestic Indian network – SpiceJet offers some 600 tons on a daily basis and also has five 737 freighters.

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