25 Nov '11, 3pm

Turbulent times for India's #aviation industry - from @ChannelNewsAsia

NEW DELHI : India's aviation industry, once dubbed a sunrise sector, seems to have run into some turbulence. All carriers, except one, bled over the last quarter and are facing a severe cash crunch. Figures for the aviation sector are a cause of concern. During the September quarter, India's largest carrier Jet Airways reported a loss of US$140 million, while number two Kingfisher lost US$92 million. According to an industry lobby, domestic private carriers have lost a combined US$680 million till September this year. It is a money guzzling sector and high and fluctuating prices of aviation turbine fuel (ATF) have made it worse. It makes up 50 per cent of operating costs. With the addition of high landing and navigation charges, the profit margins remain low. India's domestic air market, which was growing at double digits earlier, crashed after the global slowdown, and has...

Full article: http://www.channelnewsasia.com/stories/economicnews/view/...

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