Domestic Airlines May Save Losses by 90% This FY: ICRA

Domestic Airlines May Save Losses by 90% This FY: ICRA

The domestic airlines may trim the net loss by as much as 90% during the current financial year due to a sudden strong demand in the second half of the fiscal, rating firm ICRA said.

If ICRA’s prediction is correct, then the domestic airlines will have to bear a net loss of only Rs. 100 crores compared to the 1,000 crores that was reported in the previous financial year.

An ICRA executive also said that all major airlines are expected to generate higher net profits in FY18 than FY17.