According to aviation consultancy CAPA India, Indian airlines are expected to have a combined loss of USD 1. 6 to 1. 8 billion in the upcoming fiscal year. The full-service carriers are predicted to lose between USD 1. 1 billion and USD 1. 2 billion.
CAPA India noted that more than 100 aircraft from different Indian carriers are grounded as a result of supply chain and non-supply chain challenges when giving its outlook for 20232024. Indian airlines are anticipated to have a combined loss of USD 1. 6 to 1. 8 billion in the upcoming fiscal year.
Jyotiraditya Scindia, India’s minister of civil aviation, stressed the potential for growth in the aviation sector during the same occasion and said that it is time for India to think about producing aerospace items.
He added that the aggregate fleet size of domestic carriers is estimated to reach around 2,000 aircraft over the course of the next five to seven years. For the manufacture of aerospace products, India should be considered.
He emphasized the speed at which India’s aviation industry is growing and asserted that the country’s industrial sector is in an ideal position to prosper. The minister emphasized that we need to boost the ecosystem of Indian civil aviation during a summit hosted here and sponsored by aviation consultancy CAPA. He asked them to come and take part in the story of the growth of modern aviation.
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