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Some domestic airlines are facing existential crisis: Icra

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MUMBAI : Some domestic airlines, that were already facing financial stress, are staring at an existential crisis in the wake of the coronavirus pandemic, a report said on Thursday.

Indian carriers are expected to incur combined losses of ₹5,100-6,100 crore in the period between March 25 and May 31, with their per-day lose averaging around ₹75-90 crore, rating agency Icra said as commercial flight services remain suspended since March 25. "While some airlines have sufficient liquidity and/ or financial support from a strong parentage, which will help them sustain over the near term, some airlines, which were already in financial stress, are facing (an) existential crisis," Icra said.

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