Heavy losses and increased debt for Indian aviation sector

IATA’s Giovanni Bisignani has stated that India’s airlines are expected to post a $400 million loss in 2010 despite an increase in passenger traffic, and that a coordinated policy approach among government ministries is “urgently needed”  to shore up the gains made in India’s aviation industry. This against a backdrop of a $13 billion debt mountain for the Indian aviation sector. He made clear that while Indian aviation was shackled by red tape the sector was in danger of heavy losses and increased debt.