CRISIL – Indian Aviation industry could return to profit in 2023-24

India’s aviation industry could return to profitability in 2023-24 for the first time since the pandemic, predicts CRISIL. In the latest forecast for Indian aviation market CRISIL forecasts aggregate net loss of 80% year-on-year (YoY) between INR 35bn and INR 45bn in FY 2022-23 as compared to INR 1750 crore net loss in FY 2021-2022. CRISIL attributes this profit to the strong passenger recovery and easing cost pressure due to stable fuel and foreign exchange (forex) costs. As per CRISIL records, domestic and international passenger traffic recovered to 90 % and 98% respectively, of pre-pandemic traffic (2019-20, or FY20), in