ICRA – Indian operators to end FY24 on a profitable note

Indian airlines are expected to end the financial year 2024 on a much better note with significant decline in losses compared to the previous one, predicts Investment Information and Credit Rating Agency (ICRA). The Indian operators’ losses will reduce by around $600-840 million in FY2024, ICRA claims. Indian passenger demand post-pandemic has been revolutionary and led to India becoming one of the fastest recovering domestic markets in the world. “Still, global crises, including the war in Ukraine and the following rise in fuel prices, played a role in the sector’s financial health last year when its cumulative loss was estimated to