Covid-19 lockdown to cause Rs 25,000 cr loss in revenue to aviation: Crisil
The extended lockdown to contain Covid-19 pandemic which has stalled traffic on the ground as in the air is expected to heap enormous losses on infrastructure industries in both sectors, analytics company Crisil said on Thursday. Its estimates indicate that the aviation industry will crash-land this fiscal year with a revenue loss of Rs 24,000 crore to 25,000 crore. Airlines will be the worst-affected, contributing more than 70 per cent of the losses or Rs 17,000 crore followed by airport operators with Rs 5,000 crore to 5,500 crore and airport retailers (including retail, food and beverages and duty-free) with Rs 1,700 crore to 1,800 crore. Read More