According to aviation consultancy CAPA India, Indian airlines are expected to have a combined loss of USD 1.6 to 1.8 billion in the upcoming fiscal year.
The full-service carriers are predicted to lose between USD 1.1 billion and USD 1.2 billion. CAPA India noted that more than 100 aircraft from different Indian carriers are grounded as a result of supply chain and non-supply chain challenges when giving its outlook for 2023–2024.
Indian airlines are anticipated to have a combined loss of USD 1.6 to 1.8 billion in the upcoming fiscal year, according to research published on Monday by aviation consultancy firm CAPA India. For the full-service carriers, losses of between USD 1.1 billion and USD 1.2 billion are predicted.
By the end of the 2019 fiscal year, all carriers’ combined fleets are predicted to total 816 aircraft, according to CAPA India. It is anticipated that Indian airlines will acquire a net introduction of 132 aircraft over this period.
According to CAPA India, which also announced its forecast for 2023–24, about 100 planes from various Indian carriers are grounded as a result of supply chain and non-supply chain issues.
Jyotiraditya Scindia, India’s minister of civil aviation, stressed the potential for growth in the aviation sector during the same occasion and said that it is time for India to think about producing aerospace items. He added that the aggregate fleet size of domestic carriers is estimated to reach around 2,000 aircraft over the course of the next five to seven years.
For the manufacture of aerospace products, India should be considered. He emphasized the speed at which India’s aviation industry is growing and asserted that the country’s industrial sector is in an ideal position to prosper.
The minister emphasized that “we need to boost the ecosystem of Indian civil aviation” during a summit hosted here and sponsored by aviation consultancy CAPA. He asked them to come and take part in the story of the growth of modern aviation.
He claims that by the end of this year, up to 15 Flying Training Organizations (FTOs) could be established, bringing the total number of FTOs to 50. There are 35 FTOs in existence right now. He emphasized the expansion of the drone industry, stating that it is projected to reach a value of Rs. 3 lakh crore by 2030 and produce about 2.5 lakh employees.
He added, “We’re also looking at how to make doing business in India easier. In order to further increase the convenience of doing business, Scindia noted that consultations are currently being held to alter the Aircraft Act and the rules. All industries have an S-shaped evolution curve, and the minister noted that India is currently in the “infancy and growth phase” of its civil aviation industry.
