India's Airlines seen losing more than $2.5 billion in FY13: CAPA

Centre for Asia-Pacific Aviation expects the loss if oil prices touch $135 a barrel

Travel News
Travel News

The Centre for Asia-Pacific Aviation (CAPA) expects India's airline industry to lose more than $2.5 billion in the next fiscal year if oil prices touch $135 a barrel, its chief executive of South Asia said.

The industry consultancy expects $2.5 billion loss for the sector in the 2011/12 fiscal year that ends on March 31, Kapil Kaul said.

Troubled Kingfisher Airlines, which has a debt of about $1.3 billion, needs at least $500 million immediately to keep flying, according to CAPA.

The debt-ridden airline would need $800 million to return to full operations, Kaul said.

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