Indian Aviation to Report over $1 Billion Consolidated Loss in FY24

New Delhi: Indian airlines are projected to record a consolidated loss of USD 1.6-1.8 billion in the next financial year, aviation consultancy CAPA India said on Monday.

The full-service carriers are expected to incur a loss of USD 1.1-1.2 billion.

According to CAPA India's forecast for 2023-24, Indian airlines are estimated to have a net induction of 132 planes next fiscal and will take the total fleet of all carriers to around 816 aircraft.

An increase in ATF prices would put pressure on costs. Also, there could be a decline in yields as a result of significant capacity addition, it added.

"Domestic and international air traffic are expected to be in the range of "160 million and 72-75 million in FY2024, respectively, with both increasing 20 per cent or more y-o-y," it said.

In the next fiscal, Indian airlines are expected to see a net addition of 132 planes and the total fleet size is projected to be 816. For this financial year, the fleet size is estimated at 684, including those aircraft on the ground.

CAPA India also said that more than 100 planes of various Indian carriers are on the ground due to supply chain and non-supply chain issues.

Original News: Aviation | Press Trust of India

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