NEW DELHI - With the number of coronavirus patients growing significantly in India each day, the world's third biggest domestic aviation market has also begun feeling the heat of a downturn caused by the pandemic.
It warns that the situation could deteriorate quickly causing a significant downward revision for its estimates. "With the precipitous drop in revenues, the very survival of the airline industry is now at stake," IndiGo CEO Ronojoy Dutta reportedly told the company's employees in an e-mail. Even airport operators in India are reeling from a cascading impact of the downturn in aviation business.
He added that airports have to pay for certain fixed costs, such as those incurred on maintaining runways and aprons, despite reduced air traffic.