Indian aviation sector struggles to overcome Covid-19 pandemic setbacks

NEW DELHI – India’s troubled aviation sector is gearing up for the entrant of two new airlines, including one that is being revived, even as the Covid-19 pandemic has resulted in airlines looking at an estimated loss of US$4.1 billion (S$5.6 billion) this financial year due to low demand.

Plans for a new airline called Akasa, by Indian business magnate and stocks trader Rakesh Jhunjhunwala, and a relaunch of Jet Airways, which shut down in 2019, are in the pipeline as India’s aviation sector, hit by two waves of coronavirus outbreak, goes through its most challenging period.

Please subscribe or log in to continue reading the full article.

Get unlimited access to all stories at $0.99/month

  • Latest headlines and exclusive stories
  • In-depth analyses and award-winning multimedia content
  • Get access to all with our no-contract promotional package at only $0.99/month for the first 3 months*

*Terms and conditions apply.

Join ST’s Telegram channel here and get the latest breaking news delivered to you.

Source: Read Full Article