Asia

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.

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