Data monitor: Airlines facing steepest-ever loss in FY22

India’s airlines are flying towards their steepest-ever net loss of more than Rs 20,000 crore this fiscal — 44% more than the Rs 13,853 crore bled last fiscal — owing to the twin headwinds of the third wave of the Covid-19 pandemic and high aviation turbine fuel (ATF) prices, CRISIL Ratings has said.

This would push the industry’s recovery beyond FY23, its analysis based on three large airlines – IndiGo, SpiceJet, and Air India – has shown.