Home / Companies / News / Airlines, hotels stare at uncertain future amid coronavirus spread: CARE

Airlines, hotels stare at uncertain future amid coronavirus spread: CARE

The aviation industry, which includes airports and their vendors and suppliers, might not fully recover soon from the impact of the coronavirus disease (Covid-19) pandemic.

coronavirus, flights, aircrafts, airlines, aviation

Premium

Passenger growth of airlines will fall sharply and might register a decline of 20-25 per cent in financial year 2020-21 (FY21), CARE said.

Dev Chatterjee Mumbai

4 min read Last Updated : Mar 31 2020 | 10:45 PM IST

Aviation, hotel and media companies face an uncertain future because of the 21-day lockdown in the country and would require a bailout from the government immediately, analysts said. The aviation industry, which includes airports and their vendors and suppliers, might not fully recover soon from the impact of the coronavirus disease (Covid-19) pandemic.

In an outlook analysis of the coming financial year, rating firm CARE said domestic scheduled airlines, too, have started facing severe cash flow pressures as they are not allowed to fly till April 14, which has resulted in salary cuts for employees. Even after the nationwide lockdown

Topics : Coronavirus airlines Aviation industry Indian Hotels Hospitality industry CARE Ratings

What you get on BS Premium?

Unlock 30+ premium stories daily hand-picked by our editors, across devices on browser and app.
Pick your 5 favourite companies, get a daily email with all news updates on them.
Full access to our intuitive epaper - clip, save, share articles from any device; newspaper archives from 2006.
Preferential invites to Business Standard events.
Curated newsletters on markets, personal finance, policy & politics, start-ups, technology, and more.

VIEW ALL FAQs

Need More Information - write to us at assist@bsmail.in