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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.

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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
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