Domestic aviation sector will need extra Rs 35,000 cr between FY21-23: ICRA

In the forecast, Icra has included an aggregate of all the five private sector players -- IndiGo, SpiceJet, GoAir, Vistara and AirAsia India -- to make the balance sheet

The domestic aviation industry, which has been impacted by coronavirus pandemic and subsequent lockdown, will require an additional funding worth Rs 32,500 to 35,000 crore during FY21-23, according to rating agency Icra.

It also said the industry-level debt is expected to increase to Rs 465 billion (around Rs 46,500 crore) over FY 2021-22.

At the same time, the industry is expected to report revenue de-growth of 44 per cent and a negative CAGR (compound annual growth rate) of 26 per cent in 2021-2023, Kinjal Shah, Vice President at Icra, said during a webinar on Thursday.

"Considering the daily net loss