March 15, 2012
The Centre for Asia-Pacific Aviation (CAPA) expects India's airline industry to lose more than USD$2.5 billion in the next fiscal year if oil prices touch USD$135 a barrel, its chief executive for South Asia said.
The industry consultancy expects a USD$2.5 billion loss for the sector in the 2011/12 fiscal year that ends on March 31, Kapil Kaul said.
Troubled Kingfisher Airlines, which has a debt of about USD$1.3 billion, needs at least USD$500 million immediately to keep flying, according to CAPA.
The debt-ridden airline would need USD$800 million to return to full operations, Kaul said.
