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  • Business Today

    HITTING AN AIR POCKET

    Oct 31, 2019 5 minutes
    By MANU KAUSHIK
    ILLUSTRATION BY RAJ VERMA

    IN JUST one quarter, the fortunes of the aviation sector have gone from best to worst. The second quarter earnings of India’s largest carrier, IndiGo, have come has a shock. Low-cost carrier (LCC) IndiGo, which controls 48.2 per cent of the market, posted a net loss of ₹1,062 crore in the July-to-September period, which is in sharp contrast to its record-high net profits of ₹1,203 crore in the previous quarter. The LCC blamed the falling rupee for its losses.

    The second quarter results of other carriers in all likelihood are going to be equally disappointing.

    The chain of events that contributed to the (now what seems like a short-lived) revival of the sector is beginning to reverse: ATF (aviation turbine fuel) prices are rising, rupee

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