Indigo, Spice and other aviation players continue experiencing a turbulent Q1

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Arunava Bhattacharya,DNI; Major Low-cost air carriers Indigo and SpiceJet continue experiencing a rough Q1 of the Financial Year 2021. Interglobal Aviation the operators of Indigo Airlines reported a loss of Rs. 3,174.82 Crore for the first quarter. Things aren’t looking good for SpiceJet as well whose stocks are on a steady decline since 22nd July 2021. Surge in Global Crude oil prices and extensive localized lockdowns in several parts of the country amidst the Second wave of the Pandemic have been affecting the airlines operations in India thus attributing to the poor Balance sheet numbers.

Things aren’t look very bright for the Airlines sector for the near future as India saw a big jump of 43,000 new cases after 4 months. Many parts of the country are trying to adjust to the new normal by opening local business, travel and tourism leading to increased air travel. However, experts are warning of an impending 3rd wave which is very likely to affect the aviation sector yet again. It remains to be seen how the air carriers manage to stay afloat in the face of such overwhelming odds.

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