In India, with a share of almost 90% of people working in the informal economy, about 400 million workers in the informal economy are at risk of falling deeper into poverty during the crisis
Domestic air traffic is expected to drop to 80-90 million passengers in the current fiscal and delivery of more than 200 planes to Indian carriers are likely to be deferred by up to two years, according to a report. "The combination of COVID-related travel restrictions and an economic downturn is likelyto result in 1Q FY2021 being a virtual washout for the Indian industry. "The second quarteris historically the weakest period for demand and hence airlines are only likely to limp back into recovery," aviation consultancy CAPA India said on Monday. As a result, CAPA said the majority of the fleet is likely to be surplus to requirement during the first half of the current financial year. In its report titled 'COVID-19 & the State of Indian Aviation Industry,' the aviation consultancy forecast domestic traffic to decline to around 80-90 million this fiscal from an estimated 140 million in FY2020. International traffic is expected to fall from approximately 70 million in the previous .
The top 10 airports are likely to be made operational first; international travel to open up last
According to the International Air Transport Association (IATA), airlines could lose a quarter of a trillion dollars in revenue this year as commercial flights come to a grinding halt.
In a letter dated Saturday and seen by Reuters, carriers wrote that "given the urgent and immediate need, it is essential that these funds be disbursed as soon as possible."
Puts ratings for three airports "under watch negative"
The US Senate passed an industry aid package, half in the form of grants to cover some 750,000 employees' paychecks
Package announced includes both food security and cash transfer components
India has banned international commercial passenger flights for a period of one week from Sunday. Moreover, domestic flights have also been suspended from Tuesday midnight
Extent of March pay cut not known, lowest pay grades will suffer least; domestic airlines have sought urgent funding from govt to pay 50% staff salaries for next three months
The aviation industry is expected to make a loss of $67 billion in 2020 and several airlines are expected to file for bankruptcy in the coming months
The firms currently have 633 aircraft and the government said they would operate only 200 of these
AAPA urged all governments to take immediate action to address the societal impact of the world's worst public health crisis in a century
Many airlines have probably been driven into technical bankruptcy or substantially breached debt covenants already, Sydney-based consultancy CAPA Centre for Aviation warned in a statement Monday
The aviation regulator issued the advisory as customers have been forced to cancel travel on government orders but are unable to claim a full refund from airlines because of fare rules
There are 30 international airports in the country and on an average, these aerodromes receive about 70,000 international passengers
The airport authority aims to spend a minimum of Rs 5,000 crore each year on the infrastructure in line with the government's announcement that 100 new airports will be developed in five years
The US-based aircraft engine maker Pratt & Whitney on Thursday announced that Air India's arm AIESL will maintain the company's geared turbofan (GTF) engines in the country. At present, Pratt & Whitney (P&W) has more than 700 aircraft in service in India, including more than 150 GTF-powered A320neo family aircraft. A320 neo planes have been grappling with snags for nearly four years. A substantial number of such neos are operated in India by IndiGo and GoAir. P&W has already a tie-up with Air India Engineering Services Ltd (AIESL) for maintenance of its 4056 engine model. These engines power Boeing 747-series aircraft. AIESL will service PW1100G-JM engines at its facility in Mumbai, P&W, which is a part of the United Technology Corporation (UTC), said in a release. PTI had reported it last week that P&W had signed an agreement with AIESL for its engine maintenance services in India. With AIESL performing maintenance on our high-tech GTF engines, we are excited .
The plea has alleged that despite being aware of "significant technical issues with Airbus A320neo," neither MCA nor the DGCA have taken any concrete steps to ground these aircraft
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