Losses faced by airlines in 2022 will match the hit taken last year as per aviation consultancy and research firm CAPA. The airlines are expected to report losses over $4 billion in FY'22, which would take losses over 2 years of the pandemic to a whopping $8 billion.
CAPA expects airlines to ferry 80-95 million domestic passengers this year which is higher than the 52.5 million in the previous financial year. These estimates however do not account for a potential third wave.
Airlines are already reworking the math on cost with India's only profitable airline Indigo imposing leave without pay for all employees for 1-4 days a month. Fuel prices are also adding to the headache as crude prices continue to soar and aviation fuel is up over 7% in just the last month.