Clipped wings: An aircraft operated by IndiGo stands at Indira Gandhi International Airport in New Delhi. Indian carriers need as much as US$2.5bil to keep flying, according to estimates from Sydney-based CAPA Centre for Aviation. — Bloomberg
MUMBAI: Airlines in India are seeking at least US$1.5bil as an interest-free credit line from the government, Civil Aviation Minister Hardeep Singh Puri said, as lockdowns and restrictions linked to the coronavirus pandemic hit demand for air travel.
The carriers in what was until recently the world’s fastest-growing aviation market are also seeking to defer loan repayments by six months, without these borrowings getting classified as “non-performing, ” Puri said in a written reply in parliament.
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