Fuel costs, currency losses expected to push airlines deep into the red: Crisil
Prices of aviation turbine fuel (ATF) which accounts for 35 to 40 per cent of the total cost of airlines are expected to average 28 per cent higher on-year compared with fiscal 2018, according to the report.
"Airlines have sizeable foreign currency debt, while their revenues are largely earned in rupees," said Nitesh Jain, Director, Crisil Ratings.