150 crore rupees loss daily for aviation sector, how will the dream of coming to the top-3 be fulfilled

Due to Coronavirus, the aviation sector of India is losing more than Rs 150 crore daily. Around 4,500 domestic and international flights operate daily, which has been greatly affected by Corona. The central government has said to ban domestic flights from 24 March. The loss will only increase further. So far, domestic aviation service has registered a decline of 30 percent.

One of the main reasons for the aviation industry to fall apart is the various countries withholding flights in their airspace. India is the fifth largest aviation market in the world in terms of air travelers. The roadmap which was prepared by the country’s aviation industry to become the third major market in the world by 2024, now that target is expected to be pushed away Due to coronavirus

585 international flights canceled, Rs 8,400 crore lost!
According to the Federation of Indian Chambers of Commerce and Industry, 585 international flights have been canceled due to coronavirus infection. This has caused a loss of over Rs 8,400 crore to the Indian aviation industry. Overall, revenue has also fallen by 40 percent. Many airlines have had to cancel their flights in advance, including Spice Jet, Vistara and Go Air.

Here, the Center for Asia Pacific Aviation had reported the possibility of insolvency of the air industry by April 2020, then some airlines personnel had to face pay cuts. According to the National Investment Promotion and Facilitation Agency, it was said to invest $ 120 billion in the development of infrastructure in the aviation industry. Its blueprint was also ready.

Everything was decided like which city airport to upgrade and where to build new airports. Now, due to Corona, the crisis has started to cloud this investment. It may be that the plan goes in cold bag for many years now.

Half of the revenue
An official of the Directorate General of Civil Aviation (DGCA) says that the air industry is suffering huge losses due to Corona. Before the Corona crisis, domestic and international flights a day had revenue of around Rs 350-400 crore, which has now come down to half.

If we talk about normal days in the country, there are 4000 domestic and more than 500 international flights daily. More than 900 flights operate daily in Delhi alone. Due to the coronavirus, there are delays in booking, visa suspension, cancellation of flights and restrictions on flights to various countries coming to India.

Ficci gave these suggestions to overcome the crisis
Waiver of the payroll tax, reduction of excise duty on aviation turbine fuel ‘ATF’, a financial package from the government and the central government will also have to come forward to meet the current requirements. Apart from this, it has been suggested to reduce the revenue share of the Airport Authority of India.