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India's ailing aviation industry hits air pocket
Coronavirus piles pressure on industry reeling from tepid travel demand, cash-flow problems
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Passengers boarding an IndiGo aircraft at Indira Gandhi International airport in New Delhi. The Indian airline, which has the biggest domestic market share and an enviable profitable run, announced a pay cut for its senior employees last Thursday.
PHOTO: AGENCE FRANCE-PRESSE
Debarshi Dasgupta India Correspondent In New Delhi , Debarshi Dasgupta
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India's aviation industry had been tipped to become the third largest air passenger market by 2024 with demand growing by double digits in recent years but the high-flying times are fast coming to an end.
Domestic passenger growth fell to just 3.74 per cent last year, compared with 18.6 per cent in 2018, figures that have cast a gloomy outlook on a sector that had become habituated to dizzying growth.
