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SpiceJet, Jet Airways, Air India may post combined losses of $1.2 billion in FY14

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SpiceJet, Tigerair sign agreement
SpiceJet, Tigerair sign agreement

Three Indian carriers, Jet Airways, SpiceJet, and Air India, are expected to post combined losses in excess of $1.2 billion for financial year 2014, with Jet Airways and SpiceJet likely to report record full-year losses, a Centre for Aviation (CAPA) India report has said.

“Air India is once again expected to incur the largest loss at close to $700 million, although this represents an improvement of approximately 20% year on year in local currency terms. Jet Airways and SpiceJet are likely to report record losses. In addition to their losses, Air India and Jet Airways are also likely to be impacted by travel agency defaults which have reached $40 million in Delhi in recent weeks and could increase further,” the CAPA report titled ‘Key Themes of CAPA India Aviation Outlook Report FY2015’, said.

“GoAir is expected to end the year with a break-even result or a modest profit which is disappointing after a promising first quarter. IndiGo will be the only carrier to report full year profitability but this too will be lower than our earlier estimates,” it added.

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