Indian Airlines Revenue dropped by 86% in Q1 of FY21
On September 16th, the civil aviation minister stated that the Indian Airlines Revenue decreased over 85.7 percent. The aviation sector reported an income of Rs 3,651 crore for the quarter ended June 2020. According to the news, the government of India had closed airline services during the period due to the spread of COVID-19 across the world.
Besides, the Indian airline employee strength also dropped by 7.07 percent to 69,589 in July from 74,887 on March 31, 2020.
Moreover, the airport operational revenue for the first quarter also dropped to Rs 894 crore. It had published an operational revenue of Rs 5,745 crore in the same quarter a year ago.
According to the news, Indian domestic aviation services delayed from March 25th to May 25th. On account of lockdown and spread of COVID-19, said by the Civil Aviation Minister.
He also added that Indian carrier’s revenue for the Q1 declined from Rs 25,517 crore to Rs 3,651 crore.
However, the total revenue of India in the aviation sector has declined to Rs 1,531 crore during the April-June period from Rs 7,066 crore in the same quarter a year ago.
As per the source, in India, domestic aviation traffic decreased to 1.2 crores in the March-July period in the current financial year. It has reported 5.58 crore in the same quarter a year ago. At the same time, the International traffic also dropped to 11.55 lakh against 93.45 lakhs a year-ago period.
However, the scheduled domestic aviation services have been canceled, while special international aviation services received a green signal in July. Moreover, international airline service has been provided under the Vande Bharat Mission.