The aviation industry, once touted as a sunrise sector, seems to have run into turbulence . With all airlines, except Indigo, bleeding over the last quarter, and Kingfisher Airlines facing a severe cash crunch, it will be some time before the sector gets out of the dark cloud.
The figures are distressing. During the September quarter, Jet reported a loss of Rs 714 crore, SpiceJet Rs 240 crore and Kingfisher Rs 469 crore. As for Air India, the less said the better. The national carrier's total loss and debt burden stands at a staggering Rs 67,000 crore.
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