India’s airlines bleed away

India may be one of the fastest growing aviation markets in the world, but its aviation sector is going through an economic crisis. Indian carriers made a loss of Rs. 10,983 crore in 2012-13. The current year is likely to be no better. "Both Jet and SpiceJet may be headed for large full-year losses for 2013-14 before accounting for one-off adjustments such as sale and leaseback and other non operating income and benefits," aviation consultancy firm Centre for Asia Pacific Aviation (Capa) said in a recent report.

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