‘Airlines continue to face losses due to Covid, Ukraine conflict’: SpiceJet chairman

Indian carriers continue to face losses due to disruptions caused to the aviation industry by the Covid-19 pandemic followed by the Russia-Ukraine crisis, SpiceJet chairman and managing director Ajay Singh said at the HT Tourism Conclave. “Currently, all airlines are facing losses. A big hole was created during the Covid-19 pandemic across the world, the difference being the foreign governments realised the pandemic was a big issue and supported airlines by paying them money,” Singh said. India’s priorities were different and the government’s situation was difficult, which did not allow them to support airlines financially, the SpiceJet chairman said, as he claimed global airlines like Emirates, Singapore Airlines, Lufthansa and American carriers received total aid worth more than $16b from their governments. Soon after the second wave of Covid-19 pandemic (March to May 2021), air traffic started picking up but was interrupted after Russia’s invasion of Ukraine led to rise in oil and jet fuel prices, Singh said. “Today, of every ₹100 revenue we get, we are giving ₹70-75 to oil companies. We are expected to pay the airports, taxes, salaries, aircraft and maintenance from the remaining amount which is impossible,” he said. The SpiceJet managing director called for structural changes in the Indian aviation sector.<br/>