Middle East Conflict Airline Profits: Middle East conflict to cut airline profits 10-15% this fiscal as ATF costs, rupee pressure bite: Report
Operating profits of Indian airlines are expected to decline 10-15 per cent this fiscal year as elevated aviation turbine fuel (ATF) prices, airspace restrictions and rupee depreciation caused by the Middle East conflict weigh on the sector, a Crisil report said on Wednesday.The rating agency estimated that the combined operating profit of domestic airlines could…