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Indian Airlines in deep trouble of insolvency because of Coronavirus outbreak: IATA to Modi

Shortpedia

Content Team

Indian airlines declared itself in "grave and immediate danger" of insolvency. The IATA said to PM Modi that this is a result of disruption in air travel due to COVID-19. It also added that there has been a reduction of about 5.75 lakh jobs in the Indian aviation sector. The pandemic has caused a 9% loss in passenger volumes and US$2.1 billion loss in passenger base revenues for the Indian air transport market in the year 2020".