The domestic airline industry in India apparently lost between ₹10 to ₹25 crores for each day of operation between April to June, as the 2.0 wave wrecked havoc through the nation.
At the start of 2021, airline traffic had slowly begun to recover to nearly 80% of the pre-COVID levels, only to crash down almost 60% on average by April.
Going forward, although demand is expected to recover, strained balance sheets and screwed up financials will continue to plague airline stocks, turning off investors for a couple years at least.
Big picture — with heavy fixed costs and thin margins associated here, it's imperative a special financial rescue program is structured for the industry. So far, GOI has been mum.