Indian aviation industry outlook 'negative'; weak near-term demand: ICRA

MUMBAI: (Mar 27) Ratings agency ICRA on Friday revised its outlook on the Indian aviation industry to negative from stable, citing disruptions in international airspace following escalation of geopolitical tensions in West Asia.

The revision in outlook is also on account of a sharp depreciation of the rupee against the US dollar and an expected increase in jet fuel (ATF) prices, ICRA said.

These factors are likely to significantly increase cost pressures for airlines, even as demand growth faces downside risks, it said.