Stock market crash hits India's airline industry

business-times.asia1.com.sg :

The collapse of the Indian stock market has taken a toll on the country's civil aviation sector. Flying has become much cheaper with the arrival of low-cost airlines, price cuts and stiff competition. But strapped of equity, most of these operators are in the red. Crumbling stock prices have come into the picture, making it hard for airlines to raise money to fund expansion.

The stock market crash has compounded problems in a sector that is suffering from over-capacity and slim margins. Having committed to buy aircraft, most operators are not in a position to pull back. Investment bankers have sounded warning bells.

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