The Centre for Asia-Pacific Aviation (Capa) expects India?s airline industry to lose more than $2.5 billion in the next fiscal year if oil prices touch $135 a barrel, its chief executive of South Asia said. ?The industry consultancy expects $2.5 billion loss for the sector in the 2011-2012 fiscal year that ends on March 31,? Kapil Kaul said.
Another report by CAPA-SITA on Thursday said India?s major cities will need additional airports as the number of flyers is set to treble to 450 million by 2020, making it the world?s third largest aviation market. Over the next 10 years, all six metros (Bangalore, Chennai, Delhi, Hyderabad, Kolkata and Mumbai) are expected to have ?provisioned? for a second airport and Mumbai will need to start preparing for a third, said the report. Besides, seven non-metro cities such as Ahmedabad and Pune will also outgrow their existing infrastructure and require new airports, it added.
