Indian aviation industry could incur a staggering loss of $3.3 billion to $3.6 billion in the first quarter of fiscal 2021 due to the coronavirus outbreak, as per a report by CAPA (Centre for Asia Pacific Aviation) India, if flights remain halted until June-end.

In an effort to fight the spreading pandemic of Covid-10, the country has suspended the operations of commercial flights until April 15.

As per the report, CAPA India said airlines are expected to log a loss of around $1.75 billion. The losses of airports and concessionaires could be around $1.50-1.75 billion, while ground handlers are estimated to record a loss of $80-90 million, according to CAPA India.

“The extension of the domestic lockdown until at least 15-Apr-2020 is the right decision by the Government of India. However, it has ensured that aviation will be seriously impacted by Covid-19. The April-June quarter, traditionally one of the stronger quarters of the year for Indian airlines, is increasingly looking like it will be a washout,” says the report.

India is also on a 21-day lock down from March 24 onwards.