Advertisement

Business

Updated on: Thursday, January 13, 2022, 08:12 PM IST

Omicron could push air traffic recovery into fiscal 2024: Crisil

The agency said a material impact on the credit quality of airport operators, however, is unlikely.

"The high infection rate of Omicron has resulted in several state governments and local authorities, such as Delhi and Mumbai, announcing restrictions on movement," said Manish Gupta, Senior Director, Crisil Ratings. |

Advertisement

The ratings agency Crisil stated that the ongoing third pandemic wave led by Omicron could pose fresh turbulence for air traffic, pushing its full recovery into fiscal 2024.

The agency said a material impact on the credit quality of airport operators, however, is unlikely as the dip in revenue is expected to be limited by a likely strong rebound.

An analysis of the top four private airports -- Delhi, Mumbai, Bengaluru and Hyderabad -- which accounted for 90 per cent of air passenger traffic handled by private airports and 50 per cent of all passenger traffic last fiscal, indicates as much, Crisil said.

"The high infection rate of Omicron has resulted in several state governments and local authorities, such as Delhi and Mumbai, announcing restrictions on movement," said Manish Gupta, Senior Director, Crisil Ratings.

(With inputs from IANS)

(To receive our E-paper on whatsapp daily, please click here. We permit sharing of the paper's PDF on WhatsApp and other social media platforms.)

Published on: Thursday, January 13, 2022, 08:12 PM IST
Advertisement