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Prabhudas Lilladher Report
In Q2, India's domestic market continued to make a swift recovery from the aftermath of second Covid-19 wave (May 2021 operations crashed to 30% of pre-Covid levels).
September 2021 saw the industry's capacity utilisation at 65% of pre-Covid levels with sustained improvement in pax load factors (up from 73 pax per flight in May-21 to 113 in Sep-21).
Although the improving operating and yield environment will enable narrowing of losses sequentially, a 59.8% YoY increase in aviation turbine fuel prices will lead to widening of losses YoY.
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