HYDERABAD: Union minister of state for civil aviation Gen. V.K. Singh said that the aviation industry had suffered Rs 28,907 crore losses in three years. He was replying to TPCC chief A. Revanth Reddy during question hour in Parliament.
The aviation industry suffered a loss of Rs 11,658 crore in 2021-22, Rs 12,479 crore in 2020-21 and Rs 4,770 crore in 2019-20, the minister said. Singh said that measures such as the reduction of VAT on aviation turbine fuel used in aeroplanes and the reduction of GST on airport maintenance-related matters from 18 to 5 per cent had been taken to help stem the losses.
He mentioned that additionally, for the construction and expansion of new terminals in the next five years, the Airports Authority of India had decided to spend Rs 98,000 crore. Singh said that the government had approved the Emergency Credit Line Guarantee Scheme to facilitate easy access to loans for airlines.
