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INDIAN AVIATION TO LOSE US$10 MLN DUE TO PAK AIRSPACE CLOSURE.
NEW DELHI, Jan 1 Asia Pulse - India's aviation sector would lose a total of about Rs 500 million (US$10.4 million) per annum due to the ending of air links with Pakistan, though the neighbouring country would stand to lose about 5 times more.
However, "this is a small amount to pay for maintaining our national honour and sovereignty, besides our commitment to fight global terrorism", Civil Aviation Minister Shahnawaz Hussain told reporters here after launching Air India's e-marketing facility through the airline website.
While Air India would alone suffer a loss of Rs 400 million annually with Pakistan closing down its airspace, Indian Airlines would lose about Rs 34 million a week and Airports Authority of India (AAI) Rs 50 million per annum, Hussain said.
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Source: HighBeam Research, INDIAN AVIATION TO LOSE US$10 MLN DUE TO PAK AIRSPACE CLOSURE.