Air India has requested financial relief from the Indian government amounting to $600 million, anticipating losses due to Pakistan's airspace closure, imposed in response to a recent attack in Kashmir. The airline projected an annual loss of over $591 million for each year the ban is in effect, leading to additional fuel and operational costs. As Air India attempts to recover from past management issues and strive for growth, the government has been asked to consider a temporary subsidy model to support its financial stability during this challenging period.
Air India anticipates $600m in extra costs due to Pakistan's airspace ban, requesting the Indian government for financial relief to mitigate expected losses.
Air India has estimated a loss of more than $591 million for each year the ban lasts, demonstrating the severe economic impact on its operations.
The airline faces increased fuel costs and longer travel times because of the airspace closure, significantly affecting its turnaround plans and financial stability.
The subsidy model requested by Air India is intended to be a temporary measure, to be removed once the airspace situation returns to normal.
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