New Delhi (IANS) India's passenger carriers are suffering from a "double whammy" of a steep rise in fuel costs and the decline in the Indian rupees value, global airlines association IATA said on Tuesday.
According to the International Air Transport Association (IATA), the rise in fuel costs was particularly acute for Indian carriers as it makes up 34 per cent of operating costs well above the global average of 24 per cent.
"While it is easy to find Indian passengers who want to fly, it's very difficult for airlines to make money in this market," said Alexandre de Juniac, IATA's Director General and CEO at the International Aviation Summit being held here.
"India's social and economic development needs airlines to be able to profitably accommodate growing demand. We must address infrastructure constraints that limit growth and government policies that deviate from global standards and drive up the cost of connectivity."
IATA's growth forecast for India indicates a trebling of passenger demand by 2037 when some 500 million people are expected to fly to, from or within India.