IndiGo, SpiceJet, Jet Airways face credit rating revisions as costs spiral
Updated : October 24, 2018 07:53 AM IST
Despite being one of the fastest growing domestic aviation markets in the world, local carriers have been facing tough business conditions, especially with surging oil prices and depreciation of the rupee.
As players look to woo more passengers with cheap fares, airlines have not been fully able to increase ticket prices.
Against this backdrop, rating agencies Icra and Crisil have downgraded various loan facilities of the three airlines.
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