Not just in India, but globally the airline companies are under tremendous pressure. According to estimates put out by ICRA, the domestic aviation sector will require Rs.35,000 crore by FY23 across the five major players in the segment including Indigo, Spice Jet, Go Air, Vistaara and Air Asia. This excludes Air India which anyways comes directly under the government. The aviation industry debt (excluding Air India) is expected to touch Rs.46,500 crore by March 2022. However, the aviation industry is expected to register negative growth of (-44%). In the midst of the COVID-19 lockdown, the aviation companies are incurring a loss of Rs.90 crore daily. The profitability of the aviation industry is likely to be impacted by the lockdown as fixed costs are 40% of the cost structure. This would be the kind of easy funding support the aviation companies will require to pull themselves out of the mess.