Aviation consultancy firm CAPA raised a red flag on Sunday, by warning that most airlines in the world will be bankrupt by the end of May-2020, with growing coronavirus cases. In a statement, the firm said, that as travel restrictions by multiple governments sweep through our world, many airlines have probably already been driven into technical bankruptcy. It added that cash reserves are running down quickly as fleets are grounded and forward bookings are far outweighed by cancellations. The aviation consultancy has urged government bodies across the world to 'cooperate' and work for the upliftment of the stressed sector. In India, InterGlobe Aviation, the parent of the country's largest airline IndiGo, saw its shares slump 14.08% to hit a 52-week low of Rs 875 on Friday. SpiceJet dropped 9.99% to hit Rs 43.70.
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