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‘Indian aviation may lose Rs 18,000 cr this fiscal, up from Rs 5600 in FY25:’ ICRA – The Times of India

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‘Indian aviation may lose Rs 18,000 cr this fiscal, up from Rs 5600 in FY25:’ ICRA – The Times of India


NEW DELHI: Credit rating agency ICRA has projected a sharp rise in India aviation industry’s losses to Rs 17,000-18,000 crore in FY2026, compared to Rs 5,600 crore in FY2025, due to multiple factors like slowing domestic traffic growth, increase in jet fuel prices and the depreciating rupee. Additionally, 133 aircraft of Indian carriers — representing 15-17% of the total capacity — are grounded for a number of reasons that puts supply side pressure too.Calendar year 2025 is seen as one of the worst years for Indian aviation due to the tragic AI 171 Ahmedabad crash, IndiGo schedule collapse, Delhi ATC software issue and many other events.“The Indian aviation sector is under sustained financial and operational pressure, with growth momentum moderating and industry losses widening…. due to operational disruptions, elevated forex losses, higher cost structures and slowing passenger traffic growth,” ICRA said.Domestic air passenger traffic in December 2025 declined by 3.9% YoY to 143.4 lakh passengers, and fell 5.9% sequentially from November 2025. For the full year, ICRA now expects FY2026 domestic air passenger traffic growth of just 0–3%, reaching 165–170 million, revised downward from earlier estimates of 4–6%. International traffic remains relatively resilient.

‘Worst Is Behind Us’: IndiGo CEO Says Airline Back on Track After Operational Crisis

“Domestic capacity deployment in Dec 2025 declined by 7.3% YoY and 7.6% MoM, with around 91,769 departures, largely due to large-scale operational disruptions at IndiGo, including around 4,500 flight cancellations in early December 2025.”“Aviation turbine fuel (ATF) continues to be a major cost variable. In January 2026, ATF prices were 2.2% higher YoY, but 7.2% lower sequentially. For FY2025, average ATF prices stood at ₹95,181/KL, down 8.0% YoY. Fuel costs account for 30–40% of airlines’ operating expenses, while 35–50% of total operating costs are dollar-denominated, exposing airlines to exchange rate volatility.”“The continued weakening of the rupee against the USD in FY2026 has resulted in significant foreign exchange losses, with further pressure expected in Q3 FY2026. The industry’s interest coverage ratio is projected at 0.7–0.9 times in FY2026, reflecting stressed financial sustainability.”



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More people have adopted the four-day work week – here’s why

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More people have adopted the four-day work week – here’s why


More than 50 organisations collectively employing over 1,400 individuals transitioned to a four-day working week in 2025, according to new figures.

The 4 Day Week Foundation revealed that the total number of employees now benefiting from this model stands at over 6,000 across 253 accredited businesses.

The newly certified employers represent a broad spectrum of industries, including business, consulting, management, charities, technology, retail, housing, engineering, marketing, arts and entertainment, manufacturing, gaming, recruitment, heritage, healthcare, and education.

London saw the highest number of these new accreditations, with Scotland and the North West also showing significant adoption.

Joe Ryle, campaign director for the foundation, said the latest figures show that UK employers no longer have any practical barriers to making the shift.

“These companies are proving that there is nothing stopping organisations in the UK from moving to a four-day week,” he said.

“Across virtually every sector and region, employers are showing that shorter working weeks boost productivity, improve wellbeing and help attract and retain talent – all without cutting pay.

“The question is no longer whether it works, but how quickly others will follow.”

More than 6,000 people now work four days a week across 253 businesses accredited with the 4 Day Week Foundation (Getty Images/iStockphoto)

A total of 53 newly accredited organisations permanently adopted a four-day week with no loss of pay last year, the foundation said.

Researchers in the US found last year that working four days a week can help workers protect their mental health.

A team at Boston College said their landmark study had revealed the shift was associated with a high level of satisfaction on the part of both employers and employees.

More than 100 companies and nearly 2,900 workers in the U.S., U.K. Australia, Canada, and Ireland were involved in the study.

That included an improvement in productivity and growth in revenue, a positive impact on physical and mental health, and less stress and burnout.

A 2024 poll of more than 2,000 full-time U.S. workers found that more than half of respondents reported feeling exhausted from chronic workplace stress within the past year.

The main reason that employees had maintained productivity, according to their assessment, is that companies have decreased or cut activities with questionable or low value, including meetings. Instead, meetings became phone calls and conversations via messaging apps.

Another key factor was that employees would use their third day off for doctor’s appointments and other personal errands that they might otherwise try to cram into a work day.

The study, published Monday in the journal Nature Human Behaviour, builds on previous research that has found similar benefits, and comes on the heels of a recent study that found long working hours may alter brain structure.



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Bank depositors’ role in funding credit growth on decline: RBI data – The Times of India

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Bank depositors’ role in funding credit growth on decline: RBI data – The Times of India


MUMBAI: India’s bank depositor remains the predominant source of credit to the commercial sector, but their relative contribution is steadily declining as credit growth outpaces deposit mobilisation, data for Dec 2025 show.As of Dec 2025, total outstanding credit to the commercial sector (bank and non-bank) rose to Rs 297.9 lakh crore, while bank deposits stood at Rs 249 lakh crore. Deposits were sufficient to fund only about 83% of the total credit outstanding. A year earlier, in Dec 2024, bank deposits amounted to Rs 220.6 lakh crore against total credit of Rs 259.01 lakh crore, covering around 85% of credit demand. The data point to a widening gap between credit expansion and deposit growth in the banking system.

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The trend reveals a structural shift in India’s credit landscape. Banks remain central to financing the commercial sector, but their deposit base is no longer keeping pace with the demand for credit. The growing reliance on NBFCs, bond markets and foreign borrowings reflects both deeper financial markets and mounting pressure on bank balance sheets as credit demand continues to surge.The first nine months of 2025-26 saw a sharp acceleration in credit flow to the commercial sector. While banks continue to anchor the system, the pace of credit creation has increasingly relied on non-bank channels.Non-food bank credit remained the single largest source of incremental funding. Between Dec 2024 and Dec 2025, bank credit expanded by Rs 25.5 lakh crore, accounting for 65.5% of the total increase in commercial sector credit. Outstanding non-food bank credit stood at Rs 202.3 lakh crore at end-Dec 2025, reflecting a year-on-year growth of 14.4%.



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Video: Why Trump’s Reversal on Greenland Still Leaves Europe on Edge

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Video: Why Trump’s Reversal on Greenland Still Leaves Europe on Edge


new video loaded: Why Trump’s Reversal on Greenland Still Leaves Europe on Edge

Andrew Ross Sorkin, editor at large of DealBook, describes how leaders at the World Economic Forum in Davos remain on edge after President Trump, for now, backed down from threats of using tariffs or military force to gain Greenland.

By Andrew Ross Sorkin, Rebecca Suner, Coleman Lowndes and Laura Salaberry

January 22, 2026



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