India’s airline industry recorded a cumulative loss of Rs 5,289 crore in the 2024–25 financial year, underscoring the persistent financial stress facing the sector. Despite steady passenger demand and expanded capacity, rising operating costs and margin pressures weighed heavily on profitability. Higher fuel expenses, currency volatility, and competitive pricing continued to erode earnings. The losses reflect structural challenges rather than a short-term downturn, raising concerns about balance-sheet sustainability.