‘AI’s debt to hit $20 bn, deter bidders’ Airlines in India are likely to post a consolidated loss of $4.1 billion in financial year (FY) 2022, forecasts aviation consultancy CAPA. This sum is similar to the losses for the financial year 2021, taking the total losses for the two years since the pandemic to $8 billion. Airlines may require almost $5 billion in recapitalisation in FY22, out of which $1.1 billion is in the pipeline in the form of IPOs, QIPs and other instruments, says CAPA. After a steep dive in passenger traffic in April and May following a surge in COVID-19 cases, June is likely to see a moderate recovery, followed by acceleration in traffic in the second quarter.