Domestic carriers, which are grappling with high jet fuel cost and falling rupee coupled with cut-throat competition, are estimated to require a massive capital infusion of around Rs 350 billion over the next 3-4 years, rating agency Icra said Thursday.
These funds would help bring down the high debt-levels in the airline industry, Icra said in a note.
Significantly, all the three listed airlines, Jet Airways, InterGlobe Aviation-run IndiGo and SpiceJet, are currently in red.