Airlines are some of the highest taxpayers themselves. They are grounded indefinitely. Zero revenues for a perishable product. Told not to take bookings indefinitely. Told refund in cash, not in credit. Unlike other countries, no govt support as yet (though still hoped for) 1/2 https://twitter.com/virsanghvi/status/1252481181603426305
In the US, government is providing direct payroll support for 6 months, having calculated that the cost of unemployment checks and loss of payroll taxes over time would be higher than helping airlines. Airlines now have the ability to refund on cash. No such luck in India as yet
The cost to the Indian economy and to the Indian consumer would be huge if airlines collapse and only one or two are left. And that is a growing possibility as the indefinite groundings continue. The credit refund offer is a way to stay alive for the greater good. @virsanghvi
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