Amid the IndiGo crisis, former Air Asia CFO Vijay Gopalan has explained why the airline business is tough in India. In recent history, he said, Jet Airways and Kingfisher have folded. Even SpiceJet was in deep trouble. "Structurally, there is something about Indian aviation which is not very profitable," Gopalan said in a video explainer. Advertisement

"50% of my cost is governed by air turbine fuel, which is the fuel cost. The taxes are not governed by GST. It is governed by the state government's taxes. And in some states, the taxes on the fuel are as high as 30%. It's not going to be structurally profitable. We need to rationalise the cost," the former CFO said.

According to him, the dollar is another major problem. "About 75% of my costs are costs that I spend in US dollars. Meanin

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