The company operated chartered flights from London Gatwick and Manchester airports to Goa between November and March and its closure will adversely impact local tourism.
Foreign tourists are postponing their India holiday and there have been some cancellations as well, with trips to the North-East seeing the most adverse impact.
Estimates of decline in arrivals vary from 30-50 per cent. Rouble fell to 80 against the dollar on Tuesday, but settled around 72 against the dollar its steepest fall in sixteen years.
Tourist arrival growth down to 1.9% over poor marketing and terror threats. Airlines, too, have been forced to reroute following airspace closure. UK and Australia advised their citizens from travelling to Srinagar following the Pulwama attack.
Chartered flights may increase 34% from last year as more Russian tourists come calling.
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