The 20 biggest publicly listed airlines have reportedly lost about $53 billion in market capitalisation since the war began on Feb 28.
CNBC-TV18's Sunanda Jayaseelan reports, in an exclusive, that low-cost carrier Go Air is reportedly in talks with three different global airlines for a possible sale of stake.
Global airlines called on Sunday for a deal brokered by a United Nations agency to avoid an impasse between China and the European Union over jet pollution spilling into a trade war.
Global airlines warned the European Union on Sunday of the risks of a possible trade spat over "illegal" plans to charge the industry for emissions, saying they echoed environmental failures of the past.