Not that bad in India? 55-65% loads sounds good then? All Indian carriers are losing money domestically. By contrast, most of the airlines in the US are showing 82-85% consolidated LF for the past 2-3 months. I would say the US is in much better shape because they so aggressively took down capacity in the first place. India has a long way to go until things get better.
You have to look at the numbers airlines are putting out. Sure Y-O-Y traffic is down, but loads are still high since capacity was so swiftly removed from the marketplace. What they are indeed correct on back west is that are down yields. But with yields being down 10% on ASMs, and costs down 13% ASM, it's not as gloomy as ATA and IATA want the employees to believe.
Back to India, AI is state-run. As long as the conventional public allows their taxes to spent on a money-losing operation, the airline will continue to grow and buy every current production plane under the sun, A380 included. But the day the public wakes up and says NO WAY with their tax-dollars (not likely to happen anytime in the next 5 yrs as it wasn't even a talking point during the present election cycle), A/I will be forced to succeed on its own.