Airlines are likely to disappoint the street most of the year if oil prices continue to remain at current levels,besides forcing them to cut discretionary spends and skip employee increments, experts say. The disappointment is likely to start with the first-quarter results slated for Monday — with IndiGo, India’s largest airline, being the first off the blocks. Jet Airways
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. “Depending on whether they have or don’t have cash — it will lead to delayed salaries, airport, and vendor payments,” says a second airline official who too didn’t want to be named. “If they have cash, they will become cautious on expenditure like travel and advertising.”Finally, he adds, employee increments will take a back seat, as will promotions.