Mumbai, July 31 - The Federation of Indian Airlines (FIA), a representative body of private carriers, has sought a bailout package to tide over the current financial crisis and threatened that its members may suspend domestic operations from Aug 18.

Addressing a press conference here, FIA secretary general Anil Baijal said that member airlines had accumulated losses worth a whopping $2 billion, and unless the government initiates action to help them overcome the crisis they will not be able to sustain operations any further.

Air India was not part of Friday's discussions.

'We are bleeding. Everybody is bleeding. Giving a helping hand to the airline industry is done all over the world,' said Naresh Goyal, chairman of Jet Airways and a founding member of the federation.

'We may have to suspend operations indefinitely,' added Vijay Mallya, chairman of Kingfisher Airlines, while adding that international operations of member carriers will, however, continue.

Among the various demands from the federation are: Direction to oil retailers to sell aviation fuel cheaper and reduction in airport charges, which they say has ballooned ever since the entry of private players.