Bust! Boom! Bust?
The aviation sector is facing headwinds as some airlines grapple to cut costs and others struggle to stay afloat.
The first week of September brought into the open the growing chasm in the aviation sector. The government, along with the Airports Authority of India (AAI) and global industry body IATA, organised a mega event in New Delhi's Taj Palace Hotel to celebrate 50 consecutive months of double digit passenger traffic growth. The participants, led by Aviation Minister Suresh Prabhu, painted a rosy picture of the sector, including India's potential to become the world's third largest aviation market, flying over a billion passengers a year, and plans to build 100 new airports at an investment of $60 billion in the next 10 15 years.
A day before this, global consultancy CAPA came out with a
