Saturday, October 22, 2016

Realizing India's Aviation Potential

The International Air Transport Association (IATA) called for a renewed look at the results of Indian public-private partnership in airport privatization, a reduction in taxation and for India to join international efforts on sustainability for air transport. These will be key enablers of a vitally important industry to India to be an even bigger catalyst for social and economic development.
“Air transport contributes enormous value to India, stimulating growth and development with increasingly accessible air connectivity. India’s air transport industry has been through tough times. While many Indian airlines are now posting profits, the sector is still in loss territory with many challenges. These include a massive debt burden, onerous regulations, expensive airport infrastructure and high taxes. Addressing these will bring huge social and economic benefits to India,” said Alexandre de Juniac, IATA’s Director General and CEO, who is in India for a visit.
India’s air transport sector already supports 8 million jobs and contributes $72 billion in GDP. In IATA’s recently released 20-year air passenger forecast, India will displace the UK to be the third largest aviation market with 278 million passengers in 2026. In 2035, the horizon of IATA’s just-published 20-Year Passenger Forecast, IATA expects the Indian market to serve 442 million passengers. “Realizing that growth means that we will need to accommodate the potential of 322 million new passengers in just two decades. That will be a real challenge. Without significant change, the economic and social development potential gains that come with a healthy and growing air transport sector are put at risk,” said de Juniac.
21/10/16 IATA

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