Friday, June 16, 2017

Lenient Policies can propel the Private Aviation Sector

The Indian Civil Aviation sector is going through a trans formative phase with India being one of the fastest growing aviation markets in the world. Given the context, Captain Ammeet K Agarwal & Captain Asif Punathil discuss the future of the private aviation industry.

India’s aviation sector is on a trajectory of growth with the country being the world’s fastest-growing aviation market registering a growth of over 20.3% last year. By the year 2020, India is likely to be the third largest aviation market according to a Ficci-KPMG report. With a market size of approx. USD 16 billion, India currently stands as the ninth-civil aviation market in the world and by FY 2017, the domestic air traffic is predicted to cross 100 million passengers making it the one of the fastest growing aviation markets in the world despite the global economic slowdown. In order to foster growth through Public Private Partnership models, the private sector has been encouraged to become involved in the construction of airports. State support is also meted out as financing, concessional land allotment, tax holidays and other incentives. It is anticipated that the implementation of these new policies will dramatically change the perceived image of private aviation as the exclusive prerogative of billionaires and make it more accessible to corporate travellers. The circumstances remaining conducive, the private jet market in India is also expected to thrive.

Commenting on the prevailing scenario for Private Aviation in India and the rampant claims that the market potential still remains underutilized, Captain Ammeet K Agarwal, President & CEO, Supreme Aviation International says, “I understand you categorize Private as both Private and N.S.O.P. (as well known in India) together, unlike the DGCA or the Govt of India! Our company Supreme Aviation is doing very well, since we operate a commuter airline which is a different module if you compare it with Private. However, the country has huge potential which is still not optimally taken advantage of.”
16/06/17 Voyegers World