Next Steps for Indian Aviation - Developing a Common Vision

Under the leadership of Minister Praful Patel, international flight frequencies to India have tripled to nearly 2,300 per week. India is more connected than ever to our globalized world, bringing enormous economic benefits. This has challenged all those involved in Indias aviation industry to improve competitiveness. In recent years, there have been some great improvements. But there is still much more to be done. Its time for a comprehensive approach with a common vision by all involved, said Giovanni Bisignani, IATAs Director General and CEO. Bisignani made his remarks in an industry dialogue hosted by the Confederation of Indian Industry in New Delhi.
Bisignani notes the tremendous potential for Indian aviation which currently a market of 42 million annual passengers domestically and a further 34 million internationally. If Indians flew as much as Americans, it would be a market of over 4 billion passengers. With the spending power of Indians set to triple over the next two years, the potential for growth is incredible, said Bisignani.
On the back of IATAs upgraded global forecast for a profit of $8.9 billion in 2010, IATA noted that while some of Indias carriers are now reporting profits, the Indian sector as a whole is still expected to post a loss of $400 million. Moreover, it is carrying a debt burden of $13 billion. In a market as rich in potential as India, the precarious financial situation indicates that structural weaknesses must be dealt with, said Bisignani.
24/09/10 ATC Network

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Categories: airports Sep 2010, Indian Aviation- In General Sep 2010