Local aviation gains altitude

New Delhi: Growing air traffic has helped the domestic aviation industry turn around despite being hit by rising fuel prices, natural calamities and earnings loss.
Along with China and Latin America, India helped push global aviation growth by 16.5 per cent in April.
According to a recent report by the International Air Transport Association (IATA), the market grew despite high oil prices, the volcanic eruptions in Iceland and the tsunami in Japan.
The report said expansion in India had been the strongest, growing three-fold in size over the last five years. But even after such a huge growth, the profits of the airlines were squeezed by a series of crises in the first four months of this year, the IATA said.
“Their impact on demand will continue to ease as we move into the second half (of this year),” said IATA chief Giovanni Bisignani.
First, pilots of state-owned Air India went on a ten-day strike that cost the national carrier around Rs 160 crore.
05/06/11 The Telegraph

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Categories: Indian Aviation- In General Jun 2011