New Delhi: India's civil aviation industry faced turbulent weather in 2014 even as two new airlines with foreign collaborators joined the five scheduled operators to trigger a price war that squeezed margins further, with falling fuel costs giving some respite in later months.
The Tatas-promoted AirAsia, in collaboration with the Malaysian budget carrier and Delhi-based entrepreneur Arun Bhatia's Telstra TradePlace, took wings in June as a regional carrier, while Vistara, again a Tatas venture with Singapore Airlines, secured air operator permit.
This apart, AirCosta, led by Andhra Pradesh-based industrialist L.P Bhaskar Rao, saw its first full-year operation.
But these new entrants apart, the aviation industry was saddled with high interest cost in 2014, which stretched the bottom lines further, with high fuel cost adding to its woes for the bulk of the year save from mid-November when the global crude prices started to plummet.
19/12/14 Rohit Vaid/Business Today
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The Tatas-promoted AirAsia, in collaboration with the Malaysian budget carrier and Delhi-based entrepreneur Arun Bhatia's Telstra TradePlace, took wings in June as a regional carrier, while Vistara, again a Tatas venture with Singapore Airlines, secured air operator permit.
This apart, AirCosta, led by Andhra Pradesh-based industrialist L.P Bhaskar Rao, saw its first full-year operation.
But these new entrants apart, the aviation industry was saddled with high interest cost in 2014, which stretched the bottom lines further, with high fuel cost adding to its woes for the bulk of the year save from mid-November when the global crude prices started to plummet.
19/12/14 Rohit Vaid/Business Today
