New Delhi: It's a blue sky scenario for airline industry – jet fuel prices are at its lowest, air passenger traffic is growing at a healthy clip and there's a business-friendly government at the Centre. But it would still need a lot of help in various forms in the coming Budget to wipe out its huge losses.
Airlines in India are set to post losses of $1 billion in the current fiscal, according to airline consultancy firm Centre for Asia Pacific Aviation (CAPA).
That is pretty disturbing for India's still fledgling industry. The only positive news is that the global aviation advisory firm had revised its projection downward from the earlier $1.4 billion loss.
Phee Teik Yeoh, CEO of the recently-launched full service carrier Vistara, is immensely confident that airlines are about to enter a better phase with "the current government's pro-investment, pro-business, pro-common man leanings".
"In keeping with the current government's pro-investment, pro-business, pro-common man leanings, everyone in the country has a lot of expectation from the forthcoming budget. There is a hope that the budget will be an extension of Narendra Modi's vision of enabling the people and making India a global tourism and investment destination with specifics that will steer the country on a growth trajectory," said the Vistara chief.
His optimism stems from the recent slashing of aviation turbine fuel (ATF) prices that has been a big relief for the industry.
21/02/15 Praveena Sharma/Daily News & Analysis
Airlines in India are set to post losses of $1 billion in the current fiscal, according to airline consultancy firm Centre for Asia Pacific Aviation (CAPA).
That is pretty disturbing for India's still fledgling industry. The only positive news is that the global aviation advisory firm had revised its projection downward from the earlier $1.4 billion loss.
Phee Teik Yeoh, CEO of the recently-launched full service carrier Vistara, is immensely confident that airlines are about to enter a better phase with "the current government's pro-investment, pro-business, pro-common man leanings".
"In keeping with the current government's pro-investment, pro-business, pro-common man leanings, everyone in the country has a lot of expectation from the forthcoming budget. There is a hope that the budget will be an extension of Narendra Modi's vision of enabling the people and making India a global tourism and investment destination with specifics that will steer the country on a growth trajectory," said the Vistara chief.
His optimism stems from the recent slashing of aviation turbine fuel (ATF) prices that has been a big relief for the industry.
21/02/15 Praveena Sharma/Daily News & Analysis
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