When Prime minister narendra modi-led nDa came to power in 2014, domestic aviation industry was reeling under severe pressure following the grounding of Kingfisher airlines. Huge losses, piling debts, employee protests and promoter Vijay mallya fleeing to the united Kingdom made all the wrong headlines for the sector.
Against the backdrop, another private airline - Spicejet - was facing turbulence as its new promoter - media baron Kalanidhi maran - realised why many billionaires avoid owning an airline. in less than a year since the new government came into power, SpiceJet was sold back to ajay Singh.
Fast forward to 2024 and the sector is yet out of the woods. in the last 5 years, two major airlines – Jet airways and Go First - succumbed to financial woes while many smaller players vanished in the covid 19 pandemic.
The big change for the industry, however, has been the privatisation of air India and the emergence of two strong players. Having made combined orders of more than 1100 planes, the Tata Group-led air India and interglobe aviation (indiGo) have set ambitions to define the world’s fastest-growing aviation market.
10% CAGR in 10 years
India’s aviation industry has witnessed a compounded annual growth rate (CaGR) of 10% in domestic passenger traffic in the last 10 years i.e. between FY2014 and FY2024. This growth was supported by a growing economy, improvement in infrastructure and connectivity to regional centres. The number of operational airports doubled from 74 in 2014 to 148 in april 2023.
Esta historia es de la edición May 26, 2024 de The Morning Standard.
Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 8500 revistas y periódicos.
Ya eres suscriptor ? Conectar
Esta historia es de la edición May 26, 2024 de The Morning Standard.
Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 8500 revistas y periódicos.
Ya eres suscriptor? Conectar
Sub Weghorst snatches winner for Netherlands
SUBSTITUTE Wout Weghorst snatched a late winner for the Netherlands in a 2-1 victory over Poland on Sunday in their opening Euro 2024 clash.
ENGLAND LIVE TO FIGHT ANOTHER DAY
After a roller-coaster group stage, Buttler & Co qualify for Super 8s, but will have their task cut out from here
Why opening Family Investment Funds in GIFT City makes sense
FIFs in GIFT City have a wide range of permissible investments and enjoy tax benefits, including a tax holiday on business income for up to 10 years
Swiss conference agrees territorial integrity of Kyiv must be respected
Ukrainian President Volodymyr Zelenskyy hailed the first steps toward peace at the meeting
Biden challenged to cognitive test
DONALD Trump on Saturday night suggested President Joe Biden \"should have to take a cognitive test,\" only to confuse who administered the test to him in the next sentence.
Plan to relocate tigresses to Palamu reserve
TO retain the four tigers which have migrated to Palamu Tiger Reserve (PTR), efforts are underway to relocate at least two tigresses and one tiger from another reserve.
Houses razed as Yadav govt targets beef mafia'
AHEAD of the Eid-Ul-Adha (festival of sacrifice), the Mohan Yadav-led BJP government is cracking down against the \"beef\" mafia in Madhya Pradesh.
Jammu forests new terror hubs
65 people, including 36 security personnel, killed in Jammu region in over 30 months.
Railways forms panel to look into speed limit violations by train drivers
CONCERNED over loco pilots (train drivers) violating speed limits, the Railway Board has constituted a committee to look into such instances.
It's for parties to decide new Speaker, I have no role in it, says Om Birla
WHILE all eyes are on the crucial election to select the new Lok Sabha Speaker on June 26, outgoing Lok Sabha Speaker Om Birla on Sunday said he has no role in the decision and it was for the political parties to decide on the new Speaker and the Deputy Speaker.