Indian Civil Aviation sector is all set to transform the business as it thanks to the efforts of government to dismantle state control over airports and operators and the airline operators trying desperately to serve the growing demand from air passengers.
2017 was a record breaking year for aviation industry of India as the Mumbai Airport set a new record of handling 969 takeoffs and landings in just 24 hours in November with single-runway operation. Mumbai Airport has two runways which criss-cross each other due to which only one runway can be used at a time. Thus Mumbai Airport is put in the single runway airport category.
India’s fastest growing low-cost carrier IndiGo announced that it operates 1000 daily flights which is another major achievement.
“A thousand daily flights is a milestone that no airline in India has ever achieved before,” said Aditya Ghosh, President and Whole Time Director, IndiGo. “As Indians we are proud to create this new record. While 1,000 is just a number, for us each flight represents an opportunity for millions to chase their dreams.”
Likewise, another budget airline SpiceJet became the world’s best-performing airline stock last year. In late June, its stock price had soared by almost 125 per cent during the first six months of 2017, and it emerged as ‘the best performer’ on the Bloomberg Intelligence Index.
Prime Minister Narendra Modi said recently that the policy changes introduced in the aviation sector by his government had resulted in ordinary persons also enjoying the benefits of air travel.
Ministry of State for Civil Aviation reported that the 100 new airports will be constructed in India over the next 15 years doubling the India’s total number of airports. Total investments in the new airports will add up to a whopping Rs4 trillion.
The ministry also declared that the Indian airlines would procure nearly over 400 aircraft over the next five years to meet the highly escalating demand from passengers.
As per Directorate General of Civil Aviation (DGCA), India’s domestic passenger traffic topped 100 million mark in 2017, reaching 106 million in the January-November period which is 17.27 per cent jump over the corresponding figures for previous year.
These dramatic changes and improvements from Indian Civil Aviation Sector is set to transform the business over the coming years making it one of the fastest-growing markets for the high-flying industry.
