Turnaround for Aviation
Looking at the aviation market for the next 20 years, Boeing has forecasted India to have the highest passenger traffic growth in the world.
TT BUREAU Boeing
projects India’s commercial aviation fleet will grow more than 4.5 times in size over the next 20 years. Over the next 20 years, airlines in India will need 1,450 new airplanes. “India is projected to have the highest passenger traffic growth in the world. Over 60 million passengers will fly within India this year.
Over the next twenty years, the forecast passenger growth is expected to be driven by an underlying economy with long-term growth projections of twice the world average and supported by the continued economic prosperity amongst a growing segment of the large Indian population, higher discretionary incomes, business progress and easier access to airports,” says Dinesh Keskar, Senior Vice President - Sales, Asia Pacific and India, Boeing Commercial Airplanes.
“Three Boeing 787 Dreamliners are ready for Air India to take delivery. These aircraft will join Air India’s fleet with a very attractive interior and a number of technological features that will significantly enhance the passenger flying experience,” he informs.
Keskar also adds that airlines in India are improv- ing their financial performance due to increased yields and improved capacity management. Although slowing gross domestic product growth, fuel prices and a weak rupee could affect profitability and growth. In the first quarter of the present financial year, Jet Airways saw a profit of 24.7 crore, JetLite with 11.7 crore and SpiceJet to a 56.2 crore on the revenue increase compared to last year.
“When you look at the market, despite some of the challenges, India will continue to have one of the strongest, most vibrant aviation markets in the world,” he concludes.