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Contents
Background and history of Aviation in India of Low cost carriers aviation administration and Airport infrastructure Airline operating matrix turnarounds in Aviation industry Policy Changes
Rise Civil
Domestic Recent
Suggested
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Upto 1986
The first commercial flight in India was made on Feb 18,1911 Birth of Air India International Ltd There were 8 companies operating within and outside the country at the time of independence Nationalisation of airlines via the Air Corporations Act 1953, which gave birth to Indian Airlines and Air India
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Duopoly of Jet and Sahara as private carriers Entry of Air deccan and concept of low cost carriers (LCC) Entry of new LCC players
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origin of LCC : US Airline deregulation Act 1978 in Indian context : Air Deccan in 2003 and later subsequent players like spicejet, Indigo, Go Air, jet airways, kingfisher airlines following table shows some of the LCC strategies
Entry
The
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Ministry of Civil Aviation of the Government of India regulates aviation in India. General of Civil Aviation investigates aviation accidents and incidents. Authority of India manages most of the airports in India. The AAI manages and operates 126 airports and 329 airstrips including 16 international airports,89 domestic airports and 26 civil enclaves.
Directorate
Airports
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Rising Fuel(ATF) costs Rupee depreciation High interest costs on increased debts High Airport (Aeronautical) charges Poor infrastructure Pax growth moderation Diminishing margins
Revenue
v v
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Rising costs
Fuel
Cost
The impact of rising fuel cost can be seen from the following exhibit which is fuel cost as a % of Gross sale for domestic airlines.
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Rising costs
ATF
Rupee
Depreciation
Moderating revenues
Domestic
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Reported
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Falling EBITDAR
If
we take example of a major domestic carrier Jet Airways the trend in EBITDAR is as follows
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ATF Import :
Difficulties in importing ,storing and transporting ATF Stress on working capital of carriers.
FDI in Aviation
Factors
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FDI in Aviation
Factors
sector
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airline stock have corrected significantly over last two years ,fresh equity at current valuations will dilute promoters stake following graph shows the erosion in market capitalization of major domestic airlines (Rs. crs)
The
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post FDI
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Other proposals
Lifting
Financial
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Thank You