Etihad Airways CEO James Hogan, speaking at the CAPA Australia Pacific Aviation Summit, stated (07-Aug-2013) the Indian market is one of opportunity and is “fundamentally key for our development” as it is young and growing with market opportunities, but still faces problems of high levels of regulation and airport infrastructure. Going into India was an “important decision” for the carrier. The carrier is acquiring a 24% stake in Jet Airways, subject to regulatory approval. Mr Hogan is hopeful that the deal will be completed “in the next seven or eight days” following final meetings.
Etihad Airways sees India as fundamental for development, expects Jet deal approval in eight days
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Indian aviation is, after many years of promise, seemingly starting to deliver on its potential. It is currently the fastest-growing major aviation market in the world. With strong GDP growth of around 7.5% India is surging ahead of China in the economic growth stakes.
Meanwhile, the decline in oil prices has supported lower fares, driving year-on-year domestic traffic growth in excess of 20%. Its airlines are even starting to make money.
LCC, IndiGo, established less than a decade ago, has become the dominant player in the domestic industry. At the end of the Indian financial year, on 31-Mar-2016, IndiGo was the largest airline in the domestic market with a passenger share of 38.4%, followed by Jet Airways at 20.2%. LCCs accounted for 61.7% of domestic traffic.
Iran CAPA Aviation Summit – hope turns to frustration, but optimism remains as growth abounds
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While it was acknowledged that progress on major deals was not going to happen overnight, the hope was that as layers of sanctions came down, Iran would be embraced by the rest of the world. In return, Iran was expected to open itself up progressively to foreign trade and investment, and to travel.
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