Lots of pain, little gain

Big opportunities but even bigger losses for India’s airlines

Don’t hold your breath. India’s aviation authorities have made a habit over the years of throwing out nuggets of hope to the country’s financially battered carriers that changes are in the pipeline.

Allowing foreign direct investment by offshore carriers in local airlines was a perfect example. It took years of discussion and studies by endless government committees to reach a conclusion and gain approval… and even then the first venture – the investment by Abu Dhabi’s Etihad Airways into Jet Airways – took more than a year to get the green light.