In the aftermath of the financial crisis, Indian airline companies are on the way up again and the future is beginning to look very rosy thanks to continual growth. According to experts, 2011 should be an even better year than 2010.
All Indian airlines carried 50 million passengers in 2010, leading to an 18% increase on the previous year. These results are particularly impressive as the situation beforehand was quite bleak. In the previous years, numbers of passengers and revenue were sinking at equally alarming rates. Indian airlines were no exception to the general global rule that airlines were going through a hard time. The reported 8.75% growth for the current fiscal period has certainly brought a smile back to many faces.
The Gulf area is particularly important for Indian airline companies, especially Saudi Arabia. Whereas the national airline company used to have a monopoly in flying to destinations around the Middle East, other competitors such as IndiGo and SpiceJet have entered the fray. Due to the amount of revenue available for flying between India and the Middle East, the competition is expected to get a lot stiffer. India, after all, is just three or four hours away from major Middle Eastern destinations such as Dubai.
The fact that India has experienced massive economical growth over the past few years resulted in a huge boost to the airline industry. As businesses have grown and international contacts have increased, Indians have found the necessity to fly ever more pressing. Business centers such as Bangalore and Mumbai are churning out more air travelers than ever before, which is music to the ears of the airline companies of course.