The aviation industry has a lot to boast about. Industry experts at Alroz Aviation, one of the best aviation training institutes in India, take immense pride in the fact that aviation is one of the major industries which employs a number of people across the globe. Over the years, the aviation sector has undergone a series of policy changes, which include:
1994: The abolition of the Air Corporations Act culminated Indian Airlines and Air India’s monopoly in operating domestic flights. As a result, a number of private players like Jet Airways, Sahara India Airline and Archana Airways got the licence to operate as Scheduled Private Airlines.
2004: According to the research and development team of Alroz Aviation, this was the first year that witnessed the involvement of private sector in civil aviation. A number of airports were created in Bangalore and Hyderabad by various private parties. Both the Hyderabad airport as well as the Bangalore airport were constructed this year by units of GMR Group and Siemens respectively. However, both the airports were operational after four years.
2006: Under the aegis of Manmohan Singh-led UPA-I Government, there occurred a major change in the model for airport modernisation during this year. This benefitted the units of GMR and GVK Group, providing them Delhi and Mumbai airports on long-term lease.
2008: A new policy for greenfield airports was formulated by the government in 2008, which put an end to the mandatory approval from the Central Government for setting up of any greenfield airport. This proved highly favourable for a number of private players and further led to an increase in the number of new airports. The appointment of the Airports Economic Regulatory Authority was yet another important event in the aviation industry during this year. The authority played the vital role of looking after the capital expenditure incurred and timely investments in airport facilities. It also ensured high quality of the services provided.
2012: An important year in the aviation industry in which the government provided a stake of up to 49 per cent in domestic airlines. As per the consensus of opinion, it was a radical change as majority of the Indian banks were not keen on lending monies to Indian carriers, which were facing heavy losses.
2013: This year was marked by the Government’s emphasis on Flexible Use of Airspace (FUA) by both civil and military users. Alroz Aviation experts reckon it as an essential move which allowed civil as well as military users to share the same airspace, depending on their needs on a real time basis. It was the same year in which Jet Airways announced that it was selling a 24 per cent stake to the Abu Dhabi-based carrier Etihad for a consideration of around Rs 2,050 crore.
Tracing down the history of aviation industry, we can easily figure out what has made it highly regulated and controlled today.