India: Surging passenger numbers, policy promises dot turbulent skies in 2018

India's aviation space recorded high passenger growth, battled oil shocks as well as survived mid-air scares in 2018. In the new year, the govt would focus on making flying "as good as possible", according to Civil Aviation minister Suresh Prabhu. From spiralling costs and cut-throat competition pushing airlines into the red to govt initiatives aimed at boosting the fast-growing sector, a mixed baggage greeted the stakeholders this year. India remained the world's fastest growing domestic aviation market with 51 straight months of doubled-digit traffic growth but the woes of passengers as well as carriers manifested in myriad forms. Despite high passenger growth, domestic airlines remained financially vulnerable as surge in oil prices, rupee depreciation and inability to raise fares amid intense competition crimped their earnings. <br/>