Rising crude oil prices are worrying India's aviation CEOs. Hyderabad played host to the Global Aviation Summit titled "Wings India 2022".
A variety of topics were discussed in the civil aviation sector and the most important among them was the sharp rise in oil prices, which is hurting the aviation sector where 35 to 40 percent of the cost is spent on fuel.
While the sector is worried about the oil prices on one hand, but the sector is equally optimistic about the strong revival in demand in the civil aviation sector.
The most excited player in the room was definitely Akasa Air as it is getting ready for the launch of its operations in the summer of 2022. The airline aims to have a fleet of 18 aircraft in its first year.
2022 is going to be a year not just about the newcomers, but also about the existing players such as the airlines under the Tata umbrella Vistara, Air India Express, Air India and AirAsia India their restructuring themselves.
Airlines, whether new or old were unanimous in their view that fares need to be realistic, and the sector should move away from the irrational competition.
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First Published: Mar 25, 2022 8:34 PM IST
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