Jaideep Mirchandani: NRI Businessman's Global Impact

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UAE-Based Pilot Training Institutes Romanian
Acquisition to Expand Horizon of Aviation
Education
www.skyone.aero
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Introduction
The recent Paris Air Show buzzed with excitement
as Airbus sealed a groundbreaking deal,
announcing an order for 500 narrow body jets from
IndiGo, Indias very own budget carrier. The air
industry was thriving as Air India Ltd also
embarked on a mission to acquire 540 aircraft
from Boeing and Airbus. These extraordinary
agreements come as no surprise, considering that
India ranks third in the world for domestic air
traffic, showcasing the nations emergence as a
global aviation powerhouse. The surge in air
travel is propelled by an aspirational middle
class, fuelling the demand for flights across the
country. With projections of over 140 million
passengers in FY2024 and an estimated 1.3 billion
passengers annually within the next two decades,
Indias domestic market continues to grow at an
unprecedented pace.
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In fact, in a single month, domestic carriers
transported over 13 million passengers,
solidifying Indias position as the third-largest
domestic market globally. As the industry
thrives, the expansion of Maintenance, Repair,
and Overhaul (MRO) facilities has become a
priority. Positive signs emerged when the Goods
and Services Tax (GST) rate for MRO services was
reduced from 18 to 5 in 2022, easing the
financial burden. Furthermore, the finance
ministrys expansion of the Emergency Credit Line
Guarantee Scheme (ECLGS) alleviated liquidity
stress caused by the pandemic, demonstrating the
governments support for the aviation sector.
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Despite the overall optimism, Indian aviation has
weathered its fair share of challenges. The
recent crisis faced by GoFirst highlights the
formidable obstacles airlines encounter,
including operational expenses, fuel costs, and
intense competition. However, amidst these
challenges, new players like Akasa Air have taken
flight. Backed by the late Rakesh Jhunjhunwala,
the low-cost airline expanded its fleet by
ordering additional Boeing 737-8 aircraft,
signalling confidence in Indias aviation market.
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Thank You
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