Time is Money, alter the Indian Aviation Sector
The Indian aviation industry grew at a headlong alacrity during the last decade. Driven by the liberalization and privatization policies, India has been very aggressive in embracing technology since 2000. The industry experienced the introduction of giant private air carriers and a sweeping increase in the number of passengers. However, mounting fuel prices, economic slowdown, infrastructural limitations, increasing cost of operations, MOCA requirements/regulations, need for qualified Cockpit Crew and slashed corporate travel budgets over the last three years has forced all Indian airlines to rethink their business model.
India's aviation industry is in the clasp of a peculiar trend where Low Cost Carriers (LLCs) like Indigo and SpiceJet are coming up with optimism to tap the untapped middle class market in India. If the trend gains the right foothold, it might lead to a complete renovation of the aviation sector while attracting thousands of people to travel by air. The industry is booming with many new airlines being launched. LCCs are thriving thus we see more of them being launched. Recently, AirAsia made an interesting announcement of offering "very low" fares. India is a country that can take one or two more carriers that follows this business model. Full fare carriers will find it tricky and unless they follow a disciplined business model, there could be more losses.
Responding to the present aviation needs, Titan Aviation operates in the niche area of crew support and offers a wide array of services, including aircraft management, chartering, sales, leasing, and aviation human resources. Built on a strong business ethos of trust, value and service, the organization strives to stand out for its responsiveness and transparent business practices, distinctively offering highly skilled and professional service at a very competitive cost. Foreseeing the demand for Charters, we firmly believe that “Time is Money” concept is a great driver for increasing demand of charters. More charter demand leads to higher utilization by third parties and the owners then will eventually have to buy an aircraft or helicopter for their use. This will pose issues to our congested infrastructure at airports, but is inevitable.
The current business model of Titan Aviation does not involve too much of technology interface; however, we are changing with the times and intend to offer our charter clients and aircraft owners with real time information on empty leg availabilities and their aircraft movements and lot more. Our integration of technology to limit revenue loss and increasing yield are coming of age. We started late, but with the resources available in India, we could be at the top soon. Our team is enthusiastic about the swift growth in Indian aviation sector and we envision offering exclusive services to clients, expanding geographical areas to leverage on the economics of scale, and stay tuned to the trends in our industry and embracing the same. (As told to Pankaj Kundwani)