The state-run air carrier Air India was to experience a change in its business linear policies, as the Indian government had considered the Initial Public Offering of shares. The newly appointed Aviation Minister took the decision, to bring back Air India on track. Praful Patel, the Civil Aviation Minister of the state then, added that the offering would largely depend on the status of the equity markets. Praful Patel’s contributions towards the Aviation sector have been brilliant in the past. Probably, it was under his leadership that the India’s Aviation sector witnessed the construction of more than 60 Greenfield airports. He even introduced the system of competitive airfare, allowing a common man to realize his dreams, of flying high in the air. Least to say, it was under his guidance that led to the liberalization of the Indian skies.
Per se the IPO for Air India, the Congress party-led government was noticed rolling out reforms, including privatization and hiking of foreign investment caps, to provide leverage to the economy and entice investors, after it was returned to power with a decisive mandate in the federal elections.
However, the good news is that the Aviation sector is seeing rampant changes in its infrastructure recently. The Terminal 2 at the Chhatrapati Shivaji International Airport is a benchmark for the upcoming Indian airports. The NCP Leader had laid a strong foundation, to ensure that India comes at par, with the other airports in the world. Even the international air traffic has seen a remarkable improvement. For instance, there are more than 120 to and from India to UK. In one of his recent speeches, Patel also mentioned that the nation would no more follow the policy of privatization of the airports. Probably, a refreshing change for all those kept complaining about the linear business policies of India’s Aviation Sector.
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