Ending a long-standing hegemony of existing airlines, the government recently cleared proposals for several airlines to be launched in the country.
Ending a long-standing hegemony of existing airlines, the government recently cleared proposals for several airlines to be launched in the country.
Of this, three (Air One, Premier Air, Zexus Air) are applying for a pan-India licence while three others (Turbo Megha, Air Carnival and Zav Airways) intend to launch regional airlines.
The move that will launch a remarkable revolution in Indian skies will likely result in falling airfare resulting from higher competition.
Currently, IndiGo, Air India, Jet Airways , SpiceJet and GoAir are the national players in the aviation industry while the licence of Kingfisher Airlines was suspended in 2012 after it defaulted on its payment.
The Indian subsidiary of Malaysia's AirAsia also launched operations recently while a joint venture between Tata and Singapore Airlines is expected to launch shortly.
More competition should, however, should further stress the finances of the existing carriers, who cumulatively posted losses of about Rs 9,000 crore in FY14, with only one company (IndiGo) remaining consistently profitable.
Other than this, the government also plans to increase its focus on creating more airports, especially in smaller cities.
In the Budget, Finance Minister Arun Jaitley envisaged creating 50 low-cost airports in small cities either via the Airports Authority of India or through the private-public-partnership mode.
The FM also announced plans to introduce e-visas, or visas on arrival, for foreign tourists at nine major airports – details of which would be announced in six months.
Jaitley also set aside Rs 6,500 crore as equity infusion for cash-strapped Air India. The state-run carrier ran up an operating loss of Rs 2,120 crore last year, 40 percent lower than the year before.
The government has ruled out any plans to privatize Air India and said a turnaround plan implemented for the carrier in 2012 is working.
Jet Airways stock price
On July 23, 2014, Jet Airways closed at Rs 264.95, up Rs 8.90, or 3.48 percent. The 52-week high of the share was Rs 445.00 and the 52-week low was Rs 210.25.
The latest book value of the company is Rs -196.11 per share. At current value, the price-to-book value of the company was -1.35.
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