“There was a time when people at the airports admired us enviously. Today, they pity us.” The candid words by a senior pilot of the state-owned Air India describe the sad plight of the airline industry in India. The high cost of operating commercial aviation in India is squeezing the lifeblood out of the airline sector, which is rated as the ninth-largest civil aviation market in the world. One of the major challenges is the high and growing debt burden of Indian carriers. Half of ...

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