In my view this is a fantastic vindication of the latent potential of air traffic in India. It shows that a highly respected airline like SQ
and a highly regarded corporate like the Tata's - clearly recognize that beyond the duds who run our Civil Aviation, beyond the notoriously selfish and intrigue laden back-room shenanigans of Naresh Goyal and co. to secure their own interests (and 9W
's), they still feel that India's true aviation potential cannot be stifled for long and are willing to bet on India in the long term.
Agreed the Indian economy is going through a really bad patch. This is however not too different from what other developing economies are facing at this point of time. There is definitely a case to say that till end 2014 Indian Aviation will continue to be in the doldrums. Till the hustings in mid 2014 as we have a lame-duck Government who will not be allowed to do anything by the Opposition and thereafter till end of 2014 because whosoever comes into power will take about 6 months to understand and take corrective measures necessary to bring the growth back where it belongs.
When the economy is predicted to grow at about 7 - 7.5% p.a. in 2015-16 it is natural for pax demand to be growing in the range of about 12-15%. The Tata-SQ project should be well poised to take advantage of this crest in the business wave.
To the naysayers and doubters about India's ability to bounce back, I say wait and watch.
What is however still rather inexplicable is how Tony Fernandes is going to take this. Honestly AirAsia and all its South East Asian bluster apart - I continue to have very honest doubts about their model in India and the way they are going about it.
Sarfaroshi kii tamannaa ab hamaare dil mein hai, Dekhnaa hai zor kitnaa baazu-e-qaatil mein hai