The year 2014 was a roller coaster year for the Indian aviation sector, which experienced some major highs and lows. A distressed Spice Jet waiting for its revival plan and the Kingfisher story occupied large parts of newspaper and television channel space.

   “There was an unprecedented increase in terms of costs owing to fuel taxation policies and monopolies of airports. As airline prices continued to spike, passenger numbers dropped precipitously,” says Satya D. Sinha, chief executive officer, Mancer Consulting, a leading executive search firm. The news, however, was not all that bad.

   “This year, the Indian aviation industry joined the coveted Star Alliance (the world’s largest global airline alliance with Air India now a member). Plus, new airlines were permitted operations and there has been a significant addition of routes by global players. Last but not the least, new airports have mushroomed....