Indian Airlines Can Beat Emirates and Etihad, Says Spicejet Co-founder Ajay Singh
To make this possible, Ajay Singh said a new robust restructuring tax framework and political will induced by the government was needed.
SpiceJet co-founder Ajay Singh during the 'Get, Set, Grow' session at the News18 Network's Rising India Summit 2019 in New Delhi. (Image: News18)
New Delhi: Low cost airline SpiceJet co-founder Ajay Singh said Indian companies had the capability to beat international brands like Dubai-based Emirates and Etihad Airways.
Speaking at the News18 Network's Rising India Summit 2019, Singh said a new robust restructuring tax framework and political will induced by the government was needed to make this possible.
"There is a mindset problem in India. Most people think flying is for the rich and hence, taxes on aviation are crazy. India has the highest number of taxes. This has to change,” he said.
According to Singh, aviation is an exciting sector in India with a 20 per cent growth rate — the fastest in the world. These figures are only increasing with the opening of 50 more airports in the next two years, adding to the tally of the 75 existing ones.
Seeking a level-playing field to compete with international air travel companies, Singh said taxes in the aviation sector needed to come down.
Stating that the current scenario in the industry is such that companies, especially low cost airlines, end up losing money in paying high taxes, Singh said "The is a strong demand that our taxes need to come down. We need to stop shipping planes out for maintenance as it is expensive."
Asking for increased investment in the aviation sector, Singh envisioned an India where the nation would give pilots to the world, while also reducing dependence on foreign companies to meet out aviation demands.
"We can do much more on aviation," said Singh.
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