As the Indian economy has been booming in the last few years, the India Aviation industry was expanding too. There were new budget airlines and private players like Dr Vijay Mallya's KingFisher Airlines Ltd coming in to play and thus making the public sector Air India and Indian Airlines more competitive in the process. As there were more flights coming in to business, the number of job opportunities in the industry has also gone up. Students started signing up for courses like airline Pilot's, flight attendant's, ground crew etc. The job growth rate was good. The salary and perks were great as well. Every one was pretty happy.
Then the US economic recession came. India was hoping that it would not be affected by the global economic recession. But those hopes are not found to be true. Slowly the effects of recession have reached India too. And it affected the aviation industry of India too. As the cash starved managements started looking for cost cutting measures, lay offs started to come in to action. Some people have lost their jobs already. The new recruitments are going at a slow rate. For the time being, the market is not great for the aviation industry in India. It is the same case scenario for the rest of the world as well.
But this is going to stay the same way for a short term only. As the fundamentals of the Indian economy are pretty strong, the economy is going to get back on a growing trend soon. It may take another three months or six months before you will see the change in the economy. But the economy is going to go back up again. By that time the jobs lost in the recent recession will be compensated.
Right now, it is a sober moment for the aviation industry in India. But it would come back up on its feet and be on the run again soon. Any one who lost their jobs in the aviation industry in the recent recession should consider this situation as a chance to refurbish their skills. Going back to school and get some more certifications while the market is running low would be a smart idea. Polish your skills and it will keep you in great shape once the economy will be back on its feet. Once the Indian economy is back on the run again, any additional skills you learned while the economy is dragging could be a great asset for you.
There is some good news already for the job seekers as Air India has started recruitment process for cabin crew. This is probably happening only in India and that should be looked at as a reason for India's aviation industry's financial strength.
We believe that for
Pessimistic its Aviation recession
Optimistic it is still an Opportunity.
Always remember Takeoff is optional Landing is compulsory
Capt Shekhar Gupta
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