With an aim to tap the booming aviation market, Jet Airways, SpiceJet Ltd and AirAsia India are mulling over a plan to increase their fleet-size. From a year earlier, the domestic passenger traffic surged by 17.9 percent in the month of January, Reuters reported citing International Air Transport Association. The latest update marks the 41st month of double-digit growth for the Indian aviation sector. So, in view of the rising demand for domestic and international flights, air carriers are planning to add more planes to their kitty. India’s aviation sector is growing at the fastest rate in the world and traffic will keep growing for the coming 20 years, Reuters reported citing Boeing.The country’s aviation sector shall grow at a CAGR of 15 percent in the next 20 years provided crude oil prices remain below $80 per barrel, Reuters reported citing Civil aviation secretary Rajiv Nayan Choubey.

Expansion plans

Jet Airways is planning to purchase 75 Boeing 737 MAX aircrafts by March end, Reuters reported citing company CEO Vinay Dube. AirAsia India plans to expand its fleet to 60 Airbus A320  jets from 14 currently over the coming five years, Reuters reported. Spicejet is in plans to purchase 108 Boeing 737 MAX, 50 Bombardier Q400 by next five years. IndiGO plans to add 450 new planes in the coming eight years.

Air India divestment

Meanwhile, national carrier Air India’s disinvestment program is about to kick off soon as Civil Aviation Secretary RN Choubey on Thursday announced that the government is very likely to invite Expressions of Interest (EoIs) from interested parties in the coming two weeks. The ministry is also in the works to find buyers for the airline’s subsidiaries and Pawan Hans, he added. The Union Cabinet had last June cleared the proposal for debt-struck Air India’s disinvestment making a clear way for its privatisation. The Finance Ministry expects the divestment of the national carrier will be completed early this year. Last year in September, the government had invited applications from investment bankers, and law firms  to advise it about Air India’s stake sale.