, Columnist
Gulf Airlines' Passage to India
The Indian carrier's turnaround has been dramatic. It hasn't proven itself yet.
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Gulf carriers have a challenge: How to get their hands on Indian air passengers without risking money on Indian airlines.
Saddled with vicious competition that's seen fares drop as low as 2 cents per flight, according to Bloomberg's Anurag Kotoky, a web of state-based jet fuel taxes that can add more than 40 percent to the cost of kerosene, and chronic congestion in major cities, India's aviation industry is notoriously unprofitable.