Billionaire Rakesh Jhunjhunwala's plan to launch an ultra low-cost airline could give Boeing a chance to regain lost ground in India
New Delhi — Indian billionaire Rakesh Jhunjhunwala's plan to launch an ultra low-cost airline could give plane maker Boeing a chance to regain lost ground in India after the fall of one of its biggest customers, Jet Airways, two years ago, industry executives say.
“There will be a big fight between Airbus and Boeing,” said Nitin Sarin, managing partner at law firm Sarin & Co, which advises lessors and airlines. Jhunjhunwala, valued at $4.6bn by Forbes, did not respond to an interview request. Boeing did not respond to a request for comment. Boeing's share of India's 570 narrow-body planes fell to 18% after Jet's demise from 35% in 2018, data from consultancy CAPA India shows. Jet was recently rescued from bankruptcy and is expected to fly again.
He, however, warned that India is still a difficult place to do business, with regulatory hurdles and expensive and underdeveloped airports making LCCs less efficient than in overseas markets.
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