The 20th edition of the International Aviation Conference hosted by Indian Oil Corporation (IndianOil) commenced in Hyderabad today with participation of over 100 delegates from India & abroad representing airline companies, statutory bodies, defence services, airline equipment companies, airport operators, etc.
Inaugurating the two-day event, Mr. B Ashok, Chairman, IndianOil, emphasised the direct and indirect benefits of development of the civil aviation sector across the globe. While highlighting the challenges and constraints being faced by the expected growth in air passenger traffic, he stated that IndianOil has for long been leading the aviation fuelling services segment in India, by demonstrating thecharacteristics of sufficiency, security and sustainability to fulfill the expectations of its business partners.
Mr. Ashok said that, being a customer-centric organisation, IndianOil takes pride in serving the defence services and believes in transparency and commitment for ensuring end-customer gains. He added that IndianOil strives to maintain its position of being the 'Company of Choice.'
Mr S. Venkat, Director (Finance), Air India, emphasised the renewed optimism in the aviation business caused by the recent fall in global crude oil prices. He stated that while aviation companies would benefit from fall in aviation fuel prices, there would be a huge shift of the overall business advantage from oil producers to end-consumers. "With the change in the economics of oil, volatility of oil pricing is bound to reduce," he said.
Mr. Thorsten Lange, Director (Fuel Purchasing), Deutsche Lufthansa AG, congratulated IndianOil for organising the 20th edition of the International Aviation Conference and briefed the delegates on the airline perspective of falling crude oil prices. He said that it is not the falling fuel prices but the yield of the airlines which defines their growth.
Earlier, welcoming the gathering on behalf of IndianOil, Mr. T.S. Khwaja, ED (Aviation), IndianOil, said that If aviation business were a country, it would rank 21st in the world in terms of gross domestic product (GDP). We are completing 100 years since the first commercial flight took off, he said, and emphasised the need for collaboration for efficiencies over and above technology and leadership.