India is a critical aviation market for growth with all kinds of opportunities and Air India is on a strong mission to overhaul its business, according to airlines' grouping Star Alliance's CEO Theo Panagiotoulias.
Star Alliance, which has been in existence for more than 25 years, is a global grouping of 26 airlines, including Air India, Lufthansa, Singapore Airlines, and South African Airlines.
Sounding bullish about the revival of Air India, a long-time member of the alliance, Panagiotoulias said the airline is on a "very strong mission" and has embarked on a major overhaul of its business.
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"India is a critical growth market and offers all kinds of opportunities," he told PTI in an interview here this week.
He also emphasised that having Air India in the alliance is a huge piece of the puzzle of the global network.
His comments also come against the backdrop of Air India taking various measures to strengthen its operations, including placing a historic order for 470 planes in February this year and expanding services.
Besides, India is one of the fastest-growing aviation markets in the world and has witnessed a strong recovery in domestic air passenger traffic after being severely impacted by Covid-19. Efforts are also going on to develop an international hub in the country.
After the pandemic, Panagiotoulias said there has been a global recovery with varying speeds. "I would say North America and Europe have recovered a lot quicker than the Asia Pacific region".
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On whether premium travel is on the rise after the pandemic, the Star Alliance chief replied in the affirmative.
"Premium travel has increased, especially leisure premium and not corporate premium. We are seeing a lot of people wanting to spend on personal experiences in a premium cabin," he noted.
On whether the alliance is looking for more members, Panagiotoulias said the 26 members cover the global comprehensively.
Panagiotoulias has more than 25 years of international experience in the airline and aviation industry, and has just joined Star Alliance from Hawaiian Airlines.
Star Alliance was founded by five airlines from the Americas, Europe, and Asia in 1997, and currently, it has 26 carriers as members.
The members come together at over 50 global hubs to offer smooth connections across a world-leading global network.
A management company based in Frankfurt and Singapore coordinates the alliance's projects and activities, including airport co-location, digital infrastructure, frequent flyer integration, and joint business lounge projects, as per its website.