IAC stresses devt of civil aviation

Hyderabad: The 20th edition of the International Aviation Conference (IAC) hosted by Indian Oil Corporation (Indian Oil) commenced here on Thursday with participation of over 100 delegates from India and abroad representing airline companies, statutory bodies, defence services, airline equipment companies, airport operators, etc., Inaugurating the two-day event, Indian Oil Chairman B Ashok 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 Indian Oil has for long been leading the aviation fuelling services segment in India, by demonstrating the characteristics of sufficiency, security and sustainability to fulfill the expectations of its business partners. Ashok said being a customer-centric organisation, the Indian Oil takes pride in serving the defence services and believes in transparency and commitment for ensuring end-customer gains.

He added that Indian Oil strives to maintain its position of being the ‘Company of Choice.’ Air India Director (Finance) S Venkat, in his special address, 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. Thorsten Lange, Director (Fuel Purchasing), Deutsche Lufthansa AG, congratulated Indian Oil 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 it was not the falling fuel prices but the yield of the airlines which defines their growth.