Whalesbook
DGCA ka rule ab aur bhi tight ho gaya hai, bhai! Unhone poore January 2024 se December 2025 ke beech mein airlines ko ek-do nahi, balki 352 show cause notices chipka diye hain. Sabse zyada tension toh IndiGo ke liye hai, kyunki unhe 98 notices mili hain. Air India bhi peeche nahi hai, unhe 84 notices pakda di gayi hain. Iske baad Air India Express ko 65 aur SpiceJet ko 45 notices mili hain. Ye figures batate hain ki DGCA ab compliance ko lekar bilkul bhi serious ho gaya hai aur koi bhi gadbad bardasht nahi karega.
In 352 notices mein se, 139 cases mein toh direct penalties lagayi gayi hain, matlab companies ko financial punishment mila hai. Aur 113 cases mein warnings di gayi hain. Kamaal ki baat toh ye hai ki sirf 7 airlines ne aise replies diye jinse DGCA santusht hua aur unhe bina kisi action ke chhod diya gaya. Matlab, airlines ko ya toh jurmana bharna padega ya phir apne operations mein sudhar karna hoga.
Lekin baat sirf rules todne tak seemit nahi hai. DGCA ab airlines ke aircraft ki health par bhi sakhti se nazar rakh raha hai. Pichhle saal January 2025 se February 2026 tak, 754 aircraft mein se 377 aircraft mein recurring technical defects paaye gaye hain. Air India group ka scene yahan bhi thoda nazuk hai, unke 267 mein se 191 aircraft mein issues mile hain, jo lagbhag 72% banta hai. IndiGo ke bhi 405 mein se 148 aircraft flagged hue hain. SpiceJet aur Akasa Air bhi is list mein shamil hain. Ye data dikhata hai ki maintenance aur technical side mein abhi bhi kaafi kaam karne ki zaroorat hai.
Ye sab tab ho raha hai jab Indian aviation market bahut tezi se growth kar raha hai, lekin sath hi mushkilen bhi badh rahi hain. Analysts ka anuman hai ki FY26 tak airlines ko collective losses ₹17,000 se ₹18,000 crore tak ho sakte hain. Ab dekho, IndiGo jaise bade player ko December 2025 mein flight cancellations ke liye ₹22.2 crore ka fine laga tha, lekin market experts keh rahe hain ki ye unke liye zyada bada nahi hai, unke projected profit ka sirf 0.31% tha. IndiGo ka market cap abhi lagbhag ₹1.89 trillion hai aur P/E ratio 28.2 ke aas paas chal raha hai. Dusri taraf, SpiceJet ki situation alag hai; unka P/E ratio negative mein hai, matlab woh abhi bhi loss mein hai aur unka stock price bhi pichhle saal kaafi gira hai. Market mein IndiGo ka hold 60-65% hai, toh ek player ki problem poore sector ko effect kar sakti hai.
Ab sabse bada bear case ya risk kya hai airlines ke liye? DGCA ki badhti hui strictness aur aircraft mein chal rahe technical issues airlines ke liye operational costs aur badha rahe hain. Yaad hai, December 2025 mein IndiGo ko FTL (Flight Duty Time Limitations) rules follow na karne ke karan schedule 10% cut karna pada tha aur ₹50 crore ki bank guarantee bhi deni padi thi. Air India group jo keh raha hai ki unke fleet issues non-critical hain, phir bhi unka 72% ka defect rate chintajanak hai. Jo airlines already financially stressed hain, jaise SpiceJet, unke liye ye situation aur bhi khatarnak ho sakti hai.
Toh future mein kya expect karna chahiye? Ye pakka hai ki airlines ko DGCA ke rules ko aur bhi zyada seriously lena padega aur operational reliability par double dhyaan dena hoga. DGCA ne bhi apne technical manpower ko badha diya hai, 2022 mein 637 posts thi jo ab 1,063 ho gayi hain. Safety aur proper compliance hi ab long-term success aur investors ka trust jeetne ka ek hi rasta hai.