The reputation of India’s aviation industry took a hit after the grounding of India’s Go First airline, the bankruptcy procedures that followed and a decision by regulators that blocked aircraft lessors from getting their planes back.

India today has the world’s third-largest and fastest-growing aviation market, one that is also a hotbed of dealmaking activity, as shown by Air India’s recent plan to purchase 470 aircraft from Airbus and Boeing for $70 billion. As a result, lawyers in the aviation space are finding themselves more in demand than ever.  

With populations largely grounded and demand for flights disappearing almost overnight, the aviation industry has taken a battering. However, new areas of opportunity are emerging, partly as a result of regulatory flexibility, but also due to advancements in technology.