New Delhi: The newly-formed civil aviation eEconomic advisory council (CAEAC) to advise the government on all financial policy issues and recommend a road-map to boost investment in the sector, will have its first meeting on Monday.
The meeting of the CAEAC, headed by civil aviation secretary S N A Zaidi, would also be attended by minister Praful Patel.
The council was set up following a surge in airfares for flights between different metros since mid-November as against those prevailing a week before, without any increase in cost of operation.
Following directives by the DGCA, the scheduled airlines brought down their tariffs by 20-25%. The regulator also asked the airlines to ensure transparency by keeping passengers informed about the fares available sector-wise and date-wise in layman’s language.
In this context, the council has been tasked to advise the ministry on evolving a regulatory framework to protect consumer interest, like public disclosure of tariffs and conditions of service to passengers.
The CAEAC would recommend a policy framework to ensure affordable air services to remote and under-served areas in the country, as well as on a regulatory framework to ensure sustainability and viability of air transport services.
It would also suggest approaches to a policy framework for liberalising international air services, recommend steps to boost investment in the sector and advise on all matters relating to fiscal and budgetary issues.
Besides DGCA and economic advisor to the ministry, members of CAEAC include CEOs of all scheduled airlines and airport operators, representatives of International Air Transport Association (IATA) and industry associations like Federation of Indian Airlines, Association of Private Airport Operators, CII, Ficci and Assocham.
Representatives of aviation services industry like cargo industry, travel agents, consumers fora and other legal and chartered accountants are also part of the CAEAC.