India, Nov. 6 -- I'll begin with the good news. On October 8, Prime Minister Narendra Modi inaugurated the new Navi Mumbai International Airport (NMIA). The first phase of the NMIA, built at a cost of just under Rs.20,000 crore, is expected to be operational from December, one year post the initial deadline of December 2024. The initial handling capacity of the solo functioning terminal is expected to be around 20 million passengers a year.

The NMIA constitutes a memorable milestone for India's aviation sector. It would not be an overstatement to say that India's aviation sector and airlines over the years have paid a very high price for the failure of successive Indian governments to build a much-needed second airport in the country's f...