India, Dec. 9 -- Even as IndiGo Airline grounds flights, passengers go crazy, regulators take refuge behind inquiries, pilots blame managers, and the country's civil aviation sector goes for a six, the central minister, K Rammohan Naidu claims that this is the best "time to start an airline in India." He adds that the country needs "five big airlines," and the ministry encourages competition, and wants "more airlines to join the industry" with the Government's support. He predicts that the demand is likely to grow at a rapid pace in the future. While the desires are noble, the in-air realities are turbulent.

Of course, there is a difference between a need, desire, or wish, and what the market dynamics can accommodate. In the past three d...