08/08/2026
Two New CEOs, One Highly Concentrated Market: India’s Airline Battle Gets New Captains
India’s airline industry has two new captains, and they have arrived almost simultaneously at the country’s two dominant carriers.
William Walsh took charge as CEO of IndiGo on August 3, bringing decades of global aviation experience after leading British Airways, IAG and the International Air Transport Association. Two days later, Air India appointed Tewolde Gebremariam, the former CEO of Ethiopian Airlines, as its new CEO and Managing Director.
Their timing is striking because they inherit an airline market that has become one of the most concentrated in the world.
IndiGo dominates India’s domestic aviation market, while the Tata Group-backed Air India has emerged as its principal challenger following the consolidation of Air India, Air India Express and Vistara. Together, the two groups account for the overwhelming majority of India’s domestic air traffic.
For Walsh, the task is to defend and expand IndiGo’s extraordinary lead while accelerating its international ambitions. For Gebremariam, the challenge is almost the reverse: transform Air India into a credible global competitor capable of taking meaningful share from IndiGo.
Gebremariam arrives with a formidable record. During his tenure at Ethiopian Airlines, he oversaw a dramatic expansion of the carrier’s fleet, network and revenues. He now faces a far more difficult turnaround at Air India, which reported losses of more than $2 billion for 2025-26.
Two CEOs. Two days. Two airlines controlling the centre of India’s aviation battlefield.
The next chapter of Indian aviation has its captains.
airlines
