CAPA India was established more than 19 years ago with a mission to become a leader in global aviation knowledge. We have since built a worldwide portfolio of clients and experience, and an enviable reputation for independence, insight and integrity. Today aviation businesses around the world turn to us for sound advice and research.
Our mission is to deliver game-changing solutions to the aviation, aerospace and travel industries with independence and integrity across the four core pillars of our business:
- Advisory: Making a positive difference to our clients’ businesses by delivering positive strategic, commercial, operational and financial outcomes.
- Innovation & Research Centre. : Providing cutting-edge research and comprehensive data on global best practices and benchmarks, with the objective of identifying new solutions that will redefine aviation business models
- Digital Transformation: Delivering end-to-end digital transformation strategies for global aviation, and incubating technology solutions to optimise outcomes for our clients through business transformation
- Transaction & Capital Advisory: Supporting aviation, aerospace and travel businesses with raising debt or equity funding, either for established or start-up ventures
Our USP is the combination of our:
- Commitment to outcomes
- Depth of knowledge
- Competence and sincerity
- Independence
- Intellectual and financial integrity
Years of Experience
Global Projects
Clients
Consultants
Our recent
projects include:

African Airline |
Board Advisory
CAPA India was engaged to conduct a strategy workshop for the entire Board and the majority government shareholder of this national carrier with a route network spanning Europe, Africa, Asia and Australia. The workshop involved identifying trends in the global environment that could have a critical impact on the airline’s business outlook and considering alternative future scenarios for its business model.

African Airline |
Restructuring & Business Transformation
CAPA India was appointed to develop a 10-year business transformation plan for the airline, including a new fleet and network strategy, a revitalised commercial approach, identification of opportunities to achieve process and cost efficiencies, and the adoption of a more customer-centric approach.

ASEAN Tourism Authority |
Marketing & Positioning Strategy
One of the world’s leading tourist destinations appointed CAPA India to conduct a detailed strategic review and market assessment of its customer proposition, to support the development of a plan to grow visitor numbers, particularly from secondary markets.

African FBO |
Business Development Plan
CAPA India was engaged to develop a strategic roadmap for the operator of a luxury lounge and an FBO to attract increased business jet activity. The study entailed conducting a global benchmarking exercise to identify best practices for FBOs in high-end destinations, which formed the basis for a marketing and implementation plan.

ASEAN Airport Operator |
Non-Aero Revenue Strategy
The operator of three airports in this ASEAN nation appointed CAPA India to assist with a detailed strategic review of its non-aero revenue business strategy, encompassing ground handling, catering, MRO and fuel farm. This included benchmarking against regional peers and developing a new plan to maximise their commercial contribution.

South Asian Bank |
Airport Techno-Economic Viability Study
We were appointed to conduct a Techno-Economic Viability study for a bank planning to extend debt to a greenfield airport. This included an independent assessment of demand, airport capacity, capex phasing and costs, aero and non-aero revenue forecasts, pricing strategy, financial assumptions, regulatory clearances, environmental impact and risks.

ASEAN Private Equity Fund |
Bid Advisory Services
We were engaged to conduct a financial and strategic due diligence of a travel distribution company, which involved market and competitor analysis, traffic and segment forecasting, in-depth review of the financials of the target company and recommendations on risk mitigation strategies. Our client was the successful bidder for stake on offer in the target company.

Canadian Airport |
Traffic Analysis & Route Development
CAPA India conducted a detailed analysis of tourism flows from India to Canada, based on consumer, trade and secondary research, supported by a benchmarking of Canada against competing destinations. This was used to develop a business case that successfully convinced an airline to launch a new route.

European Real Estate Business |
Airport Logistics Study
We conducted two separate studies on policy and infrastructure issues for several Asian markets for one of the world’s largest real estate companies specialising in the development of logistics infrastructure and facilities located close to airports.

South Asian Airports |
Privatisation Bid Advisory
CAPA India was engaged by a leading infrastructure company to provide end-to-end bid advisory services in relation to the tender process for six airports. The study included demand modelling, capacity assessments, strategic inputs, risk assessment, competition analysis, valuations and financial models.

South Asian Airport |
Hub Development Strategy
This gateway airport engaged CAPA India to prepare a strategy for a dual hub operation to maximise the airport system’s revenue potential. This included a detailed analysis of the catchment area, identification of air service development opportunities and a comprehensive plan to facilitate self-connect. It also included a differentiated commercial strategy leveraging a new concessionaire partnership, a loyalty programme and predictive data analytics.

South Asian Airport |
Aero Commercial Strategy
CAPA India is engaged as the dedicated aero-commercial planning consultant for this greenfield airport that will operate in a competitive dual airport system. We are responsible for defining the value proposition for the new airport, identifying network opportunities, developing a marketing strategy and securing agreements with prospective airlines.

South Asian Airport |
Traffic Forecasting for Bond Issue
We conducted due diligence on the post-COVID traffic recovery forecasts developed by an operator of several airports to support its bond issue. We were required to pressure-test and validate the assumptions scenarios that had been prepared internally and to overlay these with our strategic understanding of how the market was likely to evolve.

South Asian Airport |
Regulatory Advisory
We were engaged as technical consultants to support submissions to the economic regulator. The study involved the development of annual traffic and detailed non-aero revenue projections by segment through to FY2025. A comprehensive assessment of the likely drivers of traffic recovery post-COVID was also a core element of the project.
Chairman's
Message

Until recently, India was the fastest growing major aviation market in the world. But with one of its largest carriers suspending operations due to financial difficulties, this is creating unanticipated challenges as well as new opportunities. In such a fluid environment, sound advice – based on a deep understanding of the market, careful analysis and accurate data – is critical.
This is CAPA India’s strength. We are honoured that some of the leading names in global aviation are turning to us to help them navigate the changing tides in the sector. In the last few months we have worked on a diverse set of projects ranging from airline restructuring for an African national carrier to airport bid advisory, due diligence in the ground handling sector, route development for an Australian airport, and preparation of a tourism marketing strategy for an ASEAN destination.
We look forward to continuing to expand our portfolio of experience in aviation, travel and tourism; strengthening our analytics, custom research and transaction advisory divisions; and to developing new verticals in aerospace and defense to support the growth of the industry.
Peter Harbison
CAPAGlobal
Team

Kapil Kaul
CEO & Director
Binit Somaia
Director
Paramprit Singh Bakshi
Vice President
Vivek Keerthy
Practice Lead – Strategy
Manvi Hooda
Senior Manager & Practice Lead
Abhishek Banerjee
Senior Manager & Practice Lead
Aparajita Basak
Practice Lead – Innovation & Research Centre
Amit Thakran
Manager – Consulting & Research
Nidhi Grover
Manager – Consulting & Research
Anant Singhal
Team Leader – Consulting & Research
Shruti Porwal
Team Leader – Consulting & Research
Varun Kumar
Team Leader – Consulting & Research
Sathyanarayanan S.
Team Leader – Consulting & Research
Charu Gulati Malik
Manager – HR & Administration
Karishma Sharma
Manager – Marketing
Abhipsa Talwar
Management Coordinator
Vishal Walter
Editor
Abhinandita Banerjee
Consultant
Dipra Dey
Consultant
Pavan Soni
Consultant
Lenish Patel
Consultant
Hiten Parmar
Consultant
Susheel Kumar Siram
Consultant
Ansu Priya Nair
Analyst
Piyush Pallav
Analyst
Raaghul Ramani
Analyst
Tarun Raina
Analyst
Arushi Soni
Analyst
Shivangi Singh
Analyst
Saurabh Krishan
Analyst – Data Management & Analysis
Shaleen Dalal
Associate
Siddharth Sawhney
Associate
Kevin Jose
Associate
Siddharth Varkey
Associate
Aditya Tiwari
Associate
Pradyumna Thaware
Associate
Dipra Majumdar
Associate
Arun Bharti
Associate – Data Management & Analysis
Anikit Rai
Senior Executive – HR & Administration Executive
Jaggan Singh
Documentation Support and Design Analyst
Dheeraj Bhatia
Junior Associate – Data Management & Analysis
Tanvi Harjai
Junior Associate – Data Management & Analysis
Nilay Suman
Junior Associate – Data Research
Jagruti Mahapatra
Junior Associate – Data Research
Mahesh Chandra Singh
Administration SupervisorSenior Advisors
Kausik Chowdhuri
Senior Advisor Airport Bid Advisory & PPP
Sylvia Lestavel
Senior Advisor Customer Experience & Operations
Ian Smith
Senior Advisor Engineering & Maintenance
Capt. Saleem Zaheer
Airline Operations & Advanced Air Mobility
Vivek Anand
Customer Service & Ground Operations
Sunmuga Kanaratnam
Engineering & Maintenance
Aloke Singh
Airline Consulting Group
Dr. Atat Li-Kim-Mui
Senior Advisor Revenue Optimisation

Kausik Chowdhuri
Senior Advisor Airport Bid Advisory & PPP
Sylvia Lestavel
Senior Advisor Customer Experience & Operations
Ian Smith
Senior Advisor Engineering & Maintenance
Capt. Saleem Zaheer
Airline Operations & Advanced Air Mobility
Vivek Anand
Customer Service & Ground Operations
Sunmuga Kanaratnam
Engineering & Maintenance
Aloke Singh
Airline Consulting Group