The aviation industry in India has evolved over different eras from pre-nationalization with Tata Airlines to post-liberalization with the entry of private players like Jet Airways and low-cost carriers like Air Deccan. However, the sector is currently troubled with airlines making losses due to high fuel prices, currency fluctuations, and intense competition. The government is considering allowing foreign carriers to invest up to 49% in Indian carriers and other measures, but these may not be enough to address the fundamental problems facing the industry.