The Indian aviation industry has experienced significant changes since its beginnings in 1912. It started with a single route operated by a British airline and an Indian company. In 1932, Tata Airlines was formed and became India's first domestic airline, later becoming Air India. The industry was nationalized in 1953 and consolidated under two carriers until 1991, when private operators were allowed. This led to intense competition and lower fares but also losses for many airlines. The current market is dominated by two major carriers, with 49% combined market share, exhibiting oligopolistic characteristics. Further consolidation and changes are expected in the future form of the industry.