Is the turbulence in the Indian skies over? Not really? With Spice Jet joining Indigo to become only the second airline to turn profitable there is a sudden air of optimism. Spice Jet has just turned around from brink of virtual closure while Indigo Airlines has maintained its aggressive posture announcing an IPO amid talks of Qatar Air eyeing a stake in it. These are early days yet. It would be grossly erroneous to mistake the wood for the tree. The oil price cooling has of course eased pressure. But the fiscal health of aviation sector continues to be a matter of concern. Having bled right through the decade, industry estimates peg the accumulated debt at about $ 14 billion. Time NDA government quickly articulated its policy vision for the sector including most importantly taking a call on the state owned carriers.