AirAsia is the newest airline in Indian domestic skies and its creating some news about its promise of disruptive fares. I believe the largest low-cost carrier in Asia in terms of fleet size and passengers carried will have some affect in the industry here when it launches in October although it will focus in South India.
While reading about AirAsia, I went to this page on Wikipedia List of Airlines of India. Apart from the list of currently registered airlines, it also has a list of defunct airlines. It is a interesting reading with names like Himalayan Aviation and Indian National Airways which existed before independence and were nationalized to merge with Indian Airlines after 1947.
Any thing under the sun.. 