I think the price slashing is already evident with most of the airlines launching sale offers on tickets. The tata's have much needed experience of running airlines & should be able to set the standard for the others to follow suit. They have always kept the common man as their target which is a great sign of their business acumen. I welcome there decision to enter the foray!!

Before Kingfisher fizzled out there was already enough competition. But, still, prices did not go down so much as you have expressed hope
But yes, when one hears the name of Tata, expectations of receiving quality service do rise.
This might pose a serious challenge to the national carrier, whose very roots have been eaten away by so many of its own top people (present as well as past)

Source: http://media.theage.com.au/news/national-news/pilot-raps-about-poor-working-conditions-4050418.html

There is already enough competition in air travel segment and most operators are hard pressed. Entry of one more player may not bring in fresh fare war. Air travel is affordable to masses even today, if planned in advance.

I do not think so.. other airlines have also tried it.. but with the rising fuel cost.. I do not think so.

If it is..then awsom dear........save time

Simple answer NO,