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Hi,
A degree in aviation management opens up many different job possibilities. There are various courses available related to aviation management. Aviation Industry typically is divided into airlines for passengers (life) and cargo (non-life). Ground functions include Airport Operations, Reservations and ticketing and even sales and marketing. Job options depend on the type of course done. Aviation being a broad field, there are many opportunities in this sector. You can expect to be qualified for a job as an accident investigator, air traffic controller, airline manager, aviation attorney, maintenance manager, or safety inspector. Aircraft manufacturers, airports, cargo airlines, colleges/universities, medical airline transports, private airlines, professional development centers, and tourism boards are some of the places that hire people with experience in aviation management. Some of the top airlines companies like Sahara India, Kingfisher Airlines, Jet Airways, Indian Airlines, etc. take candidates trained through professional aviation courses. Besides career prospects in India, there are plenty of job opportunities in the aviation sector abroad in international airlines like Lufthansa, Emirates, Qantas, Singapore Airlines, etc.

Radhika,
M.Sc and MBA both are equally good and both are postgraduate courses. After M.Sc the common options available are teaching for which either you need to go for B.Ed or clear NET exam. If you go for specialisations like microbiology/ biotechnology/ biochemistry, etc. You can go for job in some MNC. After MBA, you will be getting jobs in MNC and in order to go up the ladder of your career, MBA would be a better option.Many private universities like Lovely, Symbiosis, SRM, etc. are offering various specializations in both M.Sc as well as MBA. They are world class universities with modern infrastructure, offering good scholarships and placements to their students. Check their websites for more details.