Domestic passenger air travel in India is likely to grow 59 percent year-over-year to 8.4 million in fiscal year 22, according to an ICRA report released on Monday.
However, according to the rating agency’s report, it is almost 40 percent less than the pre-pandemic level.
But it is good news as it shows that the aviation industry is regaining its momentum.
ICRA also expects that higher turbine (ATF) fuel rates, exacerbated by geopolitical challenges, will remain a short-term challenge for the industry.
But it will be a major profit determinant for the sector.
According to the PTI report, domestic passenger transport gradually increased by 37 percent to $ 1.06 billion in March, due to the near-normalization of aircraft operations & also the reduced impact of the pandemic, ICRA added.
Traffic growth in March this year raised to 35 percent due to an increase in vaccinations and a rapid decline in the third wave of COVID-19, which allowed travel bans to be lifted quickly, the rating agency said.
Moreover, the average number of passengers per flight in March this year was 132, against the average of 135 passengers per flight in February.
According to Icra, the resumption of planned international operations, starting on March 27 after a break of almost two years, is a significant positive development & it is just like a beacon of light at the end of the tunnel.
Hoping that things get better in the coming fiscal year.
We are surely going to witness more positive news in the Aviation industry.
So, this was all-inclusive news about Domestic air passenger traffic in India.
Though, if you have any further queries, just write to us in the comment section below.
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