Domestic passenger departures cross 5 lakh mark for first time
Indian skies witnessed a historic milestone with 5,05,412 domestic passengers departing on a single day on November 17.
Indian skies witnessed a historic milestone with 5,05,412 domestic passengers departing on a single day on November 17.
For April 2024 to July 2024, domestic air passenger traffic surged 5.2% to 5.33 cr; international traffic for Indian carriers grew 16.7%YoY to 8.05 cr in Q1
The aviation industry is estimated to report a similar net loss of ₹3,000-5,000 crore in FY25 as well, says ICRA
Passenger traffic growth revised upwards to 14-16% in the backdrop of strong recovery momentum; international traffic to cross pre-Covid level in FY24, says ratings agency ICRA
Private airline IndiGo commands the largest market share at 55.2%; followed by Air India at 8.9%; and Vistara at 8.7%
Domestic airlines carried 1,105.10 lakh passengers during January-November 2022, up from 726.11 lakh during the year-ago period.
A bunch of factors explain why fares have hardened, especially where supply is low and erratic and why rating agencies continue to maintain a negative outlook on the sector.
Air traffic was lower than pre-Covid-19 levels of September 2019.
In the fiscal year 2022, the air traffic volumes witnessed a partial recovery of 55%, despite being hit owing to tough travel restrictions during the Covid-19 pandemic years of 2020 and 2021.
The recovery in domestic passenger traffic declined marginally to 91% of pre-Covid levels in June 2022, says ICRA.