+
Domestic Air Passenger Traffic Soars
AVIATION & AIRPORTS

Domestic Air Passenger Traffic Soars

In the dynamic landscape of air travel, the Indian domestic aviation sector has witnessed remarkable growth, with passenger traffic reaching an impressive 154 million in the fiscal year 2023-24, according to ICRA, a renowned credit rating agency. This surge in numbers underscores the resilience and vitality of the aviation industry in India, despite various challenges and disruptions.

The robust expansion in domestic air passenger traffic can be attributed to several factors. Firstly, the growing disposable income and burgeoning middle-class population have fuelled the demand for air travel, making it a preferred mode of transportation for both business and leisure purposes. Additionally, the increasing affordability and accessibility of airfares, coupled with the expansion of routes and connectivity, have made flying more convenient and attractive to a wider demographic.

Moreover, the advent of low-cost carriers (LCCs) has revolutionised the aviation market, making air travel more affordable and accessible to a larger segment of the population. These budget airlines have not only democratised air travel but have also stimulated competition within the industry, leading to competitive pricing strategies and enhanced service offerings.

Furthermore, the government's initiatives to promote regional connectivity through schemes like UDAN (Ude Desh ka Aam Nagrik) have played a pivotal role in bolstering domestic air travel. By incentivising airlines to operate flights to underserved and remote regions, UDAN has facilitated greater connectivity, economic development, and tourism growth in these areas.

The surge in domestic air passenger traffic also underscores the resilience of the aviation sector in adapting to the challenges posed by the COVID-19 pandemic. Despite initial setbacks and disruptions caused by travel restrictions and lockdowns, the industry has demonstrated remarkable agility and recovery, bouncing back stronger than ever before.

Looking ahead, the outlook for the Indian domestic aviation sector remains promising, with continued growth expected in the coming years. As the economy recovers and travel restrictions ease, the demand for air travel is projected to soar even higher, presenting lucrative opportunities for airlines, airports, and related stakeholders to capitalise on this burgeoning market.

In the dynamic landscape of air travel, the Indian domestic aviation sector has witnessed remarkable growth, with passenger traffic reaching an impressive 154 million in the fiscal year 2023-24, according to ICRA, a renowned credit rating agency. This surge in numbers underscores the resilience and vitality of the aviation industry in India, despite various challenges and disruptions. The robust expansion in domestic air passenger traffic can be attributed to several factors. Firstly, the growing disposable income and burgeoning middle-class population have fuelled the demand for air travel, making it a preferred mode of transportation for both business and leisure purposes. Additionally, the increasing affordability and accessibility of airfares, coupled with the expansion of routes and connectivity, have made flying more convenient and attractive to a wider demographic. Moreover, the advent of low-cost carriers (LCCs) has revolutionised the aviation market, making air travel more affordable and accessible to a larger segment of the population. These budget airlines have not only democratised air travel but have also stimulated competition within the industry, leading to competitive pricing strategies and enhanced service offerings. Furthermore, the government's initiatives to promote regional connectivity through schemes like UDAN (Ude Desh ka Aam Nagrik) have played a pivotal role in bolstering domestic air travel. By incentivising airlines to operate flights to underserved and remote regions, UDAN has facilitated greater connectivity, economic development, and tourism growth in these areas. The surge in domestic air passenger traffic also underscores the resilience of the aviation sector in adapting to the challenges posed by the COVID-19 pandemic. Despite initial setbacks and disruptions caused by travel restrictions and lockdowns, the industry has demonstrated remarkable agility and recovery, bouncing back stronger than ever before. Looking ahead, the outlook for the Indian domestic aviation sector remains promising, with continued growth expected in the coming years. As the economy recovers and travel restrictions ease, the demand for air travel is projected to soar even higher, presenting lucrative opportunities for airlines, airports, and related stakeholders to capitalise on this burgeoning market.

Next Story
Infrastructure Transport

Cabinet Clears Rs 15.07 Bn Greenfield Airport Project in Kota-Bundi

The Cabinet Committee on Economic Affairs, chaired by Prime Minister Narendra Modi, has approved the Airports Authority of India’s (AAI) proposal for the development of a Greenfield Airport at Kota-Bundi, Rajasthan, at an estimated cost of Rs 15.07 billion.Kota, located on the banks of the Chambal River, is widely recognised as the industrial capital of Rajasthan and a prominent educational coaching hub. To support the region’s growing needs, the Government of Rajasthan has handed over 440.06 hectares of land to AAI for the project.The new Greenfield Airport will be designed to handle oper..

Next Story
Infrastructure Urban

Govt may extend MSME NPA classification period to 180 days

The Union government is considering a proposal to extend the non-performing asset (NPA) classification period for loans to micro, small and medium enterprises (MSMEs) from the existing 90 days to 180 days, according to a senior government official who requested anonymity.“The proposal to extend the loan default period for MSMEs from 90 days to 180 days is likely to be taken up by the Cabinet soon,” the official said.The move is expected to provide relief to cash-strapped MSMEs, especially against the backdrop of steep US tariffs, giving them more time to regularise their loan repayments.Ne..

Next Story
Infrastructure Urban

FedEx, IIT Madras Launch SMART Centre for Sustainable, AI-led Logistics

FedEx has partnered with the Indian Institute of Technology (IIT) Madras to inaugurate the SMART Centre (Supply Chain Modelling, Algorithms, Research and Technology Centre) on the institute’s campus. The facility will drive innovation in sustainable and AI-driven logistics solutions. Backed by a five-year $5 million grant from FedEx, the SMART Centre aims to combine advanced research, digital technologies, and industry expertise to transform supply chains with a focus on agility, resilience, and environmental responsibility.The centre will also spearhead interdisciplinary projects in ar..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?