Domestic air travel hits Rs 150.4 million in 2023-24

16 Apr 2024 CW Team

Domestic air passenger traffic likely experienced an annual growth of 13 percent, reaching approximately 150.4 million in 2023-24, with the aviation industry's net loss expected to have decreased to Rs 30 to 40 billion during the same period. According to the report released by credit rating agency Icra, it was mentioned that the ability of airlines to raise yields proportionate to their input cost increases would be crucial for expanding their profitability margins. Additionally, supply chain challenges and engine failure issues were noted as near-term headwinds.

For the fiscal year 2023-24, it was estimated that domestic air passenger traffic would be around 154 million, representing a Year-on-Year (YoY) growth of approximately 13 percent. The report stated that domestic air passenger traffic in FY2024 surpassed pre-Covid levels, which were around 142 million in FY2020. Furthermore, for March 2024, domestic air passenger traffic was estimated at around 135.2 lakh, showing a 6.9 percent increase compared to approximately 126.4 lakh in February 2024. Moreover, it experienced a growth of about 4.9 percent on a YoY basis.

The report also indicated that the country's aviation industry is anticipated to report a significantly reduced net loss of Rs 30-40 billion in FY2024 and FY2025 compared to Rs 170-175 billion in FY2023. AIX Connect, Air India, InterGlobe Aviation, Tata SIA Airlines, and SpiceJet were mentioned as the key players in the industry.

Resources

05 May 2026

IGBC Hyderabad Chapter Appoints Cybercity MD as Co-Chairman

Indian Green Building Council has appointed Venu Vinod, Managing Director of Cybercity Builders and Developers, as Co-Chairman of its Hyderabad Chapter.The appointment comes as Hyderabad continues to strengthen its position as a key hub for sustainable urban development and green building adoption. With over two decades of experience in real estate and a broader business career spanning multiple sectors, Vinod has been associated with promoting environmentally responsible development practices.Under his leadership, Cybercity Builders has integrated sustainability principles aligned with IGBC�..

Hettich Ludhiana HeX Store Expands North India Presence

Hettich India has launched a Hettich Exclusive (HeX) store in Ludhiana, expanding its experiential touchpoints in North India during its silver jubilee year in the country.The new store offers an integrated, solution-led retail experience with curated walk-throughs of contemporary furniture featuring German fittings, architectural hardware, lighting systems and built-in kitchen appliances. It also provides free design services, enabling customers to visualise and customise furniture solutions for their living spaces.Rahul Thakkar, Director – Sales, Hettich India, said, “Ludhiana’s transf..

JSW One Acquires BuildNext to Strengthen Home Platform

JSW One Platforms has acquired BuildNext Construction Solutions to strengthen its presence in India’s home construction and renovation segment.The acquisition builds on JSW One’s existing platform, JSW One Homes, enhancing its ability to offer integrated services spanning materials procurement, design, execution and project management to individual home builders, contractors and homeowners.As part of the transaction, Pidilite Ventures will transfer its stake in BuildNext to JSW One through a share-swap arrangement, while continuing to participate in the company’s growth.The integration c..