Domestic air travel hits Rs 150.4 million in 2023-24
AVIATION & AIRPORTS

Domestic air travel hits Rs 150.4 million in 2023-24

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.

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.

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Infrastructure Transport

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 t..

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Infrastructure Transport

More Foreign Flights for Goa

Experts stress the need for international air service agreements to attract more foreign flights to Goa, enhancing the region's connectivity and tourism. Goa, a popular tourist destination, requires expanded international flight options to meet the growing demand from global travellers. Despite having modern airport infrastructure, the state is underutilised due to the lack of comprehensive bilateral air service agreements.

Currently, Goa's primary airport, Dabolim, and the newly operational Mopa Airport, have the capacity to handle increased air traffic. However, the absence of suffic..

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Infrastructure Transport

Thomas Cook India Highlights High Airfares

In a recent statement, Thomas Cook India's Chairman, Madhavan Menon, sheds light on the persistent challenge of high airfares gripping the aviation industry. As travel demand gradually rebounds post-pandemic, the issue of exorbitant airfares has emerged as a significant concern for both travellers and industry stakeholders. Menon's remarks underline the need for urgent attention and collaborative efforts to address this pressing issue.

The resurgence of travel in the wake of easing restrictions has been met with a surge in airfare prices, posing a considerable obstacle for travellers s..

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