Domestic aviation industry on recovery path; passenger traffic 60% higher in FY23

| | Mumbai
  • 0

Domestic aviation industry on recovery path; passenger traffic 60% higher in FY23

Thursday, 13 April 2023 | PTI | Mumbai

The domestic aviation industry continues to witness recovery with air passenger traffic logging around 60 per growth at 13.60 crore in FY23 annually, ICRA said on Wednesday.

Despite this, domestic air passenger traffic remained around 4 per cent below the pre-pandemic (FY20) volume of 14.15 crore, the credit rating agency said. The Indian carriers had flown a total of 8.52 crore passengers on local routes in the year ended March 2022, as per ICRA. Domestic passenger traffic stood at 1.30 crore in March this year, a growth of around 22 per cent from March 2022 volume of 1.06 crore, said Suprio Banerjee, Vice President, ICRA.

In FY23, the overall airlines’ capacity deployment was higher by 38 per cent as compared to FY22, he said. The airlines’ capacity deployment last month was higher by 14 per cent year-on-year and around 7 per cent more than pre-COVID level of March 2019, ICRA said. The domestic passenger load factor of the airlines industry, according to ICRA is estimated at 89 per cent in March 2023, against 82 per cent in the year- ago period and 87 per cent in March 2019 (pre-COVID levels).

Despite a healthy recovery in passenger traffic, the domestic aviation industry continues to face challenges on account of elevated aviation turbine fuel prices and depreciation of the rupee against the US dollar, both of which have a major bearing on the airlines’ cost structure, it added.

Sunday Edition

Food Freak | Lobsters Take Centre Stage at Grappa Pop-Up

24 November 2024 | Pawan Soni | Agenda

A Cozy Escape

24 November 2024 | Abhi Singhal | Agenda

Reviving Telangana’s Culinary Heritage

24 November 2024 | Sharmila Chand | Agenda

The art and spirit of cake mixing

24 November 2024 | Team Viva | Agenda

LUXURY CONVERGE AT HONG KONG

24 November 2024 | AKANKSHA DEAN | Agenda

Discovering the World’s True Essence

24 November 2024 | RUPALI DEAN | Agenda