Indian domestic air passenger traffic is anticipated to experience an 11% year-on-year increase in October, reaching 126.4 lakh, compared to approximately 114 lakh in October 2022, according to ICRA. Sequentially, the growth is projected to be 3.2%, surpassing September 2023’s 122.5 lakh. The 7-month data for FY24 (April-October 2023) indicates a 19% year-on-year growth in domestic air passenger traffic, reaching around 879.93 lakh. ICRA attributes the positive trend to increased leisure and business travel, declining crude oil prices, and efficient capacity deployment. The rating agency maintains a Stable outlook for the Indian aviation industry, anticipating continued growth.
Indian Domestic Air Passenger Traffic Expected to Grow 11% YoY in October
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