310 million flyers in India by 2018-19 says Report

310 million flyers in India by 2018-19 says Report

With India’s civil aviation industry showing resilience lately, the number of air passengers in the country is likely to touch 310 million by the financial year 2018-19, says a report released by a credit rating agency recently.

At present, India is the ninth-largest aviation market in the world. It was the fastest-growing domestic market in 2015 and remained strong in 2016 as well, the release issued by India Ratings and Research. Between the financial years 2008 and 2016, the number of domestic passengers grew at a compound annual growth rate (CAGR) of 8.5%. The total number of flyers including international grew at a CAGR of 8.3%.

This projection was based on the total passenger traffic reaching 274 million by financial year 2017. However, the total passenger reached only about 224 million by financial year 2016. “Pent-up demand, muted fuel prices and falling fare differences between rail and air travel are expected to drive the aviation sector growth in India over the medium to long term,” the release added.

You might also like

Slider

SOTC Travel conferred the 2017 Today’s Traveller Award for ‘Best Outbound Tour Operator’

SOTC Travel was conferred the ‘Best Outbound Tour Operator’ at the 11th annual ‘Today’s Traveller Awards 2017’, Taj Palace, New Delhi. Today’s Traveller Awards, the most respected awards in the

Trending

Soon, you’ll be able to make calls, surf the internet while flying

Services likely to be launched in 3-4 months, will be available once aircraft reaches altitude of 3,000 meters. Soon, air travellers will be able to make calls and surf internet

Latest

Guesthouse Maldives Conference 2016

Guesthouses Maldives Conference 2016 was organized by one of the leading PR firms, Maldives Getaways, was held recently. The conference, inaugurated by the Minister of Finance and Treasury, Mr Ahmed