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

French President tours Louvre Abu Dhabi

French President Francois Hollande, accompanied by H.H. Sheikh Abdullah bin Zayed Al Nahyan, Minister of Foreign Affairs and International Cooperation, on Saturday toured the Louvre Abu Dhabi site, the first

Trending

There will be no service charge on train e-ticket till March 2018 says Railways

The government had waived service charges after demonetisation in November last year to encourage digital modes of booking. Rail passengers will continue to get service charge exemption on tickets booked

Slider

Heavenly Spa launches Tibetan Sound Healing Meditation

As part of a conscious effort to enrich its Wellness Calendar, Heavenly Spa by Westin™ takes great pleasure to announce the launch of yet another meaningful program. Tibetan Sound Healing is a