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December 2, 2023

Turbulence-Free Operations Supported Healthy Ramp Up in Air Passenger Traffic: ICRA



  • Domestic passenger traffic recovered to 93% of pre-Covid levels whereas international passenger traffic recovery stands at 81% in November 2022
  • Total air passenger traffic recovery stood at 91% of pre-Covid levels in November 2022

Domestic passenger traffic increased by 3% on a month-on-month (MoM) basis (+13% YoY) in November 2022 supported by resilient passenger demand and onset of the peak season. Domestic traffic stood at 23.4 million, 93% of pre-Covid levels (similar period in FY2020) in November 2022. Overall, the recovery in domestic passenger traffic has been strong since April 2022, supported by the easing of travel restrictions, resilient passenger demand, reopening of offices, and increase in business and leisure travel. Post resumption of international commercial operations from March 27, 2022, international passenger traffic has steadily increased and reached 81% of pre-Covid levels in November 2022. International traffic witnessed 3% sequential growth to 4.9 million in November 2022 (+96% YOY). Overall passenger traffic stood at 28.3 million, a 3% MoM growth, and stood at 91% of pre-Covid-levels in November 2022 (+22% YOY).

Vinay Kumar G, V.P, Corporate Ratings, ICRA

Giving more insights, Vinay Kumar G, Vice President, Corporate Ratings, ICRA, said: “Passenger traffic is expected to sustain the healthy growth momentum backed by the onset of the peak season along with the resumption of business travel. With a strong rebound and healthy momentum in domestic passenger traffic and the uptick in international passenger, the overall air passenger traffic is expected to grow by 71-73% and reach 324-327 million (95-96% of pre-Covid levels) in FY2023. ICRA expects overall domestic passenger traffic to reach 97-98% of pre-Covid levels (FY2020) in FY2023 and international traffic to reach 87%-90% of pre-Covid levels by end-FY2023. Supported by passenger traffic, the aircraft traffic is likely to display a 45-47% YoY growth and reach pre-Covid levels during FY2023.”

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