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June 13, 2024

Monthly Domestic Passenger Traffic Data for March 2024: ICRA 

Monthly Domestic Passenger Traffic Data

The domestic air passenger traffic is estimated at ~154 million for FY2024, which represents a YoY growth of ~13%, in line with ICRA’s estimates. Further, the domestic air passenger traffic in FY2024 has surpassed the pre-Covid levels of ~142 million in FY2020 as well

The domestic air passenger traffic for March 2024 is estimated at ~13.5 million, higher than ~6.9% in comparison to ~12.6 million in February 2024. Further it grew by ~4.9% on a YoY basis, wherein the traffic in March 2023 stood at 12.9 million

The airlines’ capacity deployment in March 2024 was higher by ~2% than that of March 2023 and was higher by 9% over February 2024

It is estimated that the domestic aviation industry operated at a passenger load factor (PLF) of ~90% in March 2024, against ~88% in March 2023 and ~89% in February 2024

In FY2024, the ATF prices witnessed a sequential decline till June 2023. Post which, it increased sequentially till October 2023. However, it decreased sequentially again by 6% in November 2023, 5% in December 2023, 4% in January 2024 and by 1% in February 2024. 2024. Although in March 2024, the prices were marginally higher sequentially by 0.5%, it again declined by 0.4% in April 2024, following the trend in crude oil prices. Average ATF prices in FY2024, was lower by 14% compared to that of FY2023, but was significantly higher by 58% than the pre-Covid levels of  FY2020

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