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June 12, 2024

ICRA’s Views on the Monthly Domestic Passenger Traffic Data for the Aviation Industry for April 2024

Aviation Industry Monthly Domestic Passenger Traffic Data

The detailed report is also attached for your reference.1. The domestic air passenger traffic for April 2024 is estimated at ~132.8 lakh, lower by ~0.6% in comparison to ~133.7 lakh in March 2024. However, it witnessed a YoY growth of ~3.1% in comparison to ~128.8 lakh in April 2023 and significantly higher by 21% than pre-Covid levels of ~110.0 lakh in April 2019.

2. The airlines’ capacity deployment in April 2024 was higher by ~2% than that of April 2023 but was lower by 3% over March 2024.

3. It is estimated that the domestic aviation industry operated at a passenger load factor (PLF) of ~88% in April 2024 and April 2023 and ~86% in March 2024.

4. In the current fiscal, some of the airlines have faced also flight cancellations and delays due to shortage of cabin crew and pilots, impacting the industry capacity as a whole as well as adding to customer woes.

5. Post a YoY decline of 14% in average ATF prices in FY2024, the prices in April 2024 declined by 0.4% sequentially and rose by 0.7% in May 2024. Between April 2023 and March 2024, the ATF prices were lower on a YoY basis, except in October 2023. In April 2024 and May 2024, the ATF prices were higher by 3.1% and 6.4%, respectively, on a YoY basis.

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