Air passenger traffic in the country is expected to remain under pressure for the first half (April-September) of the current fiscal, with the full year passenger volume likely to go down by about half despite some recovery in H2 FY21, ratings agency Icra said on Wednesday.
Recovery in air travel demand in a meaningful manner is expected towards FY2022 and passenger traffic levels of 345 million recorded in the year ended March 2019 are likely to be surpassed only by FY2023, it added.
It also said the aviation infrastructure industry is amongst the most severely impacted by the Covid-19 crisis and the setback is expected to be substantial in the near term.
