India’s democratic festival, the general elections, grounding of the Boeing 737 Max, the Jet Airways crisis and hotel inventory renovation coinciding with the summer vacations all seem to have dampened travel plans this holiday season.
According to an annual survey by Yatra.com, only 68 per cent of the surveyed Indians planned a summer vacation in comparison to 81 per cent last summer.
According to credit rating agency ICRA, after years of strong growth, the traffic growth at Indian airports has hit an air pocket with passenger traffic declining by 1.1 per cent (Y-o-Y) in March 2019. This has dragged down the FY2019 passenger traffic growth to 11.6 per cent, making it the lowest over last five fiscals. During the same period, the aircraft traffic grew by 12.1 per cent, while the cargo traffic increased by 6 per cent.
