ICRA, in its views on the monthly domestic passenger traffic data for the aviation industry for August 2023, has said that its outlook on the Indian aviation is Stable and cited the rapid recovery in the domestic passenger traffic in the financial year 2023 and an expectation of the trend carrying on in the financial year 2024.
In its report, ICRA said that in August 2023, the domestic air passenger traffic was estimated at approximately 124.8 lakh, a jump of nearly 3.2% from about 121 lakh recorded in July 2023. The year-on-year growth stood at approximately 23%.
