Domestic air passenger traffic to increase 8-13% this fiscal: ICRA

Domestic air passenger traffic is likely to grow 8-13 per cent in the current fiscal and the aviation industry is also expected to trim the losses further, credit rating agency Icra said on Thursday.

Icra, in its mid-year update on Indian aviation, also maintained a “stable outlook” on the industry, amidst the continued recovery in domestic and international air passenger traffic in FY2024, and improved pricing power of the carriers.

After the fast-paced recovery in FY2023, Icra said it estimates growth in domestic air passenger traffic in FY24 at 8-13 per cent, thus reaching 150-155 million passenger traffic, surpassing the pre-Covid levels of 141.2 million passengers in FY2020.