ICRA cuts India’s FY26 air passenger growth to lowest since Covid- What’s triggering the slowdown?

Rating agency ICRA has revised its overall airport passenger traffic growth projection for FY26 to 5-7 per cent YoY, the lowest since Covid. The rating agency has revised the airport passenger traffic growth estimates lower from the earlier estimates of 7-9 per cent.

The report highlighted that the overall airport passenger traffic is expected to reach 43- 44 crore in the current fiscal year. In FY25, the total airport passenger traffic reached 41 crore, registering about 9% YoY growth.