NEW DELHI: Rating agency ICRA has forecast that India\u2019s domestic and international air traffic will likely to reach pre-Covid levels in fiscal 2022-23 and FY2023-24, respectively. It says major airports\u2019s pre-pandemic planned capital expenditure of about Rs 77,000 crore in FY2020 to FY2024 is likely to be delayed by up to a year due to slower project execution, significant decline in traffic, revenues and cash flows that will make them preserve cash and defer capex.
\nICRA vice-president Anupama Arora said: \u201cWe expect passenger traffic to grow by around 133% in FY2022 and 14% in FY2023 after a contraction of 63% in FY2021. Given that the domestic recovery is hampered by sluggish demand from leisure and business travel and the recovery in international travel is contingent on various government measures for control of Covid amid resurgence of variants as well as success of mass vaccination, the domestic traffic is likely to reach pre-Covid levels in FY2023 and international in FY2024.\u201d
\nIn January 2021, domestic air traffic had reached 73% of pre-pandemic times. \u201cThe passenger traffic recovery in recent months, which reached 1.5.2 million in January 2021, is supported by increase in capacity of airlines, travel during festive and wedding season. Some resumption in travel to key leisure destinations with onset of fatigue due to work from home is also visible. <\/p>\n","protected":false},"excerpt":{"rendered":"
NEW DELHI: Rating agency ICRA has forecast that India\u2019s domestic and international air traffic will likely to reach pre-Covid levels in fiscal 2022-23 and FY2023-24, respectively. It says major airports\u2019s pre-pandemic planned capital expenditure of about Rs 77,000 crore in FY2020 to FY2024 is likely to be delayed by up to a year due to slower project execution, significant decline in traffic, revenues and cash flows that will make them preserve cash and defer capex. ICRA vice-president Anupama Arora said: \u201cWe expect passenger traffic to grow by around 133% in FY2022 and 14% in FY2023 after a contraction of 63% […]<\/p>\n","protected":false},"author":44,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[220,130,137],"tags":[],"class_list":["post-402683","post","type-post","status-publish","format-standard","hentry","category-civil-aviation-the-times-of-india","category-newspapers","category-the-times-of-india"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/402683","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/44"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=402683"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/402683\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=402683"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=402683"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=402683"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}