On October 9, 2022 India witnessed the most domestic flyers since the Covid outbreak in March 2020. According to the Minister of Civil Aviation Mr. Jyotiraditya Scindia, on October 9, nearly 4 lakh (402,697) people flew within the country on 2,732 domestic aircraft.
For the last few months, exorbitant airfares due to record high aviation turbine fuel (ATF) prices and a record low rupee-dollar exchange rate meant that daily domestic flight traffic remained far below 4 lakh. Airlines anticipated a resurgence in air travel following Dussehra, with this rise expected to last until early January, before the lean travel quarter (January-March) begins.
ICRA anticipates domestic passenger traffic for April-September 2022 at around 6.3 crore, a YoY increase of roughly 111% and an 11% decrease compared to pre-Covid April-September 2019. Airlines' capacity deployment in September 2022 was approximately 27% greater than in September 2021 and approximately 9% lower than pre-Covid levels. The domestic aviation industry is expected to have a passenger load factor of almost 84% in September 2022, up from around 73% in September 2021 and approximately 86% in September 2019.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.