The credit rating agency, ICRA has informed that the domestic aviation industry is witnessing recovery with the air passenger traffic logging about 60% growth at 13.6 crore in FY23.
In FY22, the Indian carriers had flown over 8.52 crore passengers on local route, ICRA stated. Whereas, in March, 2023, the domestic passenger traffic stood at 1.3 crore, registering a growth of about 22% from March, 2022. Moreover, the capacity deployment of all airlines increased by 38% in FY23 compared to FY22.
According to ICRA, the domestic passenger load factor for the airline industry is projected to be 89% in March 2023, as against 82% in the year prior.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.