There seems to be an abundance of good news for Indian aviation these days.
The country’s airport operators are expected to witness revenue growth of 15-17% in FY2025, according to credit rating agency ICRA. Healthy growth in both domestic and international segment will drive overall passenger traffic to a record high of 407-418 million in FY2025, it added.
According to the agency, overall air passenger traffic is expected to witness healthy growth of around 8-11% YoY; this will be supported by strong pick-up in both leisure and business travel, improving connectivity to newer destinations in the domestic segment and the continued uptick in international travel.
“The recovery in the Indian airport passenger traffic is one of the best compared to other major global counterparts. India accounted for 4.2% of the global passenger traffic in CY2023, and its share in passenger traffic has improved from 3.8% in CY2019,” said ICRA corporate ratings sector head Vinay Kumar G.
“While the global passenger traffic recovered to just 96% of global passenger traffic in CY2023, the Indian airport passenger traffic revived to 106% of the pre-Covid level owing to strong economic growth as well as the addition of new airport routes,” Kumar added. “The Indian air passenger traffic is expected to outperform the global trend.”
It may be recalled that in April, a report by credit ratings agency CRISIL said that economic growth, addition of new airports, and improved regional connectivity are boosting domestic passenger traffic. Growth in business travel, easing of visa requirements and improving connectivity have had a positive effect on international travel as well, the report added.
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