Access exclusive research, insights, and surveys
Access exclusive research, insights, and surveys
Domestic passenger air traffic in India in the fiscal year 2023-24 is estimated at 154 million, according to credit rating firm ICRA. This figure exceeds the pre-Covid figure of 142 million domestic air passengers recorded in the 2019-20 monetary year. An extra from the company said domestic air passenger traffic was up 13% from last year.
“ICRA’s outlook on the Indian aviation industry is strong, amid a continued recovery in domestic and overseas passenger air traffic, a robust cargo environment, and expectations of a continuation of the trend in the 2024-25 monetary year,” the firm said.
Growth of the Indian aviation sector: The aviation industry in India is undergoing adjustments as the market is underserved. India’s Aviation Minister Jyotiraditya Scindia said earlier this year that the country is expected to be one of the 20 largest least penetrated markets. until 2030, despite its immediate growth.
The Airports Authority of India (AAI) plans to invest INR 300 billion ($3. 6 billion) over the next five years to build and renovate the country’s airport infrastructure. Meanwhile, the Adani Group will inject INR 600 billion ($7. 25 billion) into its airport business over the next five to ten years to expand seven of the existing airports in its portfolio.
Recently, terminals were opened at 12 airports across the country, and thanks to them, the annual passenger capacity of Indian airports is expected to reach 60 million.
Tourism Australia has witnessed an increase in the number of Indian arrivals from business occasions and meetings, incentives, meetings and exhibitions (MICE). Nishant Kashikar, Country Director for India and the Gulf at Tourism Australia, said: “Our tender fund programme, which supports bids for events from overseas industry, has already secured five major events in India, worth more than A$26 million (nearly US$17 million). “
Tourism Australia has partnered with control companies FCM Meetings and Events India and Singapore Airlines to network with Indian companies.
In 2023, business spending in India grew by approximately 25% year-on-year, while the projected expansion for 2024 is 18%.
Low-cost carrier Akasa Air has announced Prayagraj as the newest destination added to its network. The airline will operate the destination from Mumbai from May 25 this year, it said in a statement. It is the 22nd destination on the Akasa Air network and the fourth. city of Uttar Pradesh in which the airline will operate.
Akasa Air started operations in August 2022 and in the last 20 months has expanded its network to 22 cities. It also started its overseas operations in March this year, connecting Mumbai and Doha with Qatar. Since its launch, the airline has carried 8 million passengers.
Low-cost carrier IndiGo has announced plans to launch direct flights between Chandigarh and Abu Dhabi in the United Arab Emirates (UAE). Thanks to this, IndiGo is expected to operate 63 weekly flights between India and Abu Dhabi, said Vinay Malhotra, director of IndiGo. of global sales.
IndiGo is expanding its operations to maintain its grip on the developing Indian aerospace market. Currently accounting for around 60% of the market in India, IndiGo plans to expand its overseas operations. For the same reason, it partners with other airlines on a code percentage agreement. this month, it signed a percentage code partnership with Malaysia Airlines, adding to its strong list of partners.
JüSTa Hotels and Resorts has announced the opening of jüSTa Hollow Oak in Mussoorie, Uttarakhand. The luxury boutique asset has rooms and is the company’s fourth active in the state.
The company operates boutique hotels and currently has a portfolio of 23 hotels in 10 states. It also has homes in Sariska, Varanasi and Chail this year. For next year, the company is already making plans to open houses in Jawai, Rishikesh and Ayodhya.
Full-service airline Air India has enhanced its visitor service operations by implementing five new touch centres. The centers will offer 24-hour assistance to consumers around the world, the airline said in a statement.
These centers are being set up in Mumbai, Cairo in Egypt and Kuala Lumpur in Malaysia for high-end services, while touch centers in Noida and Bangalore will cater to national demands. The former national carrier recently added a premium counter to cater to the desires of its regular travelers, business and first-class customers.
Air India is in the process of rebranding and reorganization following its acquisition through the Tata Group, as it prepares for its merger with sister airline Vistara. From this, the airline also gained a new aircraft logo and livery last year.
The Skift India Report is your go-to newsletter for all similar news about travel, tourism, airlines, and hospitality in India.
Do you have any sensitive data for Skift? Get in Touch
Tags: air india, air traffic, airArray air passengers, airlines, airport, airports, akasa air, australia, aviation, aviation industry, aviation news, boutique hotels, business events, businessArray business habits, entrepreneurs, corporateArray national recreationalArray domestic tourism, flights domesticarray, hotels, india, departure from india, to india, indian airlines, indigo, indigo airlines, mouse, passenger, report skift india, tourism, tourism australia, trends
Photo credit: Domestic air passenger traffic has seen a 13% increase over last year. Juno Kwon/Pixabay
Are you already a subscriber? Log in
The latest trading news delivered to your inbox every week.