Indian Aviation: Cruising New Heights

Led by strong domestic demand, favourable government policy and a benign fuel outlook, the Indian aviation industry has emerged as one of the fastest growing aviation market in the world. According to IATA, India’s civil aviation market is set to become the world’s third largest by 2020 and expected to be the largest by 2030. IATA’s estimate is based on the consistent growth being witnessed by the industry. The data from Directorate General of Civil Aviation (DGCA) states that India’s air passenger traffic has registered a growth of at least 16 per cent annually in the last decade. The number of passengers rose from 1.40 crore in 2000-01 to 13.5 crore in 2016. In 2015-16, the number of domestic passengers grew almost 22 per cent, recording a traffic of 13.1 crore passengers. However, IATA feels that the very strong upward trend in traffic has slowed since the country’s unexpected ‘demonetisation’ in November 2016. India’s streak of year-on-year double-digit traffic growth may have ended with June, IATA opined. Read More…

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