India`s air passenger traffic likely to see healthy growth of around 8-11% in FY25: ICRA
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Rating agency ICRA in its latest report has said that air passenger traffic in India is expected to see a healthy growth of around 8-11 per cent year-on-year to around 407-418 million in FY2025, 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.
According to the report, Indian airport operators' revenue is anticipated to grow 15-17 per cent on an annual basis in the current fiscal ending March 2025. It said surpassing the pre-Covid level by 10 per cent, the traffic reached 376.4 million in the fiscal ended March 2024.
The report further said the recovery in the Indian airport passenger traffic is one of the best compared to other major global counterparts. India accounted for 4.2 per cent of the global passenger traffic in CY2023, and its share in passenger traffic has improved from 3.8 per cent in CY2019. It noted that while the global passenger traffic recovered to just 96 per cent of global passenger traffic in CY2023, the Indian airport passenger traffic revived to 106 per cent of the pre-Covid level owing to strong economic growth as well as the addition of new airport routes. It added that the Indian air passenger traffic is expected to outperform the global trend.
