Number of people flying by plane increased by 23 percent in August, surpassing the pre-Covid figures
Domestic air passenger traffic: Credit rating agency ICRA reported in the report that the number of people flying domestically in August has increased by 23 percent to 1.24 crore. Like previous years, the trend of increase in the number of passengers may continue this year too. The price of ATF may also decrease this year on an annual basis.
The number of people traveling by air in India has been increasing rapidly and has now even crossed the pre-Covid level. The number of people flying domestically in August has increased by 23 percent to 1.24 crore. Before Corona, in August 2019 this figure was 1.18 crore. This information has been given in the report of a rating agency.
Credit rating agency ICRA reported that the number of passengers flying by air in the month of July was 1.21 crore with an increase of 3.2 percent. Also said that this year the capacity has been increased by 10 percent as compared to August 2022. This is one percent less than the pre-Covid level i.e. August 2019.
It was told by the rating agency that the aviation industry will remain stable for now. Domestic air traffic witnessed a sharp recovery last financial year and it is expected that this trend will continue this financial year also.
Apart from this, it was told in the report that at present the airline industry is going through a phase of pricing power. Well yields and earnings per kilometer and cost per kilometer vary by airline. At the same time, the price of ATF is also expected to decrease on an annual basis this year.
The report further said that airlines may incur a loss of Rs 3000 crore to Rs 5000 crore in the financial year 2023-24. At the same time, a sharp increase in the number of passengers may be seen during this period.