Indian airlines to carry 50 pct of international traffic by 2028, says Crisil Ratings

7 May 2024 01:51 pm Views - 354

Indian airlines, carrying international passenger traffic originating from, terminating in, or transitioning through India, are expected to witness a surge of 50 percent by fiscal 2028 from the current 43 percent in 2024, according to Crisil Ratings.

As per the rating agency, the improvement would be seen as a result of Indian airlines deploying additional aircraft and adding new routes in the international segment.

The spike would also happen due to the inherent advantage of superior domestic connectivity compared with foreign carriers.

India's international passenger traffic grew to around 70 million in the fiscal year 2024, from a low of 10 million in the pandemic-hit fiscal 2021.

The spike has been more after the pandemic with an increased inclination of Indians for international leisure travel.

According to Crisil Rating, international passenger traffic is expected to register a compound annual growth rate (CAGR) of 10-11 percent over the next four financial years, against a mere 5 percent CAGR in the four years before the pandemic.