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Monday, 15 May, 2017, 10 : 00 AM [IST]

Air passenger traffic records 13% y-o-y growth in March 2017: ICRA

The air passenger traffic in the country stood at 23 million in March 2017, exhibiting a year-on-year (Y-o-Y) growth of 13% over March 2016. According to an ICRA note, the Y-o-Y growth rate for passenger traffic was 18% in FY2017, while it was 14% for aircraft traffic. 

Commenting on the development, Harsh Jagnani, Vice President & Sector Head for Corporate Ratings, ICRA Limited, said,“Although there has been some moderation, as compared to 14% growth witnessed in February 2017, the Y-o-Y air passenger growth has remained healthy at 13% in March 2017. This is primarily on account of a marginal drop in domestic traffic growth, which constitutes 78% of the passenger traffic in the country and has reported a 15% Y-o-Y growth in March 2017 as against 16% growth in February 2017.”

Overall, during FY2017, the Y-o-Y passenger growth has remained robust at 18%, driven primarily by the healthy domestic traffic, which exhibited a strong growth of 22% over FY2016. In line with passenger traffic, the aircraft traffic also reported a healthy Y-o-Y growth of 13% in March 2017 and 14% for FY2017. The growth remained broad-based with 18 out of the top 20 airports exhibiting Y-o-Y increase in passenger traffic in March 2017.
 
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