The expansion of routes by domestic airlines has enabled Indian aviation industry to sustain double digit growth in passenger traffic for 43rd straight month. In March, the industry recorded a 27.9% growth rate in domestic air traffic as against the average global domestic demand of 7.8 % in the earlier month.
Also, the domestic aviation industry reported a load factor of 87.8% which is the highest among seven leading aviation markets globally as per the claims made by International Air Transport Association (IATA). IATA collates information on traffic of seven main aviation markets including the US, China, Japan, Australia, Russia, India and Brazil on a monthly basis.
As per the IATA release, passenger growth in the domestic market has got a boost both from the network and strong economic growth. And from 22.9% in February, the double digit growth has sustained with an increase in passenger demand to 27.9% in the March month.
In comparison to the seat factor recorded for the corresponding month last year, the domestic market also reported a 6.7% higher load factor. The seat factor measures the average percentage of seats occupied in an aircraft or the passenger carrying capacity utilized by the airline.
Also, as per the data, the airtraffic both the domestic and international destination grew at the highest rate of 9.5% in 12 months time.
IATA's director general and chief executive officer Alexandre de Juniac is quoted as saying in the PTI report, Demand for air travel remains strong, supported by the comparatively healthy economic backdrop and business confidence levels. But rising cost inputs, particularly fuel prices, suggest that any demand boosts from lower fares will moderate going into the second quarter".
While the demand in the domestic market declined to 7.8% in comparison to 8.2% recorded in February, the international passenger demand rose to 10.6% during the month.
The first quarter provides a healthy growth outlook in the sector which is now heading into the peak travel season.
With PTI Inputs