Domestic air passenger traffic in India continued to be on the upward trajectory in August with voulmes growing up to 31 per cent over the previous month, credit agency ICRA said on Monday, September 7. In July, the domestic passenger traffic was 51 lakh. However, in August, it grew to 66 lakh.
The average number of daily fliers grew to 220,000 in the week ended September 4, from 204,000 fliers a week before, brokerage firm ICICI Securities said in a report. Meanwhile, the average daily departures increased to 1,970 during the week from 1,950 in the previous week. The number of fliers per departure increased to 111 from 105 in the same period. Domestic passenger traffic on a year-on-year basis, however, spiked around 131 per cent over August 2020 traffic of 28.3 lakh.
Kinjal Shah, vice-president and co-group head, corporate ratings, at ICRA, said that for August, the average daily departures were at about 1,900, higher than the average departures of about 900 in August 2020, and higher than about 1,500 in July 2021, though it remains lower than about 2,000 in April 2021. The ratings agency, however, said that there is continued stress on demand despite recovery visible in the last two months.
The airlines' capacity deployment for August 2021 was around 99 per cent higher at around 57,500 departures, as against 28,834 departures in August 2020.
Other Indicators Of Recovery
Last week, RBI Governor Shaktikanta Das said though the global economy is showing some signs of recovery but the problems aren't over yet. "While there are signs of recovery, we are not yet out of the woods," said Das.
There have been other signs of the economy slowly recovering. India's economy registered a double-digit growth in the first quarter of the fiscal year 2021-22. The country's real gross domestic product (GDP) grew by 20.1 per cent in the April-June quarter of the fiscal year 2021-22, a record and the fastest quarterly growth since the mid-1990s when official quarterly data was available