Domestic air passenger volume increased 3 per cent to 23.4 million in November on a sequential basis propelled by resilient travel demand and onset of the peak holiday season, credit ratings agency Icra said on Thursday. However, it remained 7 per cent lower compared to the corresponding month of the pre-pandemic period, it said.
Overall, the recovery in domestic passenger traffic has been strong since April this year, supported by easing of travel restrictions, resilient passenger demand, reopening of offices, and increase in business and leisure travel, Icra said.On a year-on-year basis, passenger traffic grew 13 per cent in the previous month, as per Icra.
Post resumption of international commercial operations from March 27, international air passenger traffic has steadily increased and reached 81 per cent of pre-Covid levels in November, at 4.9 million in the month, growing 3 per cent sequentially, it stated.Overall passenger traffic (including international) stood at 28.3 million, 3 per cent higher month-on-month, Icra said.
“Passenger traffic is expected to sustain the healthy growth momentum backed by the onset of the peak season along with the resumption of business travel.”With a strong rebound and healthy momentum in domestic passenger traffic and the uptick in international passenger, the overall air passenger traffic is expected to grow by 71-73 per cent and reach 324-327 million (95-96 per cent of pre-Covid levels) in FY2023,” said Vinay Kumar G, Vice President, Corporate Ratings at Icra.Icra expects overall domestic passenger traffic to reach 97-98 per cent of pre-Covid levels (FY20) in FY23 and international traffic to reach 87-90 per cent of pre-Covid levels by end-FY23.