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Sunday, August 14 2022
Economy

Domestic air passenger traffic grew 15-16% sequentially in Nov: ICRA

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New Delhi: Domestic air passenger traffic grew 15-16 per cent at around 104-105 lakh in November 2021, compared to 89.85 lakh in October 2021, said ratings agency ICRA.

The same trend reflected on a year-on-year basis with a growth of 64 per cent. Besides, the ratings agency cited that airlines’ capacity deployment for November was around 49 per cent higher than November 2020. On a sequential basis, the number of departures in November 2021 were higher by 12 per cent, as Covid-19 infections demonstrated a downward trajectory.

“Though the recovery continued in November 2021, demand continues to be subdued from the corporate traveller segment as reflected by the passenger traffic being lower by 19 per cent in November 2021 compared to pre-Covid levels,” said Suprio Banerjee, Vice President and Sector Head, ICRA.

“Moreover, the threat of a new variant, which has pushed the resumption of scheduled international operations, has the potential to derail domestic recovery too, if it becomes a source of fresh round of lockdowns or restrictions in the near term,” Banerjee added.

One major concern that ICRA cited was aviation turbine fuel (ATF) prices, which have seen a sharp increase of 67.3 per cent on a YoY basis till December. This is mainly attributed to increase in crude oil prices.

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