ICRA – Indian domestic aviation industry continues steady recovery

The Indian domestic aviation industry continues to witness recovery with air passenger traffic logging around 60% at 13.60 crore in FY23 annually, as per Investment Information and Credit Rating Agency of India Limited (ICRA’s) latest report. The domestic air passenger traffic remained around 4% below the pre-pandemic volume of 14.15 crore, ICRA reported.  The Indian carriers had flown a total of 8.52 crore passengers on local routes in the year ended March 2022, as per ICRA. Suprio Banerjee, Vice President, ICRA said: “Domestic passenger traffic stood at 1.30 crore in March 2023, a growth of around 22% from March 2022