Mumbai, Mar 7: Despite facing supply chain challenges and engine failures, Indian aviation industry is set to scale new heights in the coming years, according to a recent report by ICRA, a leading credit rating agency.In its report, ICRA estimated a remarkable 8-13 per cent increase in domestic air passenger traffic for the fiscal year 2024, surpassing pre-COVID levels.
“This growth momentum is expected to continue into FY2025, driven by rising demand for both leisure and business travel, coupled with improving airport infrastructure,” as per report.
Moreover, international passenger traffic for Indian carriers is expected to rebound strongly, with estimated year-on-year growth rates of 7-12 per cent for FY2024 and FY2025, surpassing pre-pandemic levels.