Even as a rising crude oil bill has once again pushed airlines into the red over the last two quarters, air passenger traffic in the country has been growing strong and steady. This is in continuation of a trend seen over the last 24 months, where an uptick in the economic climate has translated into a growing number of Indians taking to the skies.
Consider this: Total air passenger traffic in the domestic market was around 41 million in calendar 2008; it exceeded the 51-million mark in 2010, and at current levels of traffic may touch 60 million in the current calendar. Monthly passenger traffic exceeded the 5-million mark for the first time in December 2010, and has been above this level for two consecutive months in May 2011 and June 2011.
At present, India is among the fastest growing aviation markets in the world. After a sharp 9.5 per cent decline in domestic traffic in the first half of calendar 2009 due to the knock-on effects of the global recession, the number of Indians taking to the skies has seen a strong revival. Passenger traffic in the domestic skies grew at 24.7 per cent year-on-year in the second half of calendar 2009, at 19.2 per cent in calendar 2010, and at a lower but still quite healthy 17.3 per cent in the first six months of the current calendar.
20/08/11 Business Line
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