Saturday, June 03, 2017

Russia overtakes India in domestic air travel growth: IATA

New Delhi: India is no longer the world’s fastest growing domestic air travel market. Russia overtook India by witnessing 16.7% growth in April 2017, over the same month last year, while India grew in this period at 15.3%, according to International Air Transport Association (IATA). The global average domestic air travel growth rate this April (over the same month last year) was 7.7% and in the new pecking order, India is at number two followed by China at 12.7%, Japan at 6.7% and the US at 4.7% ..
India’s domestic air travel has been booming due to low crude prices, which in turn allowed airlines here to offer cheap airfares. But in the past two months as crude firmed up, airfares also rose and the domestic skies started becoming a tad less crowded in terms of growth slowing down.
Exactly two months ago, in March, IATA had said that India had been the world’s fastest growing domestic air market for 22 months in a row. This meant that till March, India saw the highest growth in domestic air travel over the same month in the previous year for almost two years.
03/06/17 Saurabh Sinha/Economic Times