In FY13, Indian aviation industry witnessed a contraction in passenger traffic, due to combination of general slowdown in the economy and high prices of air tickets. The total passenger traffic in FY2013 was l59 million as compared to 162 million in FY2012. Despite the contraction in domestic air traffic, international traffic to and from India has been strong, growing at a GAGR 9% between FY2010 and 2013. According to MoCA, overall air traffic is expected to grow at an annual average growth rate of 10.1percent in this decade. Domestic traffic is expected to grow at 11.4 Percent and international traffic is expected to grow at 9.5percent for the next ten years.
It has been observed that during economic upswing, airline traffic grows roughly around twice the rate of growth of GDP. The following figures display the trend of scheduled passengers and cargo during the last decade. The recession caused by the Global Financial Crisis in 200g has led to a negative growth in both passenger as well as cargo traffic.
In FY13, Indian aviation industry witnessed a contraction in passenger traffic, due to combination of general slowdown in the economy and high prices of air tickets. The total passenger traffic in FY2013 was l59 million as compared to 162 million in FY2012. Despite the contraction in domestic air traffic, international traffic to and from India has been strong, growing at a GAGR 9% between FY2010 and 2013. According to MoCA, overall air traffic is expected to grow at an annual average growth rate of 10.1percent in this decade. Domestic traffic is expected to grow at 11.4 Percent and international traffic is expected to grow at 9.5percent for the next ten years.
It has been observed that during economic upswing, airline traffic grows roughly around twice the rate of growth of GDP. The following figures display the trend of scheduled passengers and cargo during the last decade. The recession caused by the Global Financial Crisis in 200g has led to a negative growth in both passenger as well as cargo traffic.
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