Singapore: The International Air Transport Association (IATA) performed a market analysis over the past few weeks. It was concluded that India is emerging as a key factor in the Aviation Industry. The reports said that the Indian Aviation Industry is about to reach the same level as it was before the pandemic, as the pandemic affected the Passenger Revenue Kilometres.
Since February, the growth in the Indian Aviation sector has been increasing, and it is just 2.2% away from reaching the pre-pandemic levels. The Indian Domestic Passenger Market also increased significantly, overtaking major countries like China, US, and Japan.
In the previous four months, the domestic market growth has helped India to be at the top of the leaderboard. The reports said that “Asia-Pacific airlines had a 378.7% increase in February 2023 traffic as compared to February 2022, maintaining the very positive momentum of the past few months since lifting of travel restrictions in the region. Capacity rose 176.4%, and the load factor increased 34.9% to 82.5%, the second highest among the regions.”
The reports also revealed that around 35-40 million Indians fly annually, making India’s contribution to the Aviation sector.