Further, the rising demand in the sector has pushed the number of airplanes operating in the sector. The number of airplanes is expected to reach 1, planes by IndiGo signed an agreement to investigate the possibility of using sustainable fuel in planes in July Rare Enterprises, in partnership with former CEOs of IndiGo and Jet Airways, plans to start an ultra-low-cost airline to capitalise on the domestic air travel demand in With the right policies and relentless focus on quality, cost and passenger interest, India would be well placed to achieve its vision of becoming the third-largest aviation market by The expenditure of Indian travellers is expected to grow up to Rs.
Due to rise in demand in air travel, India will need 2, new commercial airplanes by Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same. Introduction The Indian food processing industry has a wide variety of The Govern Government e- Marketplace GeM With swift rise of digitalisation, governments worldwide are incorpo Enjoy FREE subscriptions downloads, updates and more.
Already a member? The estimated number of directly employed personnel in the aviation and aeronautical sector was more than two lakh as on March 31, Aviation regulator DGCA has suspended operations of scheduled international commercial passenger flights to and from India till August 31 but overseas services under Vande Bharat Mission and Air Bubbles are operational.
He also said that presently, Canada and Bangladesh have temporarily suspended flights from India under the Air Bubble arrangement. Like us on Facebook and follow us on Twitter. Financial Express is now on Telegram. Click here to join our channel and stay updated with the latest Biz news and updates. Have you read these stories? ET NOW. Brand Solutions. Video series featuring innovators. ET Financial Inclusion Summit. Malaria Mukt Bharat.
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ET Markets Conclave — Cryptocurrency. Reshape Tomorrow Tomorrow is different. Let's reshape it today. Corning Gorilla Glass TougherTogether. ET India Inc. ET Engage. ET Secure IT. The aviation industry is expected to witness a strong year-on-year growth of per cent in domestic air passenger traffic and per cent in international air passenger traffic during , according to ICRA.
It will, however, be achieved on a lower base of the previous fiscal year and driven by the faster pace of vaccination and gradual relaxations in restrictions by the regulatory authorities. However, the growth will still be significantly lower than the and levels, and the industry is expected to report a higher net loss in , said ICRA. Elevated ATF prices higher by 71 per cent Y-o-Y in the five months of FY and fare caps continue to pose a challenge for the profitability of the airlines, she noted.
The recovery in domestic air passenger traffic is contingent on pace of vaccination, willingness of consumers to undertake leisure travel, recovery in macroeconomic growth, which in turn impacts consumer sentiments and the ability to travel.
Besides, developments related to central and state government-mandated travel restrictions and quarantine norms, and recovery in business travel will also decide the pace of recovery, ICRA said.
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