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Air Travel: Domestic passenger traffic is estimated to have grown 54 per cent year-on-year in February, but declined by 5 per cent sequentially. Daily departures averaged 2,967, up from 2,044 in February 2022 and 2,900 in January 2023, but down from 3,137 in February 2020. The average number of passengers per flight was 143 in February 2022, up from 139 passengers per flight. According to the rating agency ICRA, this figure has come.
Domestic passenger traffic estimated to be 119 lakhs in February 2023
Supriyo Banerjee, Vice President and Sector Head, Corporate Ratings, ICRA Limited, said, “The domestic aviation industry continues to improve with domestic passenger traffic estimated at 11.9 million in February 2023 as compared to 7.7 million in February 2022. 54% higher in India and only 4% lower than pre-Covid levels. He said that on a sequential basis, it was 5 percent less as compared to 125 lakh in January 2023.
Airlines capacity deployment in February 2023 to be 45% higher than February 2022
He said, “Capacity deployment of airlines in February 2023 was 45 per cent higher than in February 2022. However, it was 9 per cent less than the pre-Covid levels. It is projected that the domestic aviation industry will be 90 per cent in February 2023.” operated at a passenger load factor (PLF) of 85 per cent in February 2022 and 88 per cent in February 2020.
Domestic traffic outlook improved and stabilized
Based on the above facts, ICRA had recently revised its outlook on the Indian aviation industry from negative to stable, due to rapid recovery in domestic passenger traffic and improvement in pricing power. The industry is projected to report a net loss of Rs 110-130 billion in FY2023, but this is much lower than ICRA’s earlier estimated net loss of Rs 235 billion. The industry is expected to report a lower net loss of Rs 50-70 billion in FY2024.
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