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According to the International Air Transport Association (IATA) in the next 10 years, India is expected to overtake the United States and China and will become the world’s 3rd largest air passenger market. The passenger traffic of India stood at 131.62 million in FY22 (from April-December 2021). International Passenger and Domestic Passenger traffic has declined at a CAGR of -9.02% and -28.64%, from FY16 to FY21 due to the restrictions related to the COVID 19 on flights in FY21. Domestic passenger traffic was estimated to be 105.2 million in FY21, down 61.7 percent year on year, and foreign passenger traffic was estimated to be 10.1 million, down 84.8 percent year on year, according to Indian airports. The average daily domestic passenger flight departures were greater than 5,857 in October 2021, with an average daily domestic traffic of greater than 7,00,000 air passengers.
- Raghu Vamsi planned to build a 15 million US$ facility in Hyderabad for meeting Boeing’s needs as of August 2021.
- An agreement has been signed by IndiGo for investigating the possibility of using sustainable fuel in the planes in July 2021.
- Also, in August 2021, Spicejet has introduces 16 new flights.
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