The airways’ capability deployment final month was increased by 14% year-on-year and round 7% greater than pre-COVID degree of March 2019, ICRA stated. (Representative picture)
In FY23, the general airways’ capability deployment was increased by 38% as in comparison with FY22, he stated.
The home aviation trade continues to witness restoration with air passenger site visitors logging round 60% progress at 13.60 crore in FY23 yearly, credit standing company ICRA stated.
The Indian carriers had flown a complete of 8.52 crore passengers on native routes within the yr ended March 2022, as per ICRA.
Despite this, home air passenger site visitors remained round 4% under the pre-pandemic (FY20) quantity of 14.15 crore, the company stated.
“Domestic passenger site visitors stood at 1.30 crore in March this yr, a progress of round 22% from March 2022 quantity of 1.06 crore,” news agency PTI quoted Suprio Banerjee, vice president, ICRA, as saying.
In FY23, the overall airlines’ capacity deployment was higher by 38% as compared to FY22, he said.
The airlines’ capacity deployment last month was higher by 14% year-on-year and around 7% more than pre-COVID level of March 2019, ICRA said.
The domestic passenger load factor of the airlines industry, according to ICRA is estimated at 89% in March 2023, against 82% in the year- ago period and 87% in March 2019 (pre-COVID levels).
Despite a healthy recovery in passenger traffic, the domestic aviation industry continues to face challenges on account of elevated aviation turbine fuel prices and depreciation of the rupee against the US dollar, both of which have a major bearing on the airlines’ cost structure, it added.
The airlines’ efforts to ensure fare hikes proportionate to their input cost increase will be key to expanding their profitability margins, Banerjee added.
(With PTI inputs)
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