Outlook for India's aviation industry remains stable, according to report from #ICRA.
NDTV Profit’s Post
More Relevant Posts
-
Happy International Civil Aviation Day! On this occasion the International Air Transport Association (IATA) predicts to increase in #sustainableaviationfuel (#SAF) production, doubling to over 600 million litres in 2023 and further rising to 1.875 billion litres in 2024 in an effort to accelerate the #decarbonization efforts of #aviationindustry. So far about 43 #airlines globally have committed to #SAF, accounting for around 13 million tonnes of fuel use by 2030. On another positive note, #IATA raised its #profitoutlook, expecting #airlines to post $23.3bn in net earnings in 2023, more than double the $9.8bn it forecast in June and expecting to carry a record 4.7 billion passengers in 2024, an historic high that exceeds the #prepandemic level of 4.5bn recorded in 2019. Interestingly this performance will be driven by countries like #India, with domestic performance surpassing international traffic, #IATA adds. On a positive front for India, #IATA expects India to become the most exciting civil aviation market on a global level due to robust #government investments in #airportinfrastructure. Willie Walsh adds: "I think India is the #market for the future. I will be very optimistic about its growth. Potential growth in #India is going to make it a very exciting market." Government of India NITI Aayog Official Narendra Modi Jyotiraditya M Scindia Airport Authority Of India MRO Association of India Rohit Tomar Seema Vedak Veena Chawla Rinaldo Rhine #airtravel #safetravel #COVID19pandemic #passengerdemand #passengerfootfalls #airportraffic #revengetravel #leisuretravel #businesstravel #toursandtravels #businesstravel #aviationrecovery #aftermarketrecovery
Airlines Expect Record 4.7 Billion Passengers In 2024: Aviation Body
ndtv.com
To view or add a comment, sign in
-
📈 Impressive Growth: Indian domestic aviation soars! ✈️ Passengers carried by domestic airlines surged by 38.27% from Jan to Aug 2023. August alone saw a 23.13% increase. 🇮🇳 This robust recovery showcases India's resilience in air travel. #AviationGrowth #PassengerSurge 🌟 https://lnkd.in/eWwsgp3Q
Indian Aviation Soars High in 2023
http://thefledge.co.uk
To view or add a comment, sign in
-
The boom of India's domestic aviation is likely to continue in 2024-25 with air traffic expected to rise by 8-11 per cent in the ongoing financial year to reach around 418 million passengers, rating agency ICRA said in its latest presentation. Check out here for full story : https://lnkd.in/gGq-njTA #IndiaAviation #AirTrafficGrowth #ICRA #TravelTrends #AviationIndustry #PassengerGrowth #2024Forecast #AviationBoom #IndiaTravel #DomesticFlights #AviationNews #TravelIndustry #bizzbuzz #bizzbuzznews
Indian domestic aviation industry is bound to expand
bizzbuzz.news
To view or add a comment, sign in
-
Why is the aviation scene so hot in India? 🇮🇳 Just because the Indian Railways carry a year's air traffic in one day. More insights from Akasa Air's co-founder Aditya Ghosh. ✈️ #Aviation #India #AkasaAir #AirTravel #IndiameansOpportunity
Railways carry a year's air traffic in one day: Akasa Air co-founder Aditya Ghosh
businesstoday.in
To view or add a comment, sign in
-
The local aviation industry has been in turmoil for some years now. From the ravages of the COVID-19 pandemic that disrupted travel globally, to the current high cost of aviation fuel and other materials, to the high cost of aircraft acquisition as a result of interest costs that are as…
Consolidation, a way out in aviation industry - Daily Trust
https://dailytrust.com
To view or add a comment, sign in
-
Highlights from China's Q1 2024 Aviation Report - Passenger flights surpass 2019 levels: Air China increased by 21.6%, Spring Airlines by 29.8%, Loong Air by 68.2%, and Chengdu Airlines by 80.2%. - Top ten domestic routes experienced double-digit growth compared to 2019, with Beijing-Shenzhen, Beijing-Chongqing, Beijing-Guangzhou, Beijing-Hangzhou, and Shanghai-Chengdu routes showing over 30% growth. Beijing-Chengdu route increased by 48.3%. - Q1 passenger transport volume reached 177 million, a YoY increase of 37.7% and a 10.2% growth compared to 2019. Domestic passenger transport grew by 15% to 161 million. - International and regional passenger transport reached 16 million, recovering to 77.7% of 2019 levels. Monthly transport volumes exceeded 7%, 16%, and 7% of 2019 levels in January, February, and March, respectively. - Top three airlines in passenger transport were China Southern, China Eastern, and Air China, accounting for 44% of the industry with 30 million, 27 million, and 21 million passengers, respectively. - Q1 cargo transport volume reached 2.01 million tons, a 34% YoY increase and a 20% growth compared to 2019. Aircraft utilization recovered to 95% of 2019 levels with an average passenger load factor of 98%. Narrow-body, wide-body, and regional aircraft achieved load factors of 83.1%, 81.6%, and 74.6%, respectively. - OTP improved to 91.4%, a 1.4% YoY increase. International flight volume increased by 19.7% QoQ, with a recovery rate of around 70%. Southeast Asia remained popular with a 41.6% share but had a relatively lower recovery rate of 62.5%. Central Asia, Africa, and Western Asia surpassed 2019 levels by 29.2%, 20.1%, and 10.3%, respectively. North America had the lowest recovery rate at 17.7%. - Airlines achieved improved financial results, with a profit of 2.46 billion CNY in Q1, a YoY turnaround of 9.51 billion CNY. Sixteen airlines reported profits, with 23 airlines profitable in February due to the Spring Festival travel season. Passenger revenue rebounded significantly, with revenue per passenger kilometer increasing by 6.4% and 38% in January and February, respectively. Cargo revenue declined by approximately 11% compared to the previous quarter. #CHINA #AIRLINES #AVIATION #MARKET #PAX #CARGO #2024 #Q1 #2019 #2023 #INTERNATIONAL #DOMESTIC #ROUTES #LOADFACTOR #ASK #CTK #OTP #CAAC #CCAR #SCHEDULE #CHARTER #BSA #BELLY
To view or add a comment, sign in
-
The domestic traffic rose from 60 million in 2014 to 143 million in 2020 and is expected to have crossed 150 million in 2023. As the number of airports have also doubled from 74 in 2014 to 149 at present and with many government initiatives like UDAN, the government agencies are optimistic of even stronger performance from the aviation sector! #aviationindustry #2024trends #growth #IndiaTravel
Indian Aviation Market Is Under-Served, Says Minister: India Report
skift.com
To view or add a comment, sign in
-
Co-Founder and Director at HyFlux, and myMaskFit | MBA | BEng | 2024 Uplink World Economic Forum Top Innovator
‘Demand for the industry’s biggest jets is soaring after a prolonged downturn following the coronavirus pandemic, which severely dented long-haul travel. Much of the demand is expected to be driven by Middle Eastern airlines over the next two decades. Boeing is forecasting that wide-body aeroplanes for long-haul travel will make up 45 per cent of deliveries to the region over the next 20 years — the highest regional percentage worldwide — as it expands into an international transit hub. The US group projects delivery of 3,025 new commercial aircraft in the Middle East by 2042, including 1,350 wide bodies. “The big Gulf carriers continue to believe strongly in the superconnector model and therefore anticipate some growth,” said Edmond Rose, an aviation consultant who works in the region. “If you believe there is going to be growth in air travel because of global economic expansion then those Gulf carriers are still going to be well placed to pick up some of that.” Middle Eastern airlines are forecast to grow over the next two years, and reach 115 per cent of pre-pandemic capacity by 2025, a stronger recovery than any other region, according to the International Air Transport Association, a trade body. Regional profitability is forecast at $9.41 net profit per passenger this year, in line with the US and more than double that of European carriers. Beyond the Middle East, Boeing won an order for 90 of its narrow-body 737 Max jets from Turkey’s SunExpress, while European rival Airbus reached an agreement in principle with Turkish Airlines for what it said was a “significant commercial aircraft order”, understood to be for as many as 355 jets. Airbus also agreed a follow-on order for 30 of its A220-300s single-aisle jets with Latvian carrier airBaltic. Industry analysts said they expected more orders to come at Dubai this week as airlines jostle to lock in delivery slots from both Boeing and Airbus. Airlines are having to replace older aircraft in their fleets as well as place orders to support future growth, said Stuart Hatcher, chief economist at consultancy IBA, who predicted significant deals at the show. Order backlogs for the two plane makers are at record highs, totalling more than 13,900 aircraft to the end of October, according to data from Cirium, the aviation consultancy.’
Middle Eastern carriers place orders worth tens of billions of dollars
ft.com
To view or add a comment, sign in
-
Unbundling travel with Spotnana, enabling innovation with multiple startups - TravelTopia speaker, Copenhagen Goodwill Ambassador
Fascinating insight in the world of aircraft production and hence overall capacity growth in the aviation sector - one numbers stands out to me in this article written produced by Simon Elsegood and CAPA - Centre for Aviation There is currently 15,993 new airplanes in the order books for the aircraft makers, and it will take an estimated 12.6 years to produce and deliver these aircrafts - so logically any new order for planes placed today will take a while to fulfill I don't know how many planes will be retired during the 12.6 years it will take to deliver the new planes, but if we assume a 50% retirement ratio that means just under 8,000 additional planes will roam the skies in 12 years time - that seems like a substantial increase in CO2 emissions if you assume they each fly the industry average of 8 hours per day It also means that if we want to start reducing the overall impact from carbon emission in the aviation industry, we first have to produce enough SAF to compensate for this overall growth - and then we can talk about actually reducing emission levels afterwards - the challenge is massive and hopefully politicians will react soon and increase the overall investments in both SAF and other alternative engine technology research projects, because it is #timeforgreentravel everywhere
For at least the next two years, aviation will be supply-constrained rather than demand driven Global airline seat capacity finished 2023 at 99% of 2019 levels. Given that barely 18 months ago in 2022 global seat capacity was at a mere 50% of historic levels, this return to near normality is a remarkable achievement Simon Elsegood, Head of Research at CAPA - Centre for Aviation has more: https://bit.ly/3w9lfrW #Aviation #travel #airtravel #capacity
For at least the next two years, aviation will be supply-constrained rather than demand driven
centreforaviation.com
To view or add a comment, sign in
-
✈️ Surging demand for passenger air travel benefited all air travel markets and regions in 2023, but many airlines were unable to mount their planned responses. Learn more about the industry’s prospects in PwC Ireland's 2024 Aviation Industry Review & Outlook. #Aviation #Aircraft
2024 Aviation Industry Review & Outlook
pwc.smh.re
To view or add a comment, sign in