India’s domestic market growth highest in the world: IATA

Business Economy
(Last Updated On: January 6, 2016)

NEW DELHI: India’s domestic aviation market grew the highest in the world during the month of October, shows International Air Transport Association (IATA) data.

The data shows that revenue passenger kilometers (RPKs) in the Indian domestic passenger market grew by 17.6% followed by China that grew at 12.8%. During the month, Total revenue passenger kilometers (RPKs) rose 7.5%, which was in line with the 7.4% year-over-year expansion seen in September, said IATA.

“There was a wide disparity in results, with Brazil and Australia both showing declines while China, India and Russia posted double-digit increases. Domestic capacity climbed 5.0%, and load factor improved 1.8 percentage points to 82.7%,” IATA said in a statement.

IATA said that the growth in air travel has been stimulated by lower fares, particularly for leisure travel.

“Data for the first 8 months of the year show a 5% fall in average fares in currency-adjusted terms. It is estimated that the fall in fares has supported approximately 3 percentage points of the rise in traffic year-to-date,” it said.

Read full article: Economic Times

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