IATA’s January data shows India continues to be one of the fastest growing markets in the world
India’s aviation market reported its 41st consecutive month of double-digit traffic increase, with a 17.9 percent rise in January. The country’s domestic market continued to be among the fastest growing in the world.
Data released by International Air Transport Association (IATA) shows that capacity (measured in available seat kilometers) rose by 16.7 percent in India, again among the fastest.
On the other hand, globally the domestic traffic climbed 5.1 percent in January year-on-year, down from 7 percent growth recorded in December, IATA said in a release.
“The slowdown is entirely attributable to the later Lunar New Year holiday period in 2018. All markets showed growth, led by India,” said the industry body.
The country also led in passenger load factor, which measures capacity utilization. The Indian domestic market had a PLF of 89.1 percent.
“Despite the slower start, economic momentum is supporting rising passenger demand in 2018. That said, concerns over a possible trade war involving the US could have a serious dampening effect on global market confidence, spilling over into demand for air travel,” said Alexandre de Juniac, IATA’s Director General and CEO.Among others, China’s traffic grew by 6.6 percent, and that in Russia’s domestic market saw a 7.9 percent rise.