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24.04 - 18:35
India's air passenger traffic records 3-5% negative growth in FY'20: Icra
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MUMBAI : The country's air passenger traffic registered a negative growth of 3-5% in the last fiscal as traffic slowed even before the coronavirus outbreak due to multiple reasons, including closure of Jet Airways, according to rating agency Icra.
The agency, on Thursday said the de-growth was largely driven by higher airfares in the wake of large scale flight cancellations following shutting down of Jet Airways and overall sluggishness in demand.
Jet Airways stopped operations in April last year. A gradual recovery in domestic traffic is expected once the commercial air services are restored while the international traffic would take a couple of quarters to come back to the normal level, the agency said.
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