Air traffic to grow 20% in FY24 as Indian carriers add 132 aircraft: Report

Turbine fuel cost and declining yields to put pressure on airlines, says CAPA India

Domestic and international passenger traffic will grow more than 20 per cent in FY24, driven by fleet addition as Indian airlines lose $1.6-1.8 billion due to a weak rupee and fuel costs increasing, said an industry consultancy on Monday.

Indian airlines are expected to add 132 aircraft in FY2024 to tap passenger demand. Air India is expected to induct 53 aircraft and IndiGo will add 49 aircraft, said CAPA India in its annual outlook. The combined fleet size of Indian carriers will increase from 684 at the end of March 2023 to 816 by March 2024.

Domestic traffic will increase