India's Air Traffic Growth Rate Slips
In a statement, IATA said, “The year 2019 was challenging for the Indian aviation industry. After registering double-digit growth for four consecutive years, the Indian aviation industry has registered a sharp decline. Due to airline company Jet Airways going bankrupt and the weakening economy, the Indian aviation industry fell to 5.1% in 2019, whereas in 2018, a growth of 18.9% had been registered.” IATA represents 290 airline companies across the world; their share in global air traffic is 82%. This organisation reveals the state of airline passengers worldwide. In its report last year, IATA had said that India has maintained its status as a rapidly-growing aviation industry for the fourth consecutive year. According to statistics, between the years 2015 and 2018, India saw the highest growth rate in the aviation industry in the world. The growth rate of the Indian aviation industry was registered as 20.3% in 2015; 23.2% in 2016; 17.3% in 2017, it was 17.3% and in 2018, it was 18.6%. But in 2019, it reduced to 5.1%. This decline shows that the future of the Indian aviation industry could be full of challenges. The Union Civil Aviation Ministry had started a flight scheme in April 2017 to increase regional connectivity. The aim of this scheme was to improve air connectivity and make air travel cheaper for common people. But due to the downturn in the Indian aviation industry, this scheme has also suffered a major blow.
#IndianAirlines’ four years of double-digit demand growth came to a halt in 2019, as traffic rose 5.1%, down from 18.9% in 2018. The bankruptcy of @jetairways and weakening economic activity are the main culprits of the #EconomicSlowdown@ShahnawazMalik_ pic.twitter.com/ftQQkpLuxN— GoNewsIndia (@GoNews_India) February 8, 2020