India's Air Traffic Growth Rate Slips

by GoNews Desk 2 weeks ago Views 1495
India's Air Traffic Growth Rate Slips
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The honour of being the fastest-growing civil aviation industry in the world for four consecutive years could be snatched from India. The International Air Transport Association (IATA), an organisation which monitors the airline business across the world, said that the future could be full of challenges for the Indian aviation industry.

The pace of growth of the Indian aviation industry, which registered double-digit growth for four years, has slackened. While the industry saw a growth rate of 18.9% in the year 2018, in 2019 it fell to just 5.1%. 

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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.