![]() He also informed that government has tweaked the airplane leasing program to enable airlines to add more aircraft to meet passenger demand, including more 'wet leasing' for domestic and international routes.Īccording to him, as many as 15 Flying Training Organisations (FTOs) are expected to be set up by first quarter of next fiscal year, taking the total number of FTOs to 50. “Now we do not have enough airplanes to fly our passengers,” Scindia noted, adding that domestic airlines are together projected to have a fleet of around 2,000 planes in the next five to seven years. Scindia said the growth potential is even higher as the sector’s penetration is currently at just 4-5 per cent of India’s population base.Ĭalling India “the most important aviation market in the years to come” the minister said it is time for India to look at the manufacturing of aerospace products. Over the past six years, India’s domestic passenger traffic has grown at a compound annual growth rate (CAGR) of around 14.5 per cent, while international passenger traffic has increased by a CAGR of around 6.5 per cent. The soaring passenger traffic, with the latest record being around 4.56 lakh passengers per day, was “not a blip”, rather the demand is robust and the next high season starting in October could break previous records, he projected.ĬAPA India forecasted domestic traffic to rise 20 per cent year-on-year to 160 million in 2024, and international traffic to rise by around 22 per cent to 75 million. Speaking on day one at the three-day CAPA India Aviation Summit 2023, Civil Aviation Minister Jyotiraditya Scindia said the Indian civil aviation sector is seeing sustained robust demand, after making an almost V-shaped recovery from an all-time low during the pandemic. What remains a cause of concern, however, is that over 100 planes (15 per cent of the total fleet) of various Indian carriers are grounded due to supply chain and non-supply chain issues. Indian airlines are estimated to have a net induction of about 132 planes in the next fiscal, which will take the country’s total fleet to 816 aircraft from 684 in March 2023. The full-service carriers are expected to incur a loss of $1.1 to $1.2 billion, while the low-cost carriers can report losses in the range of $0.5-$0.6 billion owing to the high fuel prices and low yields due to significant capacity addition.Īccording to CAPA India, all Indian airlines have collectively placed orders for 1200 aircraft as of March 2023, with Indigo and Air India topping of the list with 500 and 470 aircraft orders, respectively. Indian airlines are projected to record a consolidated loss of $1.6 - $1.8 billion in the next financial year, aviation consultancy CAPA India said on Monday.
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