Ratings agency ICRA in its latest report has said that India's domestic passenger traffic slipped to a 10-year low at an estimated 53.4 million in the just-concluded financial year (FY21). However, it said in the previous fiscal there were no passenger flight operations for almost two months due to the pandemic-induced lockdown.
According to the report, during the financial year 2010-11, all domestic air operators together had flown a total of 53.8 million passengers on local routes. The domestic passenger traffic in March 2021 has been estimated at around 77-78 lakh, a marginal decline of about 1 per cent over February during which airlines had flown around 78.30 lakh passengers. For FY2021 (May 25, 2020 till March 31, 2021), domestic passenger traffic has been pegged at around 53.4 million, a year-on-year decline of about 62 per cent over the fiscal ended March 31, 2020, in line with ICRA's estimates.
The report further said domestic passenger traffic in March 2021 has been estimated at around 77-78 lakh, implying a flat growth on a y-o-y basis on a low base of March 2020 (which had witnessed a y-o-y decline of 33.1 per cent in domestic passenger traffic) as domestic travel was affected with effect from March 25. Domestic passenger traffic witnesses a flat year-on-year growth in March 2021 owing to low base and the recent spike in cases poses challenge for sector's recovery.