The air passenger traffic in the country stood at 23.0 million in March 2017, exhibiting a year-on-year (Y-o-Y) growth of 13% over March 2016. According to an ICRA note, the Y-o-Y growth rate for passenger traffic was 18% in FY2017, while it was 14% and 10% for aircraft traffic and cargo traffic respectively.
A major highlight of the note is the robust trend in the air cargo business. The Y-o-Y growth in air cargo traffic doubled to 18% in March 2017 as against 9% in February 2017. In March 2017, the growth has been driven by improvement in both domestic and international cargo volumes. Moreover, the growth remained well-spread with 18 out of the top 20 airports reporting positive Y-o-Y growth in March 2017. International cargo traffic, which constitutes over 65% of overall cargo traffic, reported significantly higher Y-o-Y growth of 23% as against 11% growth for domestic cargo in March 2017.