Chennai, Dec 1:
In a recent report, aviation advisory and research firm CAPA India have projected a robust growth of
approximately 15% in India’s air traffic, reaching 155 million passengers during the fiscal year 2023-24.
This optimistic forecast aligns with the firm’s earlier estimate in March 2023, despite the unexpected
grounding of Go First earlier this year.
The report highlights the resilience of domestic air traffic in India, even with over 150 aircraft still
grounded due to supply chain issues and other challenges. The advisory firm notes that the number of
grounded aircraft could potentially exceed 200 by the end of March 2024, leading to a shortage of
parking bays and exacerbating parking challenges across the country.
India’s international air traffic has also exhibited growth in line with CAPA’s guidance, with an anticipated
year-end figure of around 70 million passengers. Despite the challenges faced by the aviation industry,
overall profitability is expected to align with CAPA’s initial projection of a USD 1.648 billion loss. Full-
service carriers are estimated to account for USD 1.4-1.5 billion of this loss, while low-cost carriers are
expected to incur losses in the range of USD 200-300 million.
