India’s passenger traffic to increase by 70% in 2022-23: ICRA

Ratings agency ICRA Ltd expects India’s total passenger traffic to increase by 68-70 per cent on-year to 317-320 million in 2022-23, with domestic air passenger traffic expected to rise 64-66 per cent on year in the upcoming financial year.

International air passenger traffic is also expected to grow 100 per cent in 2022-23 when compared to 2021-22 and surpass even pre-COVID levels of 2019-20.

The rating agency said that in the current financial year, 2021-22, India’s total passenger traffic is estimated to increase by 62-64 per cent on-year to 187-189 million, despite the outbreak of two waves of COVID-19.

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