Mumbai: India is the fastest growing domestic air travel market, but in terms of market size it is still nearly five times smaller than China and nine times smaller than the United States, according to an International Air Transport Association (IATA) report.
In 2015, domestic airlines in India flew 81 million passengers, registering a 20% growth over 2014. Growth was driven by low fares and average domestic fares were 15-20% lower in 2015.
In comparison, domestic airlines in China and the United States flew 394 million and 708 million passengers in 2015, with a growth rate of 9.7% and 5.4%, respectively.
“With annual growth of 18.8% (in a market of 80 million domestic passengers), India’s performance surpassed that of Russia (11.9% growth, in a market of 47 million domestic passengers), China (9.7% growth, in a market of 394 million domestic passengers) and the United States (5.4% growth, in a market of 708 million domestic passengers)," IATA said on Tuesday.
06/07/16 Aneesh Phadnis/Business Standard
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In 2015, domestic airlines in India flew 81 million passengers, registering a 20% growth over 2014. Growth was driven by low fares and average domestic fares were 15-20% lower in 2015.
In comparison, domestic airlines in China and the United States flew 394 million and 708 million passengers in 2015, with a growth rate of 9.7% and 5.4%, respectively.
“With annual growth of 18.8% (in a market of 80 million domestic passengers), India’s performance surpassed that of Russia (11.9% growth, in a market of 47 million domestic passengers), China (9.7% growth, in a market of 394 million domestic passengers) and the United States (5.4% growth, in a market of 708 million domestic passengers)," IATA said on Tuesday.
06/07/16 Aneesh Phadnis/Business Standard
