India Daily: Domestic Air Traffic Rose 15 Percent in May 

India’s domestic air passenger traffic was strong in May – 15 percent higher than a year earlier and 8 percent higher than pre-Covid levels, according to ICRA’s monthly report on the country’s aviation industry. The traffic was estimated at 13.18 million for May, 2.3 percent up from April. The growth in traffic comes even as cash-strapped airline Go First suspended its flights on May 3 and is yet to restart operations.Airlines' capacity was higher by about 1.4 percent. The international passenger traffic for Indian carriers for the financial year 2023 stood at approximately 23.94 million, improving from the pre-Covid levels of about 22.72 million. 

Earlier this year, ICRA revised its outlook for the Indian aviation industry to stable from negative, on the back of fast-paced recovery in domestic passenger traffic. Despite a healthy rebound, the domestic aviation industry continues to face challenges due to elevated jet fuel prices. Last week, International Air Transport Association’s Director General Willie Walsh highlighted how India’s high tax structure is a drag on its aviation industry. 

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