Aviation’s growth trajectory:  Indian carriers are expected to have an order book for 2,000 planes by March next year, with long-term rapid growth for both domestic and international air traffic, as per aviation research and consulting firm CAPA India report. The domestic airlines currently have an order book for close to 1,620 aircraft, including the 150 narrow-body Boeing 737 Max order announced by Akasa Air on Thursday, CAPA India report added. 

With the culmination of FY2024, CAPA India has revealed its preliminary figures for actual full-year traffic stating that domestic traffic reached an estimated 153.4 million passenger, compared with its projection of 160 million at the start of the year, and 155 million in its mid-year update. As per a CAPA release, international traffic reached an estimated 69.7 million passenger, compared with its projection of 72- 74 million at the start of the year, and 70 million in our mid-year update.

“Both domestic and international traffic volumes exceeded their pre-COVID highs (which were actually set in FY2019) for the first time,” said the CAPA India report. 

“We are pleased to say that we have continued our 21-year track record of accurately projecting demand and financial performance, over short, medium and long-term horizons, even in the most complex and uncertain environments,” the CAPA India report further added. Actual traffic was within 4.5 per cent of our original forecast, and within 1.0 per cent of our mid-year guidance, the aviation report added. 

In March 2023, CAPA Advisory released its annual FY2024 outlook for Indian aviation, providing guidance on traffic and financial projections and critical industry issues for the year ahead.

Each year, CAPA India release a mid-year update. In October 2023 CAPA India revised downwards its full- year projections due to continuing supply chain issues that resulted in an elevated number of aircraft on the ground, as well as the unexpected grounding of Go First in May 2023.

(With PTI inputs)