Active Stocks
Thu Mar 28 2024 15:59:33
  1. Tata Steel share price
  2. 155.90 2.00%
  1. ICICI Bank share price
  2. 1,095.75 1.08%
  1. HDFC Bank share price
  2. 1,448.20 0.52%
  1. ITC share price
  2. 428.55 0.13%
  1. Power Grid Corporation Of India share price
  2. 277.05 2.21%
Business News/ Companies / Domestic air passenger growth down to 11.2% in Jan-Mar period
BackBack

Domestic air passenger growth down to 11.2% in Jan-Mar period

Domestic air passenger growth down to 11.2% in Jan-Mar period

Premium

PTI

New Delhi: Higher airfares coupled with increased fuel surcharges have pulled down the domestic air passenger growth significantly to 11.2% in the first quarter of the current year.

In March alone, the domestic fares and fuel surcharges surged by 10% putting higher pressure on the growth rate, a recent report by the Centre for Asia Pacific Aviation said.

The report, covering emerging markets of Asia like China, Indonesia and India, sounded a warning for the aviation industry in the continent saying the current year would achieve a lower growth than the last few years.

“Whether it is a spill-over from the US or the impact of rising costs of travel, or a combination of the two, it is clear Asia’s big emerging air travel markets will have a soft year," the report stated.

However, the report is in contrast to a recent American Express study, which pointed out the average domestic airfares in the country were down by 9% in the first quarter of the on-going calender year against the corresponding quarter of 2007.

The American Express study also mentions the average fares in the Asia-Pacific region marginally went up by 1% in the quarter.

Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!

Catch all the Corporate news and Updates on Live Mint. Download The Mint News App to get Daily Market Updates & Live Business News.
More Less
Published: 09 May 2008, 04:37 PM IST
Next Story footLogo
Recommended For You
Switch to the Mint app for fast and personalized news - Get App

Chat with MintGenie