New Delhi: India slipped to the fourth spot in domestic air passenger traffic in August with passenger volume growing only 3.7 per cent while the global demand for domestic travel climbed 4.7 per cent, as per the report of International Air Transport Association.
The economic slowdown is primarily being blamed for this slip. The report came on the day Moody’s Investors Service slashed 2019-20 GDP growth forecast for India to 5.8 per cent from its earlier 6.2 per cent.
In 2018, Indian became the world’s fastest-growing domestic aviation market. The market received a blow at the beginning of this year when Jet Airways shut shop in April.
According to reports, China witnessed the highest air travel demand at 10.1 per cent in August followed by Russia, which logged 6 per cent growth during the month.
The domestic passenger volume for the US increased 3.9 per cent in August over August 2018, as per IATA.
“While we saw a pick-up in passenger demand in August compared to July, growth remains below the long-term trend and well-down on the roughly 8.5 per cent annual growth seen over 2016 to Q1 2018 period.
“This reflects the impact of an economic slowdown in some key markets, uncertainty over Brexit and the trade war between the US and China,” said Alexandre de Juniac, IATA’s Director General and CEO.
(With PTI inputs)