Breaking News

You are here » Indian-Commodity  :  Economy  :  India posts highest growth of air passenger traffic in Asia Pacific Region in May: ACI


India posts highest growth of air passenger traffic in Asia Pacific Region in May: ACI

Airports Council International (ACI), the global trade representative of the world's airport authorities, in its latest report has showed that India tops the Asia Pacific region in posting the highest growth in air passenger traffic in May at 13.3 percent. In comparison, the growth in China and South Korea stood at 8.3 percent and 8.1 percent, respectively. It stated that the Asian giants like India, China and South Korea have shown impressive growth in the air traffic passenger that has led to a situation of disparity in the region if compared with passenger traffic growth of Japan and Australia.

According to the report, the Asia-Pacific market as a whole posted a growth rate of 6.3 percent, slightly higher than Europe where the figure stood at 6.2 percent. On the other hand, North America saw the traffic grow by 5.6 percent. It pointed out that the presence of the low-cost business model among carriers along with historically low jet fuel prices have certainly acted as catalysts to stimulate air transport demand through lower fare offerings on certain market segments. However, it noted that oil prices have shown a steady rise in the succeeding months.

ACI further highlighted that the global passenger traffic grew by 5.6 percent in May on a year-over-year basis. It noted that while this was close to one percentage point below its year-to-date growth figure, it remains a robust demonstration of resilience considering the global climate of increasing geopolitical tension.

Related News

View all news

Complete turnaround two years away for PSBs despite capital infusion: Moody's

After the government announced Rs 48,239 crore capital infusion into 12 public sector banks (PSBs) in this fiscal to help them maintain regulatory capital requirements and finance growth plans, global......

Finance Ministry to recapitalise 12 PSBs with capital infusion of Rs 48,239 crore

In a bid to take public sector banks (PSBs) out of Reserve Bank of India's (RBI) prompt corrective action framework, the Finance Ministry has decided to recapitalise 12 PSBs with capital infusion of Rs......

FDI falls 7% to $33.49 billion during April-December of FY19

The Commerce and industry ministry in its latest data has showed that in the first nine months (April-December) of current financial year (FY19) Foreign direct investment (FDI) into India contracted by......

Top News

View all news

Syndicate Bank enters into partnership with Srei Equipment Finance

Syndicate Bank has entered into partnership with Srei Equipment Finance to jointly provide financing for construction and farm equipment. Under the arrangement, Syndicate Bank would leverage on its low-cost......

Tata Motors to supply 80 Electric buses to West Bengal Transport Corporation

Tata Motors will supply 80 Electric buses to the West Bengal Transport Corporation (WBTC). The company has already supplied 20 Ultra Electric 9/9m AC E-buses, with remaining 20 9/9m AC E-buses scheduled......

BEL signs teaming agreement with Hughes India for Helicopter Satcom Solutions

Bharat Electronics (BEL) and Hughes India have entered into a Teaming Agreement for design, development, supply, installation, integration and commissioning of Satellite Communication solutions for helicopters......