India clocked a double-digit growth in April, thereby becoming the fastest-growing aviation market in the world in a month that saw global passenger traffic grow at its slowest pace since January 2015.
The global airlines body International Air Transport Association's (IATA’s) data released on Monday showed international passenger traffic rose by just 4.6% in April, the slowest year-over-year pace since January, 2015, following the Brussels suicide bomb attacks in March.
“The disruptive impact of the Brussels Airport attack weighed on the April figures. The IATA estimates that absent the impact of the attacks, demand growth would have been around 5%,” it said.
“India’s domestic traffic soared by 21.8%, marking the 20th month of double-digit traffic growth and the 13th consecutive month it has led the domestic markets,” said IATA, which represents some 260 airlines comprising 83% of the global air traffic.
India was the fastest-growing aviation market in the world in March 2016 clocking a growth of 27.4%. The country’s growth was over six times than that of the US, which with 4.1% was the second-fastest growing market.
“Growth is being propelled by the comparatively strong economic backdrop as well as by substantial increases in service frequencies,” the IATA said.
“The disruptive impacts of the Brussels terror attacks will likely be short-lived. There are some long-term clouds over the pace of the demand growth. The stimulus from lower oil prices appears to be tapering off. And the global economic situation is subdued. Demand is still growing, but we may be shifting down a gear,” said Tony Tyler, director general and CEO of IATA.
All markets reported demand increase with the exception of Brazil, which showed a 12.1% decline, reflecting the country’s ongoing economic recession and political turmoil, it added.
According to IATA, China recorded 9.5% domestic traffic growth, a strong rebound from the 3.3% increase recorded in March.
“Fears about slowing economic growth in the country have eased somewhat and increased growth in frequencies is helping stimulate demand,” it said.
International passenger demand, however, rose 4.8% in April this year compared to April 2015, the slowest pace in two years.
Airlines in all regions recorded growth, led by the West Asian region, it said.
(With PTI inputs)