Domestic air passenger traffic back to growth trajectory in June amid falling COVID-19 cases: ICRA

07 Jul 2021 Evaluate

Amid the falling number of COVID-19 cases in the country, credit rating agency ICRA in its report said that domestic air passenger traffic was back to the growth trajectory in June with around three million passengers flying on local routes in the previous month as against around two million in May. Though there is some recovery observed in June, stress on demand continues, driven largely by the second wave of the pandemic, limiting travel to only necessary travel. On a sequential basis, domestic passenger traffic was up 41-42 per cent in June over May. However, the domestic passenger volume rose 51 per cent on a year-on-year basis.

June 2020 was the full month of operations after domestic commercial flights were recommenced on May 25 following a nearly two-month ban amid the nationwide lockdown in late-March last year. It has now permitted increasing the capacity to 65 per cent with effect from July 5 and which will remain applicable up to July 31. As per the report, for June 2021, domestic passenger traffic stood at around 29-30 lakh, implying a sequential growth of around 41-42 per cent as compared with around 19.8 lakh in May 2021. The airlines' capacity deployment in May, which was reduced to 50 per cent from 80 per cent earlier following a government order, was around 46 per cent higher at around 31,700 departures, than 21,696 departures in June 2020. It added that on a sequential basis, the number of departures in June were higher by around 14-15 per cent, as coronavirus infections demonstrated a downward trajectory.

According to ICRA, the government's recent announcement of a scheme providing financial support in the form of working capital/personal loans to around 10,700 recognised regional-level tourist guides is expected to provide the much-needed liquidity support to tourism and travel stakeholders (TTS). This, in turn, is expected to boost the overall travel and tourism sector, of which aviation remains a key beneficiary. Under the scheme, TTS will be eligible to get a loan of up to Rs 10 lakh each, while tourist guides can avail loans of up to Rs 1 lakh each. Additionally, to provide an impetus to the tourism industry, the finance ministry announced a scheme to issue one-month tourist visas free of charge to first five lakh customers. Validity of this is until March 31, 2022, or issuance of five lakh tourist visas, whichever is earlier.

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