International Air Transport Association (IATA) Wednesday said that passenger traffic in India grew by 8.8 percent year on year in January, with demand rising by nine percent over that of December 2011.
According to IATA, the aviation capacity was expanded by 12.8 percent and passenger load factor touched 74.9 percent.
Global passenger traffic grew by 5.7 percent in the month under review, whereas air freight circulation declined by eight percent as compared to the same month in 2011.
“The year started with some hopeful news on business confidence. This is having a positive impact on business-related travel,” said IATA hief executive and director general Tony Tyler in a statement.
“However, airlines face two big risks: rising oil prices and Europe’s sovereign debt crisis. Both are hanging over the industry’s fortunes like the sword of Damocles.”
Tyler added that billions of dollars worth of orders for aircraft at the recent Singapore Airshow also demonstrated the fact that airlines are strategically investing to meet future demand with more fuel efficient aircraft.
“Running an airline in today’s uncertain economic climate is a tough job. At the same time, we know that demand for air travel will grow as the global economy recovers and requires even greater connectivity.”