Steep rise in domestic flyers in 4 years, says study International Air Transport Association predicts 49.3 million new passengers between 2012 & 2016

Steep rise in domestic flyers in 4 years, says study

International Air Transport Association predicts 49.3 million new passengers between 2012 & 2016

A study carried out by trade group, International Air Transport Association (IATA) found that there will be nearly 50 million new passengers on the domestic circuit within the next four years. The study also found that India will clock the second highest growth rate at 13.1% in the 2012-16 period, which will translate into 49.3 million new passengers. However, an analysis by the Directorate General of Civil Aviation (DGCA) found that the first nine months of 2012 saw a decline of 0.9%, similar to the corresponding figures last year. “Despite the current economic uncertainty, the expected demand for connectivity remains strong. Growing air transport links generate jobs and underpin economic growth. But exploiting these will require governments to recognise aviation’s value with policies that do not stifle innovation, tax regimes that do not punish success and investments that enable infrastructure to keep up with growth,” said Tony Tyler, CEO and director general of IATA. Globally, aviation supports some 57 million jobs and generates nearly $2.2 trillion. As per the IATA study, Kazakhstan stands first with a projected growth of 22.5%. But despite its ranking, only 3.9 million new passengers will be added to its existing 2.2 million due to its low population as compared to India. China is the only other country in the world that is expected to see a double digit growth during this period. The study underlines that though the growth percentage is expected to be 10.1%, 158.9 million new passengers will be added. The Centre recently opened the aviation industry to 49% FDI, thereby raising hopes of reving the industry.