Ever since the economic liberalization in the 1990’s that boosted India’s aviation industry, forecasts by the International Air Transport Association (IATA) show India is set to become one of the world’s largest aviation markets by 2034.
The domestic aviation market is dominated by the low-cost carrier, IndiGo, with a 42 percent market share on domestic flights, and its competitor, Jet Airways, with 17 percent. IndiGo carried some 43.5 million passengers and generated total income of 2.9 billion U.S. dollars in the fiscal year of 2016-2017. Jet Airways handled over 227 million tons of freight in the fiscal year of 2016-2017 and transported some 19.1 million passengers on its domestic flights.
Air India is the country’s national airline and the third largest airline on the domestic air passenger market. In the fiscal year of 2015-2016, the airline carried some 18.48 million passengers and handled more than 187,000 metric tons of freight, reporting operating revenue of about three billion U.S. dollars.
In the fiscal year of 2015-2016, Indian airports handled more than 223 million passengers. In the fiscal year of 2016-2017, Delhi’s Indira Gandhi International Airport was the busiest airport, handling some 57.7 million passengers on domestic and international flights, followed closely by Mumbai’s airport with 45.1 million passengers passing through. The two airports are also leading in terms of international freight traffic in that period.
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