Question: As per the report of IATA, India is continuing to be one of the fastest growing domestic market for air passengers for how many years?
(a) 3 years
(b) 4 years
(c) 5 years
(d) 2 years
- International Air Transport Association, IATA, has reported that India and China are projected to account for nearly half of the air passenger growth worldwide over the next two decades, with travellers coming from all walks of life.
- It is said that with more number of people are making air travel where India was seen as one of the fastest growing domestic aviation markets in the world for nearly five years continuously.
- However, the growth turned negative in April mainly due to flight cancellations and subsequent grounding of full-service carrier Jet Airways.
- India has 18.9% air travel growth while China had 12.1% growth in the same period.
- Asia has the fastest growth rate continent wise.
- The return on capital down to 7.4% and net profits is $28bn or $6.12 per passenger.
- Trade wars damaging world trade: air cargo traffic forecast for zero growth.
- IATA is a grouping of around 290 airlines.