Air passenger traffic on a higher plane

The air passenger traffic volume in India is growing month on month, that augurs well for the airport advertising business in the country. Aerospace major Boeing India reportedly views accelerated recovery in air passenger traffic as vaccinations rise and Covid restrictions ease across cities. Boeing India President Salil Gupte was quoted in a news report as saying: “In the commercial market, while near term pressure due to Covid-19 remains, the recovery is accelerating and many of the key long-term fundamentals remain intact.”

Gupte also said that  passenger traffic is expected to return to 2019 levels in 2023 to 2024 and a few years beyond that to return to long-term growth trend.

Over the months of May-June-July, passenger traffic volume has consistently grown month-on-month, with a significant spike in comparison with corresponding months of the previous year. As per data sourced from Airports Authority of India (AAI) website, air passenger traffic volume soared from 4.46 million in May, and 6.51 million in June to 10.53 million in July.

Gupte in his statement to the media cited that “in India, domestic traffic is leading the recovery. We’re seeing double digit monthly improvements in operations as vaccine rates improve and travel restrictions begin to loosen.” The data points sourced from AAI testify this.

However, toward the tail-end of August passenger traffic volume has reportedly declined owing to a substantial rise in ticket prices. It is learnt that the prices went up in a period when the Government eases some curbs on fare caps.

While the overall air traffic volume is still considerably lower than pre-pandemic levels, the growth in domestic passenger volume will be of the essence to a gamut of brand advertisers that see great value in connecting with audiences at the airports.