Summary:

India's aircraft seat capacity is expected to increase by 12.7% by 2024, ranking sixth globally compared to pre-pandemic levels in 2019. Countries such as Saudi Arabia, the UAE, Mexico, and Turkey have seen faster recoveries. However, over half of the top 20 nations have yet to fully recover, including France, Australia, Russia, and others. India's seat capacity is predicted to grow by 8% YoY in FY24.

Despite optimistic forecasts, India's aviation capacity development faces hurdles. IndiGo, which operates Airbus A320 and A350 aircraft, currently has 70 grounded planes due to Pratt & Whitney component delays, resulting in a daily loss of 68,000 seats. However, with substantial aircraft orders from Air India and IndiGo, growth is expected. Globally, seat capacity recovery in FY24 is only 2.4% higher than in FY19, with a YoY increase of 6.6%, despite economic headwinds facing the industry.

Source: IBEF

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