Indian aviation sector "re-established" its resilience this fiscal despite a large airline suspending operations and the government has been providing a congenial environment so that airlines can have more than 1,200 planes by 2023-24, according to the Economic Survey.
India is the world's third largest domestic market for civil aviation and has 136 Airports Authority of India (AAI)-managed airports as well as six aerodromes under public private partnerships, it said.
In recent times, domestic traffic growth had faced headwinds.
The Survey for 2019-20, tabled in Parliament on Friday, also said airlines operators in the country have scaled up their aircraft seat capacity from an estimated 0.07 annual seats per capita in 2013 to 0.12 in 2018.
"Indian aviation re-established its resilience in the year 2019-20. Despite a large airline suspending operations on April 17, 2019, the sector swiftly sprung back to fill the void created in passenger and air cargo capacity," it said.
After flying for more than 25 years, full-service carrier Jet Airways shuttered operations in April last year as it ran out of funds. The closure had a significant impact in the sector, including lower capacity to meet higher passenger demand.
To ease the strain on existing airport capacities, 100 more are to be made operational by FY 2023-24. Besides using 46 idle airstrips, 16 private greenfield airports, 15 AAI airports, 31 heliports, and 12 waterdromes would also be developed, as per the Survey.
As many as five new airports, including at Kannur in Kerala and Shirdi in Maharashtra, were operationalised this fiscal.
"To continue with the high growth trajectory, the government has been providing a congenial environment so that the Indian carriers double their fleet from about 680 aircraft at the close of November 2019 to over 1,200 by FY 2023-24," the Survey said.
The fleet refers to those of scheduled airlines.
According to the Survey, high growth would continue by way of easing leasing and financing from Indian shores, efficient use of air traffic rights, encouraging domestic and international passenger and goods transfers, and rationalising the tax regime.
"Capacity utilisation is also being augmented by way of automation at airports. Overall objective is to meet the growing demand and set global best practices and performance quality standards," it added.
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