{"id":14662,"date":"2024-06-23T10:19:25","date_gmt":"2024-06-23T07:19:25","guid":{"rendered":"https:\/\/aviation-news.info\/?p=14662"},"modified":"2024-06-23T10:19:25","modified_gmt":"2024-06-23T07:19:25","slug":"budget-2024-expectations-all-eyes-on-aviation-sector-as-industry-poised-for-growth-takeoff","status":"publish","type":"post","link":"https:\/\/aviation-news.info\/?p=14662","title":{"rendered":"Budget 2024 Expectations: All eyes on aviation sector as industry poised for growth takeoff"},"content":{"rendered":"<p>As the Indian government prepares to unveil its upcoming 2024-25 Budget, all eyes are on the aviation sector, which stands at a pivotal juncture poised for significant growth. With projections indicating a substantial rise in air passenger numbers in the coming years, as highlighted by Sanjeev Kumar, Chairman of the Airports Authority of India. The anticipation is high for policies and allocations that will support this trajectory.<\/p>\n<p>AAI chairman emphasised the potential for the Indian\u00a0<a id=\"event-\" class=\"ie-click-event\" href=\"https:\/\/www.financialexpress.com\/business\/airlines-aviation\/\" rel=\"noamphtml\" data-post-id=\"event-\" data-event-category=\"Keyword_To_URL_widget\" data-event-action=\"click\" data-event-label=\"Desktop_3532043\">aviation<\/a>\u00a0<a id=\"event-\" class=\"ie-click-event\" href=\"https:\/\/www.financialexpress.com\/market\/\" rel=\"noamphtml\" data-post-id=\"event-\" data-event-category=\"Keyword_To_URL_widget\" data-event-action=\"click\" data-event-label=\"Desktop_3532043\">market<\/a>\u00a0to cater to nearly 300 crore passengers annually by 2047, underscoring the sector\u2019s critical role in serving a burgeoning middle class and expanding population. \u201cAs per one estimate, by 2047, we should be carrying almost 300 crore passengers per year. Our population is huge; our middle class is growing, so the number of travellers is going to grow,\u201d Kumar had said.<\/p>\n<p>The aviation sector is experiencing a significant resurgence following the COVID-19 pandemic, driven by a substantial increase in passenger demand. Both domestic and international air\u00a0<a id=\"event-\" class=\"ie-click-event\" href=\"https:\/\/www.financialexpress.com\/life\/travel-tourism\/\" rel=\"noamphtml\" data-post-id=\"event-\" data-event-category=\"Keyword_To_URL_widget\" data-event-action=\"click\" data-event-label=\"Desktop_3532043\">travel<\/a>\u00a0are seeing an unprecedented surge in passenger volumes, indicating a strong recovery and promising prospects ahead for the\u00a0<a id=\"event-\" class=\"ie-click-event\" href=\"https:\/\/www.financialexpress.com\/business\/industry\/\" rel=\"noamphtml\" data-post-id=\"event-\" data-event-category=\"Keyword_To_URL_widget\" data-event-action=\"click\" data-event-label=\"Desktop_3532043\">industry<\/a>.<\/p>\n<h2 class=\"wp-block-heading\">India now 3rd-largest domestic airline market<\/h2>\n<p>Based on analysis using OAG data,\u00a0<a id=\"event-\" class=\"ie-click-event\" href=\"https:\/\/www.financialexpress.com\/india-news\/\" rel=\"noamphtml\" data-post-id=\"event-\" data-event-category=\"Keyword_To_URL_widget\" data-event-action=\"click\" data-event-label=\"Desktop_3532043\">India<\/a>\u00a0has ascended to become the world\u2019s third-largest domestic airline market, a notable climb from its fifth position a decade ago. The data reveals that India\u2019s domestic airline capacity has doubled over the past decade, growing from 7.9 million in April 2014 to 15.5 million in April 2024.<\/p>\n<div class=\"wp-block-ie-network-blocks-also-read undefined ie-network-also-read\"><span class=\"heading\">ALSO READ<\/span><\/p>\n<div><a href=\"https:\/\/www.financialexpress.com\/business\/airlines-aviation-budget-2024-what-did-interim-budget-entail-for-aviation-sector-a-recap-3528237\/\">Budget 2024: What did Interim Budget entail for Aviation sector? A recap<\/a><\/div>\n<\/div>\n<p>.<\/p>\n<p>In moving to the third position, India has surpassed Brazil, now ranked fourth with 9.7 million seats, and Indonesia, which has dropped to fifth with 9.2 million seats. The United States (86.1 million) and China (67.8 million) maintain their lead as the top two countries in terms of domestic airline capacity.<\/p>\n<p>India\u2019s annual growth rate in seat capacity over the past decade is the highest among the top five nations, averaging 6.9%. This is followed by China at 6.3%, the US at 2.4%, Indonesia at 1.1%, and Brazil experiencing an annual decline of 0.8%.<\/p>\n<p>source:<a href=\"https:\/\/www.financialexpress.com\/budget\/budget-2024-expectations-all-eyes-on-aviation-sector-as-industry-poised-for-growth-takeoff-3532043\/\"> https:\/\/www.financialexpress.com\/budget\/budget-2024-expectations-all-eyes-on-aviation-sector-as-industry-poised-for-growth-takeoff-3532043\/<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>As the Indian government prepares to unveil its upcoming 2024-25 Budget, all eyes are on the aviation sector, which stands at a pivotal juncture poised for significant growth. With projections indicating a substantial rise in air passenger numbers in the coming years, as highlighted by Sanjeev Kumar, Chairman of the Airports Authority of India. The &hellip;<\/p>\n","protected":false},"author":1,"featured_media":14663,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_bbp_topic_count":0,"_bbp_reply_count":0,"_bbp_total_topic_count":0,"_bbp_total_reply_count":0,"_bbp_voice_count":0,"_bbp_anonymous_reply_count":0,"_bbp_topic_count_hidden":0,"_bbp_reply_count_hidden":0,"_bbp_forum_subforum_count":0,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"_wpscppro_dont_share_socialmedia":null,"_wpscppro_custom_social_share_image":0,"_facebook_share_type":"default","_twitter_share_type":"default","_linkedin_share_type":"default","_pinterest_share_type":"default","_linkedin_share_type_page":"","_instagram_share_type":"default","_medium_share_type":"","_threads_share_type":"","_google_business_share_type":"","_selected_social_profile":null,"_wpsp_enable_custom_social_template":false,"_wpsp_social_scheduling":{"enabled":false,"datetime":null,"platforms":[],"status":"template_only","dateOption":"today","timeOption":"now","customDays":"","customHours":"","customDate":"","customTime":"","schedulingType":"absolute"},"_wpsp_active_default_template":true},"categories":[96,102],"tags":[],"class_list":["post-14662","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-aviation-world","category-featured-en"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.7 (Yoast SEO v27.7) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Budget 2024 Expectations: All eyes on aviation sector as industry poised for growth takeoff - aviation news<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/aviation-news.info\/?p=14662\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Budget 2024 Expectations: All eyes on aviation sector as industry poised for growth takeoff\" \/>\n<meta property=\"og:description\" content=\"As the Indian government prepares to unveil its upcoming 2024-25 Budget, all eyes are on the aviation sector, which stands at a pivotal juncture poised for significant growth. 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