Tuesday, June 18, 2024 The global airline and aviation sector is on the cusp of a significant transformation. With a burgeoning middle class, rising disposable incomes, and a keen appetite for travel, both domestic and international, the country is poised to become one of the hottest travel markets globally. Recognizing this immense potential, global airlines are swiftly expanding their operations and launching new routes in India, setting the stage for unprecedented growth over the next decade.
India’s domestic aviation market is currently experiencing a remarkable surge. According to government data, domestic air travel is expected to double from a record 152 million passengers in 2023 to a staggering 300 million by the end of the decade. This growth trajectory is mirrored in international travel as well.
The aviation research group CAPA India projects that international traffic will grow from 64 million passengers in 2022 to 160 million by 2030. Such forecasts have made India a focal point for global airline CEOs and aircraft leasing companies, as evidenced by the discussions at the largest gathering of these leaders in Dubai last week. Turkish Airlines, one of the major players in the global aviation industry, is keen on capitalizing on India’s growing market.
During the International Air Transport Association (IATA) summit, Chairman Ahmet Bolat announced plans to consider new flights between Antalya, Turkey, and India. This expansion could be executed through Sun Exp.