India's aviation may fly into a good growth zone, air passenger traffic may grow around 8-11%: ICRA

India's airport operators and aviation stakeholders are expected to see a positive outlook as air passenger traffic is projected to grow 8-11% YoY to 407-418 million this fiscal year. The growth will be driven by increased leisure and business travel, improved connectivity, and rising international travel. Revenues for ICRA's sample set are estimated to rise 15-17% YoY, with the Indian airport passenger traffic outperforming global trends and expected to remain strong.