Global airlines bet on India travel boom

Global Airlines Expanding in India:

• Global airlines are increasing flights and schedules in India, anticipating significant growth in the country's aviation market over the next decade.
• India is a fast-growing aviation market with domestic and international air travel on the rise.

Projected Passenger Growth:

• The domestic air travel market in India is expected to double to 300 million passengers by 2023.
• International traffic is forecasted to reach 160 million passengers by 2030, up from 64 million in the previous year.

New Flight Routes and Expansion:

• Turkish Airlines is considering flights between Antalya and India, exploring partnerships with carriers like Sun Express or IndiGo.
• Wizz Air plans to launch its first flights to India next year, aiming to tap into the growing market.

Massive Fleet Growth:

• India's aircraft fleet is projected to surpass 1,500 by 2030 from around 700 currently, attracting aircraft lessors for financing opportunities.
• IndiGo and Air India have placed record orders for hundreds of new planes to meet the demand.

Government Support and Investment:

• The Indian government is investing approximately $12 billion in new and upgraded airports to support the aviation sector's growth.
• India's travel boom is expected to be driven by its large diaspora and a rising number of young, affluent travelers.