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Indian aviation to growth at 7.8%
By agencies
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Wednesday, 21 September 2005, 19:30 IST
MUMBAI: The International Air Transport Association has said that India will see a healthy average annual growth rate of 7.8 percent in passenger traffic.
IATA Director Anthony Council said though the aviation industry will grow in India, the growth would be less than half of last year. "The 2004-2008 country forecast for India shows an average annual growth rate of 7.8 percent for passenger traffic and 8.5 percent for cargo. This is despite the hike in oil prices," he said.
He also said the association estimates that globally, the industry will incur losses of $7.4 billion, "But the airlines in India and the whole Asia Pacific are expected to make a $1 billion profit. But given the size of the industry, a billion dollars across Asia Pacific is not sufficient. This is less than half the result achieved in 2004," he said.