ICRA Forecasts Strong Growth in Air Passenger Traffic for FY2025

Growth in Air Passenger Traffic for FY2025
ICRA projects a robust growth of around 8-11% year-on-year (YoY) in overall air passenger traffic, reaching approximately 407-418 million in FY2025. This growth is anticipated to be driven by a substantial increase in both leisure and business travel, enhanced connectivity to new destinations in the domestic segment, and a continued uptick in international travel. In FY2024, passenger traffic had already surged to 376.4 million, marking a remarkable 15% YoY increase and surpassing pre-Covid levels by 10%. Additionally, ICRA's sample set revenues are expected to grow by around 15-17% YoY in FY2025.

Vinay Kumar G, Vice President & Sector Head, Corporate Ratings, ICRA, remarked, “The recovery in Indian airport passenger traffic has been impressive compared to other major global counterparts. India's share in global passenger traffic rose from 3.8% in CY2019 to 4.2% in CY2023. While global passenger traffic rebounded to only 96% of pre-pandemic levels in CY2023, Indian airport passenger traffic surged to 106% of pre-Covid levels, driven by robust economic growth and the introduction of new airport routes. Indian air passenger traffic is expected to surpass global trends.”
IndiaSkills 2024 Breaks Gender Norms with Surge in Female Participation

IndiaSkills 2024 Breaks Gender Norms with Surge in Female Participation

The IndiaSkills Competition 2024, held from 15th to 19th May at Yashobhoomi, Dwarka, saw a remarkable rise in women's involvement in traditionally male-dominated trades. With over 900 candidates from 30+ States and Union Territories

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Ministry of Steel Hosts National Workshop on Sustainable Practices

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The Ministry of Steel organized a National Workshop on "Forging Sustainability in the Steel Sector" at Vigyan Bhawan, New Delhi. The workshop aimed to promote sustainable practices in the steel industry by addressing key issues and

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NCRTC Invites Bids for Commercial Spaces in Delhi-Meerut RRTS Project

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The National Capital Region Transport Corporation (NCRTC), overseeing the Rs 30,000-crore Delhi-Meerut regional rapid transit system (RRTS) project, has initiated bids for leasing commercial spaces at three stations along the corridor.

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Emiza unveils Mumbai Warehouse with Rs 15 crore investment

Emiza unveils Mumbai Warehouse with Rs 15 crore investment

Emiza has announced the opening of its state-of-the-art warehouse facility in Mumbai, with a substantial investment of 15 crores. “This state-of-the-art warehouse signifies Emiza's steadfast commitment to advancing logistical capabilities

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Call for Entries: ITA Tunnelling Awards 2024

Call for Entries: ITA Tunnelling Awards 2024

The international competition "ITA Tunnelling Awards 2024" is now open for submissions, seeking to recognize groundbreaking innovations and outstanding projects in tunnelling and underground space utilization. The 10th edition of the

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Western Railway Invites Bids for ₹261.79 cr Bridge Project in MP

Western Railway Invites Bids for ₹261.79 cr Bridge Project in MP

Western Railway has issued bids for works related to bridge construction and other structures as part of the gauge conversion project of Dr. Ambedkar Nagar (Mhow-Sanawad section) in Ratlam, Madhya Pradesh. The project, with an estimated

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L&T Bags Orders for Buildings & Factories Business

L&T Bags Orders for Buildings & Factories Business

Larsen & Toubro's buildings and factories business vertical has secured a project from the Institute of Neurosciences Kolkata. The contract entails constructing a medical college and hospital campus in Kolkata on a design and build

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Tembo Global Industries Secures ₹241cr Orders from Infrastructure Sector

Tembo Global Industries Secures ₹241cr Orders from Infrastructure Sector

Tembo Global Industries, a leading manufacturer and fabricator of metal products, has acquired new orders worth ₹241 crores from the Infrastructure Sector. Sanjay J Patel, Managing Director of Tembo Global Industries Ltd., stated

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K2 Infragen Secures ₹90.2 Cr Contract for Rail Over Bridge in UP

K2 Infragen Secures ₹90.2 Cr Contract for Rail Over Bridge in UP

K2 Infragen Ltd has secured a contract worth ₹90.2 crore for constructing a 4 Lane Rail Over Bridge on the Patna-Mughalsarai Section of Danapur Division in Chandauli District, Uttar Pradesh. The tender was won by a joint venture

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Grade A Office Space Demand in India to Surpass 70 MSF in 2024: CREDAI

Grade A Office Space Demand in India to Surpass 70 MSF in 2024: CREDAI

According to a report issued by CREDAI in collaboration with CRE Matrix, Grade A office space leasing demand in India will cross 70 Million Square Feet (MSF) this year. The report highlighted how India has already experienced a notable

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NHAI Conducts Workshop on Insurance Surety Bonds

NHAI Conducts Workshop on Insurance Surety Bonds

NHAI organized a workshop in New Delhi to discuss the implementation of Insurance Surety Bonds (ISB) for NHAI contracts. The objective was to review progress and encourage wider adoption of the instrument. The workshop featured addresses

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Shri Atul Kumar Tiwari Inaugurated India’s Biggest Skill Competition

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Shri Atul Kumar Tiwari, Secretary of the Ministry of Skill Development & Entrepreneurship, inaugurated the IndiaSkills Competition 2024 today. This competition, hailed as the country’s largest skill event, aims to showcase the

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MatchLog partners with DahNAY to enable green logistics

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MatchLog, a pioneer in sustainable logistics and supply chain optimization, has collaborated with DahNAY, a company providing innovative logistics solutions, to optimize supply chain management via efficient container triangulation.

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BRO Breaks Through Sungal Tunnel on Jammu-Poonch Highway

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The Border Roads Organisation (BRO) has reached a significant milestone with the breakthrough of the 2.79-km Sungal tunnel along the Jammu-Poonch national highway. BRO chief Lt Gen Raghu Srinivasan expressed optimism about

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AJAX Engineering Becomes First in India to Export Slip-form Pavers

AJAX Engineering Becomes First in India to Export Slip-form Pavers

AJAX Engineering, India's top concreting equipment manufacturer, has achieved a significant milestone by becoming the first in the country to export Slip-form Pavers, specialized heavy concrete equipment crucial for large-scale

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Indian Railways Awards Rs 818 Cr Wagon Contract to SAIL-RITES

Indian Railways Awards Rs 818 Cr Wagon Contract to SAIL-RITES

The Indian Railways has awarded a substantial wagon manufacturing contract worth Rs 817.74 crore to the joint venture of Steel Authority of India Limited (SAIL) and Rail India Technical and Economic Service (RITES). The joint

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IKEA partners with Rhenus ahead of its online expansion in Delhi NCR

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IKEA has signed an MoU with Rhenus Logistics to elevate the home delivery experience for customers in the Delhi NCR region. This step aims to support the growth of IKEA's e-commerce expansion and ensure faster and sustainable deliveries

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Jindal Stainless supplies high-strength stainless steel to Vande Metro

Jindal Stainless supplies high-strength stainless steel to Vande Metro

Jindal Stainless has supplied the tempered 201LN grade of high-strength stainless steel for the Vande Metro train manufactured at the Integral Coach Factory (ICF) in Chennai. The Vande Metro train is a shorter-distance version

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