Mumbai: Domestic air passenger traffic is expected to grow by 3-6 per cent and international by 0-3 per cent for Indian carriers in the current fiscal, ratings agency ICRA said on Thursday while assigning a negative outlook on the Indian aviation industry.
These forecasts reflect the impact of the instability in West Asia, which has resulted in a hike in fares due to cost escalations for the airlines and the anticipated curtailment of discretionary spends because of increased inflation, ICRA said.
