entral banks the world over are likely to cut interest rates from June-July this year to bring real rates closer to the pre-Covid range, according to Morgan Stanley.
According to a press note, the airport's passenger numbers surged to an impressive 12.7 million in Q3 2023, representing a recovery of 109 per cent when compared to the pre-Covid figures of Q3 2019, which stood at 11.7 million.
Along with the world-famous drivers and their girlfriends, there were other celebrities, fans, spectators and tourists thronging the Marina Bay Street Circuit and other parts of Singapore, soaking in the atmosphere. Plus, a large number of business executives.
Total traffic in April 2023 (measured in revenue passenger kilometres or RPKs) rose 45.8per cent compared to April 2022. Globally, traffic is now at 90.5 per cent of pre-Covid levels. At 81.3 per cent, the industry load factor was only 1.8 percentage points below the pre-pandemic level, Inte
Travel is back on the Indian consumer radar with over 84 per cent of people surveyed indicating an increased intent to travel in the next six months as against 45 per cent of respondents in pre-pandemic times, a survey by Thomas Cook (India) said.
While speaking in terms of cargo business, he said there was a bit of lag. He said globally too, it was suffering. "In Europe, there is a slowdown. In the US, there is no growth," he added.
According to the Ministry of Civil Aviation, "India's domestic air traffic reached a new height with an all-time high on Sunday when a total of 9,13,336 passengers travelled on 5,947 flights".
The Paris-based agency said much of the increase was due to a rise in exports of oil products, which returned to pre-COVID levels as they climbed by 450,000 bpd to 3.1 million bpd, reported The Moscow Times.
A total of 193,230 of these came from India which is about 3.5 times more than the 54,530 who arrived in 2022. Indian residents are the fourth largest source of tourist arrivals in the first quarter after Indonesians (523,300), Malaysian (278,910) and Australians (265,730). Americans made up
On the domestic front, the peak impact of the rate hikes -- 250 basis points since May 2022, which has pushed interest rates above pre-Covid-19 levels -- will play out in fiscal 2024, according to a statement of CRISIL.
Indian carriers continue to increase the market share in the international aviation sector, with countries in Africa, and the Middle East region accounting for more than half of India's total inbound as well as outbound passengers.