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The Indian aviation industry is estimated to grow
by 18 per cent during FY2018, ratings agency ICRA said on Friday.

“The domestic passenger traffic growth
remained healthy backed by improvement in core growth drivers like economic
environment and increasing tourism demand,” the ratings agency said.

“The strong demand has pushed the passenger
load factor (PLF) to an all-time high of 86.5 per cent in the current fiscal
and India remains one of the best performing key domestic aviation markets in
the world in terms of PLF.”

As per ICRA, in terms of international routes,
the Indian airlines continued to outperform the industry during the current
year.

“The international passenger traffic growth
from India is estimated to be 10 per cent in FY2018, while the Indian airlines
are expected to report a growth of 13.5 per cent during the same period,”
it said.

“Increasing capacity deployment by Indian
airlines on international routes and growing tourism demand are the key growth
drivers. Resultantly, the market share of the Indian airlines on international
routes has remained at an all-time high during the current fiscal,” the
ratings agency added.