India’s air passenger traffic growth to moderate to 1-3% in FY2027: ICRA

India’s overall air passenger traffic is expected to grow 1-3 per cent in FY2027 to 424-432 million, following 2 per cent growth in FY2026, according to ICRA. The rating agency said geopolitical tensions, the West Asian crisis, elevated aviation turbine fuel prices and aircraft supply constraints could weigh on traffic growth, while airport infrastructure capex is expected to exceed INR 1 lakh crore.