GMR Airports, which operates key Indian airports such as those in Delhi and Hyderabad, saw a sharp increase in its passenger traffic in December as more people took to the skies.
Air fares in India have been declining in the last couple of months due to lower oil prices, which has in turn spurred air travel.
The trend was clearly visible in Delhi, where December passenger numbers jumped 8% compared to December last year and 9% compared to November this year. This was despite the fact that the number of flights remained static on a year-on-year basis at 36,829, indicating that planes flew -- on average -- fuller this year.
Hyderabad also saw a similar trend, with the number of passengers up 18% on the year, against a 12% increase in the number of flights using the airport.
Interestingly, even the Cebu airport in Philippines, which is also operated by the company, also saw such a trend, with passenger numbers increasing 23% against a 13% increase in flights.
On a company-wide basis, the passenger count jumped 15.3% in December to 10.92 mln compared to the same month a year earlier.
Delhi Airport, a key asset in GMR's portfolio, recorded its highest ever monthly passenger traffic, with over 6.6 million travelers. The airport also witnessed its highest single-day passenger traffic on December 23, 2023, underlining its status as a major aviation hub.
Hyderabad Airport, another major airport under GMR's management, continued accounted for 2.3 million passengers in December, reaching its highest ever monthly figure.
Mopa (Goa) Airport, a newly operational facility under GMR's management, displayed managed approximately 4.71 lakh passengers in December.
Number of flights across all the five airports operated by the company rose 8.3% on the year to 68,095.
The trends observed in December 2023 could also reflect the pent-up demand.