Discounts help Indian airlines log strongest global growth in February

Indian domestic aviation sector's growth was strongest in the world in February this year at 14.8% over the same period last year, according to the data by International Air Transport Association (IATA).

IATA, the trade association for global airlines, represents some 250 carriers, or 84% of total air traffic.

In comparison, the domestic traffic in Brazil grew 9.2%, China 8.4%, Australia 3.4%, Japan 3.6%, Russia 1.3% and the US 3.5%.

Commenting on the massive growth, IATA, in a statement said, "India's domestic growth soared because the market began to improve in later part of 2014, partly owing to market stimulation and that has continued in the year 2015."

A slew of discounts offered by the airlines, especially for advance bookings, also resulted in the huge growth, experts said.

According to aviation industry insiders, India's market is at a turning point in view of the improving economic confidence after the new government came to power at the Centre last year.

A report by CAPA, an aviation consultant, has pegged Indian domestic aviation market growth at 8-10% in the current calendar year. According to an estimate by the Union civil aviation ministry in 2013, India will become the third largest aviation market by the year 2020 from the ninth spot now. The country's airports are estimated to handle 336 million domestic and 85 million international passengers with projected investment to the tune of $120 billion.