Air passenger traffic growth in Jan-Mar 2024 bodes well for airport media biz

Air passenger traffic volume at Indian airports has sustained its northbound journey, keeping in view the data for the period January – March 2024, compared with the corresponding months of 2023. Air traffic data published by Airport Authority of India (AAI) shows that total air passenger volume (domestic and international traffic combined) went up by 7.2% in January 2024, 8.1% in February 2024, and 6.5% in March 2024, as compared to the corresponding months of 2023.

International passenger traffic volume saw significant spikes, recording 17% rise in January 2024, 19.3% in February 2024, and 15% in March 2024, as compared to corresponding months of 2023, whereas domestic passenger traffic went up by 5% in January 2024, 5.8% in February 2024, and 4.7% in March 2024, as compared to corresponding months of 2023.

The overall growth in aggregate air passenger volume covering all airports with civil aviation operations augurs well for airport media advertising business, and will likely boost new investments in airport media assets. Table 1 & Figure 1 illustrate the data.

Table 1: Air passenger traffic at Indian airports during January – March 2024 

Source: AAI traffic data 

Fig 1: Air passenger traffic at Indian airports during January – March 2024 

Source: AAI traffic data 

In terms of air passenger traffic at individual airports, out of the Top 10 Airports receiving highest footfall in March 2024, Indira Gandhi International Airport, Delhi recorded the maximum increase in international passenger footfall of 22.2% in March 2024 as compared to data for March 2023, and Chennai International Airport recorded the least increase in international passenger footfall of 9.8% in March 2024 as compared to March 2023.

In the domestic passenger traffic category, Hyderabad Airport (GHIAL) recorded the highest increase of 11.4% from March 2023 to March 2024. 

Table 2 illustrates the top 10 airports with highest international and domestic air passenger traffic in the month of March 2024.

Table 2: Top 10 airports with highest international and domestic air passenger traffic in March 2024

Source: AAI traffic data

Fig 2: Top 10 airports with international passenger traffic (March 2024)

Source: AAI traffic data

Source: AAI traffic data