The International Air Transport Association has revealed in a report that India, which was being considered the fastest growing aviation market in the world, has now become the worst performing domestic air travel market globally.
"Weakness in India, Japan and the US, stands in stark contrast to the strong growth experienced in China and Brazil ," IATA's report on global traffic results for the month of October 2012 revealed.
According to IATA, India has witnessed 12.4% plunge in domestic air travel in the month of October as compared to the same month last year.
This was the highest fall anywhere globally within the domestic airline industry . Domestic air travel in the month of November has dropped by 15.7% as compared to the same month last year, IATA said.
On the issue, senior officials of Indian carriers said that unless the Indian government does something to rationalize jet fuel prices and lowers airport user fees on passengers, landing and parking-charges, the cost of flying would remain high and affect the Indian aviation industry.
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