The Omicron variant threat is one that appears to be expanding with every passing minute, with one of the biggest impacts set to be on the aviation industry. A recent research conducted by ICRA (Investment Information and Credit Rating Agency) stated that another set of lockdowns could very well disturb the road to recovery for the domestic aviation sector. In fact, the research showed that the corporate traveller segment showed signs of slowing down, with a 19 percent decrease in November 2021, in comparison to pre-covid levels.
Everything from domestic air traffic to the number of departures has increased year on year. The research also showed that airlines’ capacity deployment was around 49 percent higher than November 2020 when 54,132 departures were recorded. Furthermore, the number of departures in November 2021 was higher by around 12 percent compared to October 21 due to Covid-19 infections, which resulted in a downward trajectory.
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Suprio Banerjee, ICRA’s vice president and sector head, said, “The threat of [the] new variant, which has pushed [back] the resumption of scheduled international operations, has the potential to derail the domestic recovery too, if it becomes a source of fresh round of lockdowns/restrictions in the near term." He further added, “Though the recovery continued in November 2021, demand continues to be subdued from the corporate traveller segment as reflected by the passenger traffic being lower by around 19% in November 2021 compared to pre-Covid levels."
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