India’s airfares climb 9 per cent, premium class bookings up 20 per cent in Q1 2024: FCM Travel – Airlines/Aviation News

Average air ticket prices in India increased by 9 percent in the first quarter of 2024, reported PTI citing FCM Travell, an Australian Securities Exchange-listed company. The rise in fares is mainly due to higher travel demand and stronger economic growth, according to FCM Travel, an Australian Securities Exchange-listed company.

FCM Travel also reported a 20 percent rise in premium class bookings from January to March compared to the same period last year. This increase was driven by sectors such as manufacturing, IT, and large business conglomerates.

According to PTI, Sunny Sodhi, Managing Director of FCM Travel India, stated, “Domestic air capacity has increased more than 3 per cent but due to the demand in travel, we have seen average ticket prices increase by 9 per cent which is attributed to a much stronger economic growth and a general increase in demand for travel” 

He highlighted that popular domestic business travel routes include Delhi to Mumbai, Mumbai to…