INDIA slipped to the fourth position in domestic air passenger traffic in August with passenger volume growing 3.7 per cent in the month over the period year-ago, reflecting the deepening crisis in the economy spawned by slumping consumer demand, IATA data showed.

 

The average global demand for domestic travel, however, climbed 4.7 per cent in the month under review compared to August last year, unchanged from the previous month, as per International Air Transport Association (IATA) data.

The International Air Transport Association data came on the day Moody’s Investors Service slashed its 2019-20 gross domestic product (GDP) growth forecast for India to 5.8 per cent from 6.2 per cent earlier, saying the economy was experiencing a slowdown.