India needs over $170 bn to fund aviation expansion: S&P Global Ratings | News
 "Flight, plane, Airplane")
Airlines in the world’s most populous country have placed record orders with Airbus and Boeing. Photo: Shutterstock
India’s aviation sector will need to pump in more than $170 billion through 2030 to finance record aircraft orders and boost airport capacity amid an ongoing traffic boom, S&P Global Ratings said in a report.
India is one of the world’s fastest-growing aviation markets and domestic passenger traffic is expected to double to 300 million by 2030, according to government data. Traffic on overseas flights could more than double by then, estimates by aviation research group CAPA India show.
Click here to connect with us on WhatsApp
Airlines in the world’s most populous country have placed record orders with Airbus and Boeing, and authorities aim to double the number of airports by 2030 in a bid to build global aviation hubs to rival Singapore, Dubai and Doha.
S&P Global Ratings expects Indian carriers will spend $150 billion to finance outstanding orders of 1,700 aircraft, while $24 billion will be needed to build new airports and expand existing ones.
“The timing is right to support higher borrowing. Rising passenger air traffic, relatively cheaper domestic financing rates, and conducive government policies on foreign ownership should boost funding prospects for the sector,” S&P Global analysts said.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
First Published: Oct 15 2024 | 2:30 PM IST
