NEW DELHI : Indian air cargo volume is expected to contract by 17-20% during the FY21 due to the capacity restriction imposed on airlines by the government to contain the covid-19 pandemic, rating agency ICRA said in a statement on Friday. Despite overall cargo volume ramping up faster than passenger traffic since April, a meaningful recovery is likely only in FY22, it added. During the period under consideration, the passenger traffic and aircraft traffic movement declined at a much faster pace, by 86% and 75% respectively," it added. The domestic cargo volumes witnessed significant improvement to 94,598 tonnes in September 2020 from 7,280 tonnes in April 2020, ICRA said. "The cargo volumes at metro cities witnessed CAGR growth of 5.3% during FY2011-FY2019.

Source: Mint November 20, 2020 12:11 UTC