The reduction coincides with dwindling daily passenger footfall, as a rise in COVID-19 infections has prompted several governments to re-impose limitations. Bonds issued by two of India’s main airport operators – Delhi International Airport and GMR Hyderabad International Airport – fell to their lowest level in over three months on January 11 as the resurgent COVID-19 wave affected air travel. According to the data supplied, the Delhi airport issued a 6.45 percent 2029 note with the lowest value since October 12, while the Hyderabad airport released a 4.75 percent 2026 note with the lowest value since October 14.
The drop comes amid the dwindling daily passenger footfall, as the surge in COVID-19 infections has led to the re-imposition of curbs in several states. The Union health ministry has urged citizens to “avoid unnecessary travel”. The daily domestic air passenger load, which remained above three lakh since November 5 last year, dropped below the mark on January 4. It has declined further over the past week, with the Ministry of Civil Aviation logging a daily footfall of 2.41 lakh on January 8. IndiGo airline, which is the country’s largest private carrier, on January 9 said it would be reducing its scheduled flight operations by around 20 percent. The decision was taken after considering the decline in demand over the past few days. “With the reduced demand, we will also be selectively withdrawing some of our flights from service,” it said.
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