Is Indian market slowing down? CAPA revises down domestic traffic forecast for FY2024 down

Domestic traffic forecast for FY2024 has been revised downwards slightly by CAPA from 160mn to 155mn airline passengers, due to the sudden grounding of GoFirst, scaling down of SpiceJet operations, greater focus by IndiGo on international routes, more aircraft on the ground than expected, due to supply chain issues becoming more, rather than less serious, and unexpected weakness in demand during October and first half November.