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India's jet fuel demand is ready for take-off as the country plans to open its doors to international tourists and forms more air travel bubbles, while domestic travel has surged as the local Covid-19 situation has mostly stabilised.
"We expect India's Q4 kerosene/jet demand to grow by 33 per cent over the previous quarter but that will still be some 24 per cent below pre-pandemic levels of Q4 2019 in absence of full-fledged opening up of international travel," Shreyans Baid, South Asia oil market analyst with S&P Global Platts Analytics said.
According to the latest data from India's Directorate General of Civil Aviation, or DGCA, passengers carried by domestic airlines in October rose 70.46 per cent month on month and those carried during January-October registered an annual growth of 25.88 per cent.
"Indian refiners expect a higher run in the coming months on improved demand for aviation fuels as domestic airlines have started flights to international routes with the relaxation in coronavirus protocols,” oil ministry officials said November 23, adding that demand has also received an impetus as the threat of a third wave of Covid-19 has receded, according to S&P Global Platts Analytics
"There is a lot of travel optimism due to loosened restrictions, pent-up leisure demand combined with festive and marriage season in India," Baid said
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