New Delhi, July 15 -- India's aviation sector is on the cusp of a multi-decade growth trajectory, supported by demographic tailwinds, infrastructure development, and rising consumer demand, Jefferies said in its latest report. Despite temporary hurdles such as safety incidents and supply chain constraints, the brokerage believes the broader structural story remains intact, driven by low air travel penetration and an expanding middle class. To play this, Jefferies continues to like IndiGo's domestic leadership plus the unfolding Int'l expansion and GMR Airports, which is a play on aviation growth, travel retail, land monetisation amid expected moderation on leverage.

According to Jefferies, India has emerged as the third-largest aviation ...