The Indian domestic air traffic saw a growth of 22.8 percent in August 2023 compared to the same month last year. August also marked the traffic crossing the 1 crore mark this year, up 30 percent compared to the first eight months last year.
Amid this rise, two significant things happened in August in Indian skies.
Vistara, the full-service carrier, recorded a better load factor than SpiceJet, a low-cost carrier. This also halted SpiceJet’s streak of highest load factor for uncountable months, almost all of which were above the 90 percent mark. There have been a handful of months in the past which saw Vistara and SpiceJet being neck and neck, but this time around Vistara managed the push to have higher load factors.
This is not the only laurel for Vistara in August. The airline snatched back the number two position in market share in India with 9.8 percent market share, same as Air India but carrying 5,000 more passengers than Air India – with which it will merge next year. The Competition Commission of India’s approval for the same came on the first of this month.
While the going has been great for Vistara, it was the opposite for Akasa Air, which was celebrating its first birthday month in August. The airline lost passengers and market share and also ceded ground to SpiceJet, thus becoming the last among the major carriers in India. In a market which is growing, it flew one lakh passengers less than the previous month losing one percent market share. The airline also saw its cancellation rate go up to 1.17 percent, the highest amongst major carriers in the country. For benchmarking, AirAsia India had the lowest cancellation rate at 0.03 percent while market leader IndiGo had a cancellation rate of 0.59 percent in August.
14/09/2023 Ameya Joshi/Moneycontrol
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