SpiceJet shares soar 5.5%, while IndiGo rises despite January market share dip

16 Feb 2024 , 01:12 PM

Even though the airline lost some market share in January, IndiGo operator Interglobe Aviation’s shares were up early on February 16.

SpiceJet’s stock increased by 5.5% during the course of the time, as the financially strapped airline was able to maintain its 5.6% market share. 

According to data from the Directorate General of Civil Aviation (DGCA), IndiGo, the airline with the most market share, saw a minor decline in January, falling to 60.2% from 61.8% the month before.

In December, IndiGo’s passenger load factor was 90.7%, while SpiceJet’s was 93.7%, compared to 93.5%.

At 12.20 pm, SpiceJet’s stock was at ₹70.71, up 11.15% from the closing price of the previous session, while IndiGo was trading at ₹3030.5 on the BSE, up 0.038%.

In January, 3.67% of domestic carriers experienced cancellations. 

The percentage of flights cancelled by IndiGo was 5%, SpiceJet had 3.48%, Air India had 2.06%, while Vistara and Akasa Air had 0.86 and 0.17%, respectively.

According to sources, IndiGo was in discussions with the government on February 15 to decrease cancellations to and from the Mumbai airport. According to government orders, the airline was probably going to cancel six or twelve flights from the Mumbai airport.

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