 "IndiGo, SpiceJet up 3% after domestic air traffic crosses 5 lakh on Nov 17")
SpiceJet and InterGlobe aviation (IndiGo) gained up to 3 per cent on Tuesday after domestic air passenger traffic crossed 5,00,000 for the first time in a single day on November 17, 2024, as per reports.
Around 10:23 AM, IndiGo shares were up 2.57 per cent at Rs 4,081 per share and SpiceJet shares were up 2.38 per cent at Rs 57.12 per share on BSE. In comparison, the BSE Sensex was up 1.02 per cent at 78,129.49.
As per reports, the surge in domestic air traffic was amid festive and wedding seasons. Airlines carried 5,05,412 passengers on November 17 and the number of flight departures was at 3,173.
It was the first time that domestic air passenger traffic crossed the 5,00,000 mark in a single day.
In September 2024, domestic air passenger traffic rose 6 per cent to 13 million. Domestic carriers flew 1.30 crore passengers as compared to 1.22 crore passengers which implies 6.38 per cent rise year-on-year (Y-o-Y).
IndiGo's market share in September rose to 63 per cent while that of Air India climbed to 15.1 per cent in September 2024, as per the data released by the Directorate General of Civil Aviation (DGCA).
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Meanwhile, Akasa Air and SpiceJet carried 5.73 lakh and 2.61 lakh passengers, respectively. While Akasa Air's market share stood at 4.4 per cent, that of SpiceJet dropped to 2 per cent.
As many as 48,222 passengers were impacted by flight cancellations and airlines spent Rs 88.14 lakh towards compensation and facilities for them in September.
Flight delays impacted 2,16,484 passengers last month and airlines spent Rs 2.4 crore towards facilitation, as per the data.
For denied boarding, airlines shelled out Rs 75.08 lakh towards compensation and facilities for 756 affected passengers.
Monthly air traffic statistics is a data service providing comprehensive and up-to-date statistics for the global aviation industry, enabling informed decision making.
In the past one year, SpiceJet shares have gained 46 per cent, IndiGo rose 51.2 per cent against Sensex's rise of 17.5 per cent.