The government has set minimum and maximum fares for domestic flights and these are applicable for up to a fortnight
The ratings agency also estimates that the industry will require an additional funding in the range of Rs 20,000-22,000 crore during FY22-FY24
The airline, which currently has 50 planes, aims to have 70 planes by the end of 2023 after taking into account some aircraft that will be returned to lessors
The country's civil aviation sector was significantly impacted by the coronavirus pandemic and the sector's loss was around Rs 19,000 crore in the last fiscal ended March 2021
The rating agency said it is expecting the recovery process to remain subdued during March quarter and that the jet fuel prices continue to be a drag on the sector
This would be 44% higher than the Rs 13,853 crore loss reported last year, agency says
While IndiGo continues to retain the top spot in market share, Go First overtook SpiceJet
Airfares on certain routes are up by 30-45% higher during Diwali. This and more on our top headlines today
Increased occupancy coupled with upward revision in fare bands by the government has translated into higher fares during the festive season
Over 327,000 passengers took 2,372 flights, half of which were operated by IndiGo
The move will enable airlines to operate more flights and will push up passenger loads with the onset of festive season next month
Industry wise seat occupancy in August stood at 70.2 per cent
This is aimed at improving accessibility between metros and tier-2 or tier-3 cities.
While IndiGo carried 2.9 million passengers in July, a 58.6 per cent share of the domestic market, SpiceJet flew 456,000 passengers
Govt price cap was effective till July 31 and it was reintroduced Sunday evening, giving airlines time to sell their inventory at competitive prices
Average load factors are still around 55% and most of the bookings are for travel within seven days
Rise in passenger uptake expected to be swifter than it was after 1st wave
Decision divides industry with experts calling it interference in commercial freedom of airlines
Domestic air travel is set to become costlier as the Civil Aviation Ministry on Friday raised the lower limit on fares by 13 to 16 per cent, according to an official order
With the rise in the cases across metros, new restrictions cannot be ruled out that could further impact the traffic movement, ICRA said.