Indigo’s market share rises to 60.5% in March compared to 60.1% in February: DGCA data

Indigo’s market share rose in the month of March 2024 compared to the previous month, according to latest data released by the Directorate General of Civil Aviation (DGCA). The airline registered a market share of 60.5% as compared to 60.1% in February.

Indigo holds the dominant share among domestic airlines. Total number of passengers carried increased to 80.86 lakh in March compared to 76.02 in February.

Air India held the second position in market share at 13.1% for the month of March compared to 12.8% in February. Air India carried 17.47 lakh passengers during the month as compared to 16.17 lakh in February.

DGCA said in a release that passengers carried by domestic airlines between January and March 2024 stood at 391.46 lakh as against 375.04 lakh during the corresponding period of the previous year, registering an annual growth of 4.38% and monthly growth of 3.68%.

During the third quarter of fiscal year 2024, Indigo reported a 30.3% rise in its operating revenues at ₹19,452.1 crore compared to the same period a year ago. Total income for the quarter stood at ₹20062.3 crore, registering an increase of 30.2% on a year-over-year (y-o-y) basis.

For the quarter, passenger ticket revenues stood at ₹17,157.2 crore, witnessing an increase of 30.3% and ancillary revenues came in 23.8% higher at ₹1760 crore. Net profit rose over 110% to ₹2,998.10 crore for the quarter.

Pieter Elbers, CEO of Indigo had pointed out that the year 2023 was marked by numerous milestones. “We served 100 million plus passengers in a calendar year and joined the select club of global carriers operating at this scale. We started operating 2,000 plus daily flights to 118 destinations,” he had said.

Shares of Indigo have gained over 19% since the beginning of the year. The stock has risen over 84% in the last one year.