India’s largest air carrier IndiGo plans to have a fleet of 350 aircraft by the end of FY24, an increase of 14% year-on-year.
The company further said it aims to double in size and scale by 2030.
The carrier, having a market share of 55% in the domestic market, will exit FY23 with a fleet size of 306 aircraft, it said in a presentation shared at the analyst meet on Thursday.
As many as 490 aircraft are set to join its fleet by the end of the decade, including several Airbus XLRs, which will help it reach Europe.
FY24 is also estimated to mark 100 million passengers for the company, up 18% from 85 million estimated to have ferried in FY23. It also wants to add 10-15 destinations by the end of FY24 to its current tally of 104 destinations, including 78 domestic and the balance being international.
IndiGo has code-share agreements with seven airlines and is looking to add more partners. Turkish Airlines remains the only airline with a two-way codeshare, whereas five such as Qatar Airways, American Airlines, Air France KLM, Qantas, Virgin Atlantic, have one-way codeshare and one interline cooperation with Jetstar.
IndiGo is looking to increase its available seat kilometre of ASK (a measure of an airline’s carrying capacity to generate revenue) to 30% in the next 1-2 years from little over 20% now.
The expansion will lead to a frenzied hiring by the airline. The company would need more than 5,000 people during the upcoming year which would add to its current total of 32,000 employees.