IndiGo share price zooms 6% after firm retains highest market share in December

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Published: January 22, 2019 5:16:08 PM

Shares of India's major low cost airline gained in trade on Tuesday, after the firm retained the top spot in terms of market share in the month of December.

indigo offer, new year new sale, cheap flights, flights at 899, cheapest air fare india, mobiKwik offer for IndigoIndiGo shares gained by nearly 6% to intra-day high of Rs 1,126.40 on BSE.(Image: Reuters)

Shares of India’s major low cost airline gained in trade on Tuesday, after the firm retained the top spot in terms of market share in the month of December. IndiGo shares gained by nearly 6% to intra-day high of Rs 1,126.40 on BSE. According to latest figures provided by Directorate General of Civil Aviation (DGCA), IndiGo’s market share has increased marginally to 43.2% from 43% in the month of November.

Notably, the airline is scheduled to report Q3 results tomorrow. IndiGo’s huge market share is followed by state-run carrier Air India (12.4%), SpiceJet (12.3%) and Jet Airways (12.2%). GoAir’s market share came in at 8.8%. For the calendar year 2018, IndiGo held on to the highest market share of 41.5%, with Jet Airways coming at the second spot (13.8%), followed by state-run Air India (12.7%). SpiceJet (12.3%), GoAir (9%) were the next on the list.

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DGCA noted that the domestic aviation sector grew 18.6% on-year during the month of December 2018, against the same period last year. “Passengers carried by domestic airlines during Jan-Dec 2018 were 1389.76 lakhs as against 1171.76 lakhs during the corresponding period of previous year thereby registering a growth of 18.60%,” DGCA said in the report.

During Dec 2018, a total of 803 passenger related complaints had been received by the scheduled domestic airlines. The number of complaints per 10,000 passengers carried for the month of Dec 2018 has been around 0.63, DGCA added in its report.Budget carrier SpiceJet recorded the highest load factor during the December at 92.7%, closely followed by IndiGo at 88.9%. The load factor for Air India came in at 81.2% in December.

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