At a Confederation of Indian Industry event on May 24 last year, Aviation Minister Jyotiraditya Scindia advised Indian carriers to prioritise expanding their international flight operations due to the tight margins in the domestic aviation market, largely driven by intense competition. This counsel resonated well with aviation executives, who had already been pursuing this strategy since the lifting of pandemic-induced restrictions on Indian aviation in 2022.
The impact is evident in the growing market share of Indian carriers in the international air passenger traffic connecting India. According to aviation analytics firm Cirium, the five major Indian carriers IndiGo, Air India, Air India Express, Vistara, and SpiceJet - accounted for 40.94 per cent of international flights to and from India in March 2020, just before the pandemic-induced restrictions took hold. By March 2023, their combined share had risen to 46.15 per cent.
"Indeed our growth over the same time last year has been faster in international versus domestic," a spokesperson for IndiGo told Business Standard. "Some of this is because our post-Covid schedule recovery was already largely complete in domestic last year, while there were still elements of international that were yet to be completely recovered - something that has been achieved and surpassed this year."
Base effect
Cirium's data also underscores the point regarding domestic recovery.
Bu hikaye Business Standard dergisinin April 01, 2024 sayısından alınmıştır.
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Bu hikaye Business Standard dergisinin April 01, 2024 sayısından alınmıştır.
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