Indian budget airline SpiceJet has seen an unprecedented decline in its domestic market share, plummeting to just 0.6% in September. This marks a significant fall from 3.9% recorded in January and February, placing the carrier below regional airline Star Air for the first time.
According to data released by the Directorate General of Civil Aviation (DGCA), Star Air held a 0.7% market share in September, surpassing SpiceJet's struggling performance. This shift underscores a dramatic nine-month period for SpiceJet, which has witnessed a near-continuous drop in its share of the domestic aviation market.
SpiceJet's Steep Descent in Passenger Numbers
The airline's passenger count reflects this sharp decline. In January, SpiceJet transported 5.92 million passengers, a figure that dwindled to just 730,000 by September. This consistent reduction highlights significant operational challenges and reduced flight schedules.
- January: 3.9% market share
- February: 3.9% market share
- March: 3.8% market share
- April: 3.4% market share
- May: 2.5% market share
- June: 1.9% market share
- July: 1.6% market share
- August: 1.2% market share
- September: 0.6% market share
Star Air's Steady Ascent
In contrast to SpiceJet's struggles, Star Air has maintained a modest but stable presence, seeing its market share rise to 0.7% by June and holding that position through September. This steady performance allowed the regional carrier to overtake the beleaguered SpiceJet in a critical market metric.
Broader Market Trends and Dominance
Despite the shifts among smaller players, IndiGo continues to dominate India’s domestic aviation sector, commanding a 65.4% market share in September. The Air India Group, comprising Air India and Air India Express, held a combined 26.8% share, while newer entrant Akasa Air secured 5.6%.
Overall, the Indian domestic aviation market experienced a slight contraction, with airlines carrying 11.823 million passengers in September, a 6.49% decrease year-on-year. For the period of January to September, domestic passenger traffic stood at 122.353 million, down 0.82% compared to the same period last year. High airfares, fueled by increased fuel costs and rupee depreciation, have been cited as contributing factors to the overall dip in passenger traffic.