India’s aviation sector has witnessed a robust growth of 12% year-on-year in domestic air passenger traffic during November 2024, as reported by brokerage firm Jefferies. On November 17, the sector marked a significant milestone with over 5.05 lakh passengers traveling domestically in a single day, facilitated by over 3,100 flights. This achievement underscores India’s growing prominence in global aviation.
IndiGo’s Leadership: IndiGo, the sector leader, carried an impressive 86.40 lakh passengers in November, claiming a record market share of 63.6%. Its passenger load factor (PLF) reached 90%, marking its second-best November performance in five years. Jefferies projects further growth for IndiGo, attributing it to the airline’s operational efficiency and extensive domestic network.
Other Industry Highlights:
- Tata Group-run airlines, Air India and Vistara, accounted for 28.5% of domestic traffic in October 2024. However, Air India’s market share dropped to an 11-month low of 27.3% in November.
- SpiceJet and Akasa Air reported slight market share increases of 60 basis points and 20 basis points, respectively.
- Aviation turbine fuel (ATF) prices remained stable, providing cost benefits to the sector.
Stock Performance: As of 11:37 AM, IndiGo’s shares were trading at ₹4,635.20, up 4.42% from the previous close of ₹4,439.95 on the NSE. The stock has demonstrated significant growth, with a year-to-date increase of 54.54%, solidifying IndiGo’s position as a key player in India’s booming aviation sector.
Stock Details:
- Current Price: ₹4,635.20
- Day’s Range: ₹4,435.00 – ₹4,667.90
- Year Range: ₹2,847.00 – ₹5,035.00
- Market Cap: ₹1.79 trillion
- P/E Ratio: 27.03
IndiGo’s performance highlights its dominance and operational strength, further supported by a promising outlook for the Indian aviation industry.
