Domestic air passenger traffic in India reached a historic high of 505,412 passengers on November 17, 2024, marking the first time the 500,000 threshold was crossed in a single day. The milestone reflects robust demand driven by the ongoing festive and wedding seasons, bolstering airline stocks like InterGlobe Aviation (IndiGo).
Key Highlights:
- Historic Milestone:
- Over 505,000 passengers were flown on 3,173 flights on November 17, 2024.
- The record follows consistent growth in daily passenger numbers over the last two weeks.
- Daily Passenger Traffic Growth:
- November 8: 490,000 passengers.
- November 15: 499,000 passengers.
- November 17: 505,412 passengers.
- Festive and Wedding Season Boost:
- Traffic shifted from Diwali-related travel to post-Diwali movement, coinciding with the start of the wedding season.
- Consumer travel patterns evolved from school holiday trips to festival and wedding journeys.
IndiGo Performance and Industry Outlook:
While IndiGo faced a Q2 FY25 loss, ending its seven-quarter profit streak, the latest passenger milestone provides optimism for the airline’s recovery. The loss was attributed to normalized yields compared to previously high-yield periods, as reported by Hindustan Times.
November Operational Stats:
- Average Daily Flights: 3,161, up by eight flights compared to October.
- While current flight operations remain slightly below peak Diwali levels, November’s deployment reflects strong recovery and sustained demand.
This milestone underscores India’s growing aviation market, driven by consumer demand and expanding connectivity, positioning airlines like IndiGo for potential growth in the coming quarters.
As of 9:21 am the shares were trading 2.27% higher at ₹4,067.15 on NSE.
