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Jet Airways’ shrinking market share boosts IndiGo, SpiceJet, DGCA data reveals

Jet Airways’ shrinking market share boosts IndiGo, SpiceJet, DGCA data reveals

Jet Airways’ shrinking market share boosts IndiGo, SpiceJet, DGCA data reveals
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By Wasi Manazir  Apr 30, 2019 3:12:41 PM IST (Updated)

Jet Airways' market share has declined amidst its ongoing struggles, and its domestic rivals, especially IndiGo, have boosted theirs, the latest data from Directorate General of Civil Aviation (DGCA) has revealed.

Jet Airways' market share has declined amidst its ongoing struggles, and its domestic rivals, especially IndiGo, have boosted theirs, the latest data from Directorate General of Civil Aviation (DGCA) has revealed.

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After failing to secure fresh funds from the State Bank of India-led lenders, Jet Airways temporarily suspended all flight operations on April 17. The domestic carrier was teetering on the brink for a long time, encumbered by crushing debt that it was failing to repay.
Jet Airways' failure to secure emergency funding of Rs 400 crore on April 17 was the final nail in its coffin as it announced temporary suspension of services with immediate effect. 
However, Jet Airways’ struggles have provided other domestic carriers to cash in on the vacuum it created. And they have capitalised on it.
IndiGo has been the biggest gainer among the domestic carriers. In the January-March quarter this year, the low-cost airline carried 156.93 lakh passengers compared to 134.23 lakh in the corresponding period last year. Their market share has increased from 39.7 percent to 44.3 percent in the period.
Domestic carriers' market share Domestic carriers' market share
 
IndiGo takes the lion's share of the domestic market with SpiceJet a distant second at 13.6 percent.
Jet Airways, on the other hand, has seen a steep 5.8 percent drop in its market share, declining from 14.8 percent in the first quarter of 2018 to 8.9 percent in the corresponding quarter this year.
Its low-cost subsidiary, JetLite, has also seen a 0.6 percent drop, falling from 2 to 1.4 percent over the one-year period.
Interestingly, the national carrier, Air India, which has debt concerns of its own, has also seen a decline of 0.6 percent in its market share, falling from 13.3 percent to 12.7 percent.
Passengers carried by domestic airlines
Jet Airways’ fate remains up in the air as it looks for bids. Over 16,500 of its employees have been protesting and urging the government to take over the ailing airline and keep it afloat.
Meanwhile, Jet Airways’ problems are giving other carriers an opportunity to spread their wings a little further.
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