MUMBAI- Late Rakesh Jhunjhunwala backed Eleven-month-old Akasa Air (QP) surpassed SpiceJet (SG) in terms of domestic market share in June 2023.
India’s youngest and greenest airline made its first commercial flight on August 7, 2022. The airline made its inaugural flight from Mumbai (BOM) to Ahmedabad (AMD). In less than a year, the airline now has 19 aircraft, serving 16 destinations in India.
Akasa Air Overtakes SpiceJet in Market Share
In a remarkable feat, Akasa, led by Vinay Dube, recorded a total of 6.2 lakh passengers last month, outperforming SpiceJet, which reported 5.5 lakh passengers.
IndiGo (6E) continues to dominate the domestic market with an impressive market share of 63.2%. Air India (AI), a part of the Tata Group, secured the second position with 9.7%, followed by Vistara (UK) at 8.1% and AirAsia India (I5) at 8%.
The Tata Group’s airlines held a significant share of 25.8%. Akasa, at 4.9%, has now claimed the fifth spot, while SpiceJet lags behind at sixth place with 4.4%, according to data from the Directorate General of Civil Aviation (DGCA).
With a current fleet of 19 aircraft, Akasa is set to add its 20th aircraft later this month, making it eligible for international operations. This significant milestone will be achieved just in time for the airline’s first anniversary on August 7, 2023.
Decline of SpiceJet
SpiceJet, under the leadership of promoter Ajay Singh, has been grappling with financial constraints. Despite promising an infusion of Rs 500 crore on Tuesday, the airline still requires additional funds to meet its financial obligations. Currently, SpiceJet boasts 35 operational aircraft.
DGCA data indicates a notable increase in domestic air travel, with 1.25 crore people flying within India in June 2023, a growth of nearly 19% compared to the same month last year.
From January to June, the total number of domestic passengers reached 7.6 crore, marking a remarkable 33% surge from the same period last year.
Despite Go First (G8) suspending all flights on May 3, 2023, June, being a peak summer travel month, witnessed high demand. With the sudden collapse of G8, all major airlines reported over 90% occupancy.
Feature Image: Siddh Dhuri (@mumbaiplanes) on Instagram
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