India Aviation - Air Traffic Maintains Strong Trend In February: ICICI Securities

BQ Prime’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BQ Prime’s subscribers an opportunity to expand their understanding of companies, sectors and the economy. .ICICI Securities Report.Average daily number of passenger has risen strongly in February 2023 to 420,000 as against 405,000 in Jan-23. Average daily departures have increased from 2,898 in Jan-23 to 2954 in Feb-23 but average number of passenger per departure has increased from 140 in Jan-23 to 142 indicating better passenger load factors. Interglobe Aviation Ltd. and Tata Group commanded ~81% of domestic market share as of Jan-23 and ~86% of international market share as of Dec-22 (in terms of International pax carried by Indian carriers). IndiGo’s market share dipped 30 bps month-on-month in Jan-23 but broadly remained above 55% levels. TATA airlines’ (Air India, Air Asia and Vistara) market share dipped 80 bps month-on-month in Jan-23 to 26.5%. Akasa/GoAir has witnessed a sharp 50/90 bps sequential increase in its market share to 2.8%/8.4%, respectively.IndiGo/Air Asia/Vistara passenger load factors declined 550/280/250 bps to 82/87/89% in Jan-23 while Akasa/GO/Air India PLFs declined 100/170/180 bps to 83/91/87.5%, respectively. Total international traffic for the month of Dec-22 stood at 2.29 million as against 2.34 million in Dec 2019. Compared to CY19, IndiGo/GO/Vistara International PAX market share has increased from 28/3.4/0.6% to 35.3/5.4/4.8% in CY22. The sharp increase in IndiGo international market share would be on account of closure of Jet Airways which used to command 7.3% market share..Click on the attachment to read the full report:.DISCLAIMERThis report is authored by an external party. BQ Prime does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BQ Prime..Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

India Aviation - Air Traffic Maintains Strong Trend In February: ICICI Securities

IndiGo and Tata group command ~81% domestic market share in January 2023

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