Power: Akasa beats SpiceJet in market share within a year

NEW DELHI: Eleven-month-old Akasa overtook SpiceJet in terms of domestic market share in June 2023. While Vinay Dube’s fast-growing Akasa flew 6. 2 lakh passengers last month, SpiceJet was at 5. 5 lakh.
IndiGo is the domestic market leader with a 63. 2% market share. Tata Group airlines — Air India was second at 9. 7%, Vistara (which is to be merged by AI next year) was third at 8. 1% and AirAsia India fourth at 8%. The Tata Group’s combined share was 25. 8%. Akasa (4. 9%) is now at the fifth spot and SpiceJet at sixth (4. 4%), according to DGCA data. Akasa currently has a fleet of 19 aircraft and the 20th one — which will make it eligible to fly abroad — will come later this month before India’s youngest budget carrier turns one on August 7, 2023. SpiceJet promoter Ajay Singh has been trying to raise funds for months now and promised an infusion of Rs 500 crore on Tuesday while the airline requires a lot more to meet its financial obligations. SpiceJet claims to have 35 operational aircraft at the moment.
DGCA data shows 1. 25 crore people flew within India in June 2023, up almost 19% from 1. 1 crore in same month last year. January to June saw 7. 6 crore domestic passengers, up 33% from 5. 7 crore in same period last year. This despite the GoFirst suspending all flights since May 3, 2023. June is the peak summer travel month and Go’s collapse saw all big airline report over 90% occupancy.

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