VN Research & Consulting
 Like us on facebook  Follow us on twitter  Follow us on LinkedIn  IndiaNotes on Google Plus  IndiaNotes on Pinterest  IndiaNotes on Stumbleupon  Subscribe to our feeds

Stocks  A | B | C | D | E | F | G | H | I | J | K | L | M | N | O | P | Q | R | S | T | U | V | W | X | Y | Z
You are here : IndiaNotes >> Market Action >> Fundamental

Sector Update: Aviation; Apr-16 domestic passenger growth at 21% YoY

Motilal Oswal | 27 May, 2016  | Follow Author | Add to my Favourites 
  • Rate this article
    (Average Rating 0.0 Based on 0 ratings)

Apr-16 domestic passenger growth at 21% YoY

Domestic load factor at 84%; IndiGo’s domestic ASK and RPK shares highest

-    India domestic passengers grew at 21% YoY in Apr-16 (vs 25% in Mar-16 and 22% in FY16) with 7.9m passengers.

-    While Apr-16 ASK growth was at 20% YoY (16% in FY16), RPK increased 21% YoY (22% in FY16).

-    Load factors stood at 84.1%in Apr-16 (compared to 82.9% in FY16).

Domestic air passenger growth at 21% YoY in Apr-16

-    India’s domestic passenger growth stood at 21% YoY with 7.9m passengers carried in Apr-16. Domestic passengers have increased at above 20% for last six months consecutively.

-    Jet Airways’s passenger volumes continued on the downward trajectory in Apr- 16, after marginal decline in Mar-16; passengers declined by 1.1% YoY. SpiceJet’s volumes grew at 44% YoY in Apr-16 (last 3 month avg of 71%), though the growth rate seems to be moderating due to consistently higher bases.

-    In Apr-16, passenger volumes for Indigo grew at 24% (+32% in Mar-16), GoAir at 18% (+19% in Mar-16) and Air India at 12% (+10% in Mar-16).

IndiGo’s passenger market share remains highest at ~39%

-    IndiGo continued to chip away passenger market share from others; market share increased to 38.8% in Apr-16 (vs 38.6% in Mar-16). Market share has exceeded 35% since Dec-14 and could cross its highest ever of 39.0% shortly.

-    Market share of other airlines marginally increased except Jet

   -   Jet’s share at 18.9% in Apr-16 (20.3% in Mar-16) has continued to decline.

   -   SpiceJet’s share stood at 12.9% in Apr-16 (12.8% in Mar-16).

   -   Air India’s share increased to 14.8% in Apr-16 (14.4% in Mar-16)

Domestic ASKs increased 20% YoY in Apr-16 (vs 16% in FY16)

-    SpiceJet’s domestic ASK grew at 37% due to low base last year (vs 51% in Mar- 16 and 63% in Feb-16).

-    IndiGo’s ASKs increased by 23% YoY, followed by Go Air’s growth of 8%.

-    While Jet’s ASKs grew at 6.6% YoY in Apr-16, ASKs declined on a monthly basis; at 7% excl. JetLite. Due to absence of increase in international ASKs we do not think that the decline was due to shift in capacity to international routes.

-    IndiGo’ domestic ASK share stood at its highest of 40.9%.

Domestic RPKs increased 21% YoY in Apr-16 (vs 22% in FY16)

-    SpiceJet’s domestic RPK grew at 44% YoY.

-    IndiGo’s RPK grew at 24% in Apr-16. Market share increased to 41.7% in Apr-16 (its previous highest, achieved last time in May-15).

-    Jet Airways’s RPKs increased by 2% in Apr-16 but declined monthly. Go Air’sRPK grew at 16%in Apr followed by Air India’s RPK growth at 9% in Apr-16.

  Read full report Click here to read the full report

About Motilal Oswal

Motilal Oswal was founded in 1987 as a small sub-broking unit, with just two people running the show. Today it has a 2000 member team with a networth of Rs7 bn and market capitalization as of March 31, 2008 at Rs19 bn.


For more information please write in to [email protected]

Disclaimer: The author has taken due care and caution to compile and analyse the data. The opinions expressed above are only the views of the author, and not a recommendation to buy or sell. Neither the author nor accept any liability whatsoever arising from the use of any of the above contents.

Technical Calls

What are technical calls?

Other Articles

Have a question?