Stocks of airlines of India moved mixed after the release of July air traffic data

Stocks of aviation companies — InterGlobe Aviation, Jet Airways, SpiceJet — moved mixed on Friday, August 19 after the Directorate General of Civil Aviation released the data for July on Thursday, August 18.

Shares of IndiGo’s parent company, InterGlobe Aviation, fell 2.37% and touched an intraday low of INR 1,974.65. Jet Airways stock jumped 4.5%, and SpiceJet fell 1.4%.

According to the data released, domestic airlines carried 97.05 lakh passengers in July, a 7.7% decline compared to June. Overall, 6.69 crore people travelled on domestic flights in the January-July period of 2022.

Stocks of airlines of India moved mixed after the release of July air traffic data

ALSO READ – Vistara becomes the No.2 carrier by market share in July

IndiGo’s market share continued to rise and held the largest share, followed by Vistara, Air India, and GoFIRST.

Vistara whizzed past rivals SpiceJet and Go First, both of whom have grounded planes and cut flights, to become India’s No.2 carrier by market share in July. The airline is Tata Sons’ joint venture with Singapore Airlines.

IndiGo – India’s largest carrier – carried 57.11 lakh passengers in July, a 58.8% share of the domestic market. Vistara flew 10.13 lakh passengers and Air India flew 8.14 lakh passengers in July this year, according to the data shared by the DGCA.

The occupancy rate of Vistara, IndiGo, Go First, AirAsia India and Air India was 84.3%, 77.7%, 76.5%, 75.2% and 71.1%, respectively

Go First, SpiceJet, AirAsia India and Alliance Air carried 7.95 lakh, 7.76 lakh, 4.42 lakh, and 1.12 lakh passengers, respectively, in July, the data showed.

However,  the passenger load factor (PLF) — which assesses how efficiently a transport provider fills seats and generates fare revenue — fell for IndiGo, AirAsia India, and GoFIRST in July month-on-month. Vistara and SpiceJet reported a rise in PLF.

The occupancy rate or load factor for SpiceJet was 84.7% in July, the DGCA noted. The occupancy rate of Vistara, IndiGo, Go First, AirAsia India and Air India was 84.3%, 77.7%, 76.5%, 75.2% and 71.1%, respectively, in July, it added.

(With Inputs from CNBC TV18)

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