The Indian aviation industry demonstrated resilience and growth in 2024. An analysis of traffic data uploaded on the DGCA website reveals notable trends in passenger growth, market dynamics, and operational metrics among domestic airlines. Here’s a comprehensive review of the year, including comparisons to 2023.

6% Domestic Passenger Growth in 2024

Indian airlines carried 161.33 million domestic passengers in 2024, a 6.12% annual growth from 152.03 million in 2023. The monthly passenger growth for December stood 2024 at 8.19%. The industry’s ability to surpass pre-pandemic levels showcases its robust recovery trajectory.

Market Share Insights

IndiGo retained its dominance with a 61.9% market share, carrying 99.9 million domestic passengers in 2024, a 5.4% increase from the 94.85 million passengers it flew domestically in 2023. The airline’s continued emphasis on network expansion and operational efficiency paid dividends.

Air India emerged stronger after its merger with Vistara (effective November 12, 2024), securing a 28% market share. This includes Air India, Express, and all the other subsidiaries, such as Vistara and AirAsia India, combined into one.

SpiceJet registered a 3.7% market share in 2024, with 6 million passengers, dropping from 6.53 million domestic passengers in 2023 due to financial and operational challenges. Akasa Air grew significantly, with a 4.6% market share and 7.381 million domestic passengers, compared to approximately 5 million passengers flown in 2023 domestically.

Smaller airlines, such as Alliance Air, Fly Big, and Fly91, maintained minor shares, catering to niche regional routes.

Passenger Load Factor (PLF)

Passenger load factors improved or remained strong across the board:

• Akasa Air recorded the highest PLF, 93.3%, in December 2024, compared to 91.2% in December 2023.
• IndiGo maintained a consistent PLF, averaging 90.6% in December 2024, about the same as the 90.7% in December 2023.
• Air India, including Vistara post-merger, averaged a robust PLF of 84.7%.

Operational Metrics

• On-Time Performance (OTP): IndiGo led with a 73.4% OTP across major metros in December 2024. Air India Group achieved an OTP of 67.6%. SpiceJet and Akasa Air remained below average at 61.5% and 62.7%, respectively.
• Cancellations: The overall cancellation rate for December 2024 stood at 1.07%. Fly Big, however, experienced a significant challenge with a 19.23% cancellation rate.

Bottomline

2024 was a good year for Indian aviation, but it was also marked by consolidation, robust passenger growth, and operational resilience. IndiGo’s dominance remained unchallenged, while Air India emerged as a stronger competitor post-merger. The 6.12% passenger growth over 2023 signifies a bright future for the sector. As we enter 2025, the focus will likely remain on enhancing operational efficiency, customer satisfaction, and market expansion to cater to India’s ever-growing demand for air travel.

What do you think of the growth of Indian aviation on the domestic side in 2024?

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