Indian Airlines Report Improved Load Factors in November Amid Stable Market Shares
All major Indian airlines achieved improved passenger load factors in November, with Air India recording the highest gain to 87.5% from 77.3%. Market shares remained largely stable, with IndiGo retaining its dominant 63.6% position, Air India at 26.7%, Akasa Air at 4.7%, and SpiceJet at 3.7%. The industry-wide improvement reflects growing passenger demand and effective operational management.

*this image is generated using AI for illustrative purposes only.
The Indian aviation sector demonstrated strong operational performance in November, with all major airlines reporting improved passenger load factors while market shares remained largely stable. The industry-wide improvement in capacity utilization reflects growing passenger demand and effective operational management across carriers.
Market Share Distribution
The competitive landscape in November showed minimal shifts, with IndiGo maintaining its dominant position despite a slight decline. The market share distribution among major carriers was as follows:
| Airline: | November Market Share | October Market Share | Change |
|---|---|---|---|
| IndiGo: | 63.60% | 65.60% | -2.0 percentage points |
| Air India: | 26.70% | 25.70% | +1.0 percentage point |
| Akasa Air: | 4.70% | 5.20% | -0.5 percentage points |
| SpiceJet: | 3.70% | 2.60% | +1.1 percentage points |
Passenger Load Factor Performance
All airlines achieved significant improvements in passenger load factors, with Air India recording the most substantial gain. The load factor performance demonstrates enhanced capacity utilization across the industry:
| Airline: | November PLF | October PLF | Improvement |
|---|---|---|---|
| Air India: | 87.50% | 77.30% | +10.2 percentage points |
| Akasa Air: | 93.80% | 91.20% | +2.6 percentage points |
| IndiGo: | 88.70% | 82.40% | +6.3 percentage points |
| SpiceJet: | 87.70% | 82.20% | +5.5 percentage points |
Industry Performance Analysis
The passenger load factor measures the percentage of an airline's available seats filled by paying passengers, serving as a key indicator of operational efficiency and revenue optimization. The across-the-board improvements suggest strengthening demand for air travel and effective capacity management strategies implemented by carriers.
Future Outlook Considerations
The positive November performance may face challenges in December due to operational disruptions experienced by IndiGo, India's largest airline. The carrier faced significant operational difficulties when new crew rest rules came into effect, resulting in thousands of flight cancellations affecting numerous passengers. Additionally, air pollution and winter fog conditions contributed to further cancellations and delays across the industry during the winter month.
Historical Stock Returns for Spicejet
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -2.55% | -7.93% | -15.32% | -28.15% | -48.40% | -70.68% |
















































