According to Directorate General of Civil Aviation (DGCA)for the first time in 6 years in April, the world’s fastest-growing aviation markets fell. The month that India’s oldest airline Jet Airways grounded operations.
Jet’s grounding, however, helped bigger rival IndiGo to control 50% of the Indian domestic market, followed at a considerable distance by Air India and SpiceJet.
In April, Indian carriers flew 11.3 million passengers flew by Indian carriers locally in April, and last year in the same month down about 2% from 11.5 million, according to data free by the country’s aviation regulator board General of Civil Aviation (DGCA). The last time traffic declined was in June 2013—3% to 4.86 million passengers, after Vijay Mallya’s Kingfisher Airlines shut shop. Local traffic in March 2019 exaggerated a small indefinite quantity to 11.60 million from 11.58 million in the same month the previous year. Traffic rate of growth, till last year at robust double digits, had fallen to low single digits since February.
In February it started grounded large swathes of its capacity in More than 800 daily flights were pulled out of the market. Leading to a capability cut, which ultimately shrank the market in April. On April 17, Jet grounded its operations, running out of money and failing to raise funds to stay afloat.
Jet’s key slots and several other planes, de-registered due to nonpayment of lease rentals, have been allocated on a temporary basis to rival carriers. This will seemingly cause a remarkable reshuffle in market share within the returning months.
In April, Jet received the highest passenger complaints, 52.9 for every 10,000 passengers, primarily related to refunds for cancelled flights. On that matrix, the number of its peers was negligible: one.6 for Air Asian nation and fewer than one for others.