IndiGo Hits 63.3% Market Share, Teams Up with Japan Airlines

Shares of InterGlobe Aviation, the operator of IndiGo, climbed over 1% to ₹4,295 on November 26, following the airline achieving its highest market share of the year at 63.3% in October. Adding to its momentum, IndiGo announced a codeshare partnership with Japan Airlines (JAL), which will commence on December 16. 

Invest in Indian Markets and Unlock Future Potential With 5paisa!

Open Account Now

This partnership will enable JAL to expand its reach to 18 domestic destinations within IndiGo’s network. Under the agreement, tickets can be booked using either airline's flight number, even if operated by the partner, allowing both carriers to extend their services seamlessly across each other’s networks. JAL currently operates daily flights between Tokyo (Haneda) and Delhi and five weekly flights between Tokyo (Narita) and Bengaluru, with codesharing set to begin on domestic routes linked to these cities.

IndiGo has existing codeshare agreements with leading carriers such as British Airways, Turkish Airlines, Qatar Airways, and Air France-KLM. In October, the airline transported 86.40 lakh passengers, maintaining its leadership in the domestic market. Overall, India’s domestic air traffic grew by 5.3% year-on-year, reaching 1.36 crore passengers in October compared to 1.26 crore a year earlier. 

IndiGo’s dominance was followed by Air India, which carried 26.48 lakh passengers with a market share of 19.5%, and Vistara, which transported 12.43 lakh passengers for a 9.1% share. SpiceJet managed a modest 2.4% market share, carrying 3.35 lakh passengers, while Akasa Air captured 4.5% with 6.16 lakh passengers.

In the September quarter, IndiGo reported a net loss of ₹986 crore, attributed to increased fuel costs and a record number of grounded aircraft. Despite this setback, its revenue from operations grew by 13.6% year-on-year to ₹16,969 crore in Q2FY25. 

Over the year, IndiGo’s stock has surged 40%, significantly outperforming the Nifty 50 index's 10% gain. However, the stock has seen a decline of nearly 10% in the past three months.

Operationally, IndiGo excelled in on-time performance (OTP), achieving a rate of 71.9% across the four major metro airports—Delhi, Mumbai, Bengaluru, and Hyderabad. In contrast, Alliance Air had the lowest OTP among six major airlines, at 54.4%, according to DGCA data.

IndiGo has also introduced a Student Special program, designed to make air travel more affordable and convenient for students. This offer, which is exclusive to IndiGo’s website and app, provides benefits like lower fares and additional luggage allowances. 

Vinay Malhotra, in an official statement, emphasized that the airline is committed to meeting the unique needs of students by offering a product that is accessible, flexible, and supportive. He expressed pride in IndiGo’s role in making student travel easier and contributing to their journey as they pursue their aspirations.