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India's air traffic jumps 17.6% to 24.5mn in January–May 2011
The number of passengers carried by domestic carriers in India jumped by 17.6% to
24.5mn in January–May 2011. Jet Airways, Kingfisher Airlines and IndiGo carried more
than 1mn passengers each in May. Jet Airways continued to maintain its leadership
position in the industry with a market share of 26.1% for May, while Kingfisher’s share was
20%. Budget-carriers IndiGo and SpiceJet recorded market shares of 19.9% and 14.2%,
respectively. SpiceJet crossed Air India in terms of market share during the month of May
as Air India slipped one rank to fifth place with a share of 13.2% as its operations were hit
by a pilots strike in early May. Budget-carrier GoAir finished sixth with a 6.6% share. Load
factors of all six firms rose as demand increased during the peak vacation season.
We expect the air traffic in India to rise at a CAGR of 16%-18% for FY2011-13E, on the
back of strong economic growth in the country. Currently we have a Neutral
rating on SpiceJet.
India Equity Research Reports, IPO and Stock News
Visit http://indiaer.blogspot.com/ for complete details �� ��
India's air traffic jumps 17.6% to 24.5mn in January–May 2011
The number of passengers carried by domestic carriers in India jumped by 17.6% to
24.5mn in January–May 2011. Jet Airways, Kingfisher Airlines and IndiGo carried more
than 1mn passengers each in May. Jet Airways continued to maintain its leadership
position in the industry with a market share of 26.1% for May, while Kingfisher’s share was
20%. Budget-carriers IndiGo and SpiceJet recorded market shares of 19.9% and 14.2%,
respectively. SpiceJet crossed Air India in terms of market share during the month of May
as Air India slipped one rank to fifth place with a share of 13.2% as its operations were hit
by a pilots strike in early May. Budget-carrier GoAir finished sixth with a 6.6% share. Load
factors of all six firms rose as demand increased during the peak vacation season.
We expect the air traffic in India to rise at a CAGR of 16%-18% for FY2011-13E, on the
back of strong economic growth in the country. Currently we have a Neutral
rating on SpiceJet.
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