Domestic market share of airlines across India FY 2024, by passengers carried

India’s aviation sector had increasingly emerged as a fast-growing industry. The sector had established itself as an affordable and credible alternative to the tedious and long journeys via road or rail. With a visible growth trend, it was estimated that by 2034, India would become one of the largest aviation markets in the world. As of financial year 2024, the passenger carrier IndiGo was the leader in the segment with around 62 percent of the market. 

IndiGo - the market leader

The Indian aviation sector handled over 376 million passengers at Indian airports the same year. Jet Airways held the largest market share after IndiGo as of 2018. But the former passenger carrier had suspended operations in April 2019 following financial difficulties, leaving the field open for the latter, with little competition from other players in the market.

A flight for the budget airline market

Indigo airline’s low-cost and no-frills approach to domestic flying has been cited as one of the factors leading to its relative success in India. According to the Directorate-General of Civil Aviation, IndiGo airline carried over 85 million passengers during the fiscal year 2023. It ranked third among the country’s most punctual airlines with above 81 percent on-time arrivals. As a carrier that also had the least complaints from the customers, IndiGo’s popularity with the domestic base was high, soaring towards growth in the years to come.