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IndiGo cancellations add to demand drag as airfares slide to four-year low
Subscribe to enjoy similar stories. Mumbai, New Delhi: India’s domestic airfares slid to a four-year low in the October–December quarter, an unusual outcome for a seasonally strong period, as passenger traffic slowed through the year and demand weakened on non-metro routes.
Analysts also pointed to IndiGo’s wave of cancellations in December as a likely added cause. According to analysts at Elara Capital, airfares slipped about 1% in the October-December period from ₹5,485 last year to ₹5,436 in 2025, even as domestic air travel growth slowed sharply to 3% growth in Q3FY26 compared to the same period in FY25, from 9% in Q3FY25 compared to Q3FY24.
According to Gagan Dixit, aviation, chemicals, oil & gas analyst at Elara Capital, this happened because 300 routes (of 400), which carry about a fifth of India's air traffic, saw a 6% decline in fares in the quarter. “This hints at demand-side concerns in the current high airfare environment," Dixit wrote in a report dated 8 January.
“The decline in airfare prices has been seen in non-metro cities more, while prices remained largely flat in the metro cities." Alongside, data from the aviation regulator—Directorate General of Civil Aviation—showed domestic air traffic declining across successive quarters in 2025, from 43.2 million in January-March, to 42 million in April-June and 38.2 million in the July-September period. Data for October-December is yet to be released by DGCA.
The drop in fares came despite the four major airlines—IndiGo, Tata-backed Air India group, Akasa Air and SpiceJet—operating a combined 550 aircraft during the quarter, 6% higher than the 518 aircraft operated a year ago. Dixit noted that the industry’s passenger load factor (PLF) of 87% remained flat
. Read on livemint.comThe same topic in other media
RBI announces third tranche of stimulus ahead of MPC as rupee hits new low livemint.com / 4 months ago
A matter of public interest: Are India’s dynamic airfares that go up and down fair to everyone? livemint.com / 4 months ago
IndiGo Q3 earnings preview: Flight cancellations cloud investor outlook livemint.com / 4 months ago
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How chronic illness became a starting point for artistic alchemy for Koshy Brahmatmaj
Subscribe to enjoy similar stories.Pain is invisible; the sufferer has to make noise for it to be acknowledged, treated or accepted. Mumbai-based artist Koshy Brahmatmaj, 34, lives with chronic endometriosis, a painful condition that afflicts millions of women around the world.
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Even at $5 trillion, Nvidia is underappreciated
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RK Swamy bets on integrated advertising model as global agency giants split media and creative
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21.05 / 09:47
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FPIs exit Korea & Taiwan: Is India ready for the flow rotation?
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Secured credit cards: Unlocking credit and building a credit score for millions
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