Vistara's last flight: Why Indian aviation remains a two-plane race?
While more and more Indians take to flying even as the government builds airports at a breakneck speed to connect small cities and remote places, India's aviation sector remains dominated by just two big players who hold between them more than 90% of the market share. IndiGo's market share rose to 63 per cent in September while the overall domestic market share of Air India Group comprising Air India, AIX Connect and Vistara touched 29.2 per cent. While Akasa Air's market share stood at 4.4 per cent, that of SpiceJet was at 2 per cent. As Vistara folds up into the Air India Group today, the number of full-service carriers in the fast-growing Indian aviation space will come down to just one from five in a span of over 17 years. In the last 12 years, three Indian airlines Kingfisher, Jet Airways and Go First went bankrupt.
Also Read: A shake-up in Indian skies: Vistara bows out, IndiGo goes premium
Ironically, Indian airlines are unable to match growing passenger demand. ET reported last month that Indian carriers will deploy barely 5% more capacity this winter even though passenger demand is expected to increase during the festival and year-end season.
A squeeze on passengers?
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