India’s Air Traffic Steady In Feb; March Could Be Hit By Rising Covid-19 Cases: ICICI Securities
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ICICI Securities Report
Total Indian air traffic stands at 7.8 million/45.7 million in February 2021/11-months FY21-to-date.
Market share indicates stability with Interglobe Aviation Ltd. at 54% and Vistara at 6.7%, while Spicejet Ltd./ Go Air / Air Asia declined 50 basis points / 80bps / 20bps on month-on-month basis to 12.3% / 7.4% / 6.7%, as of Feb-21, respectively.
Air India has reported an increase of 140bps on month-on-month basis to 11.7% in Feb-21.
Plant load factors (PLF) have remained sub-80% for all carriers in Feb-21.
Air India Feb-21 PLF at 78% is a positive surprise considering IndiGo, Vistara and Air Asia reported Feb-21 PLFs of 74%, 74% and 68%, respectively.
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