Today, we examine the Indian airline industry’s prospects for the future as well as the leading players in the sector. By 2024, this industry would have contributed close to $72 billion to India’s GDP and will be the third-largest market for air travellers. These promising futures are mostly the result of unrealized potential, given that the majority of the population still views air travel as expensive, although this will change as the economy of the nation develops. The Indian government has permitted 100% FDI in certain areas after seeing their potential. Government clearance will be needed for investments greater than 49%, though. By 2026, the Indian government also intends to invest up to $1.82 billion in the expansion of aviation navigation services and airport infrastructure. Now, let us see some of the top airline companies in India that are dominating the market.
In a ranking of top airline companies in India, Indigo comes first. This is a low-cost airline with its main office in Gurgaon, Haryana, India. The airline was established in 2006 as a privately held business by Indian national Rakesh Gangwal and Rahul Bhatia of InterGlobe Enterprises. The airline received its first aircraft in July 2006, and a month later in August 2006, it started flying. According to the passenger market share, the airline surpassed all others in India in 2012. In November 2015, the airline became limited and sold shares to the general public.
By the number of passengers transported and fleet size, Indigo is the largest airline in India. As of June 2019, it has a maximum of 48.1% domestic market share. In terms of the number of passengers carried and the size of its jet fleet, Indigo is the largest only Asian low-cost carrier.
In terms of the number of domestic passengers it transports, Spice Jet is the second-largest airline in India, with a market share of 13.6% as of July 2020; hence listing in our top airline companies in India. Its market value as of now is Rs 3,085.41 Cr. With support from Lufthansa, the airline was founded as ModiLuft in 1994, but it discontinued operations in 1996. The business was purchased by Indian businessman Ajay Singh in 2004 and given the new moniker SpiceJet. SpiceJet began operating with two leased aircraft and now has a fleet of more than 90.
Aah! Air India. Without the national airline, this list of the best airline companies in India is incomplete. Over 90 domestic and international locations are served by this government-owned airline. In terms of passengers, it is the third-largest domestic airline in the nation and had a market share of 13.3% in that year. Air India operates its domestic and Asian destination flights through its subsidiaries, Alliance Air and Air India Express, from its hub at Indira Gandhi International Airport in New Delhi. In addition to offering plenty of in-flight entertainment, the airline also operates Flying Returns, a frequent flyer programme, in practically all of India’s major cities.
On the list of the top airline companies in India, GoAir is ranked fifth. The airline was founded by Indian entrepreneur Jeh Wadia in November 2005. The Wadia Group, which completely controls the airline, is one of its subsidiaries. The company GoAir opened for operation in November 2005.
GoAir will have 9% of the market throughout the 2019 fiscal year. Airbus A320 aircraft operated by GoAir are configured for all economies. GoAir has over 325 daily flights as of March 2020, with 38 destinations—27 domestic and 11 international—to choose from. Bangalore, Kannur, Delhi, Mumbai, Kolkata, and Kolkata serve as the airline’s hubs.
On the ranking of the top airline companies in India, Air India Express is ranked seventh. An inexpensive airline in India is called Air India Express. Its headquarters are in Kochi, Kerala. The airline is operated by Air India Express Limited (AIEL), which is completely owned by Air India, the national carrier of India.
About 649 flights every week by Air India Express go to 33 different cities. The Middle East and Southeast Asia have some of the most significant ones. The airline is used by over 4.3 million people yearly. The fleet of the company consists of 25 Boeing 737-800 aircraft.
Regional airline Alliance Air is owned by Air India Airlines and is a division of the latter. In 1996, the airline was founded. It generally flies domestic routes as part of the government’s Regional Connectivity Scheme (UDAN Scheme). By March 2020, Alliance Air will have 64 destinations. It operates regional services in India out of hubs in Bengaluru, Chennai, Delhi, Hyderabad, Jaipur, Kolkata, and Mumbai. 18 ATR 72-600 aircraft and two ATR 42-320 aircraft are owned by Alliance Air.
In January 2019, the Indian commuter airline Star Air, which was founded in 2017, started operating flights from Bangalore, Karnataka’s Kempegowda International Airport. The airline has started providing flights inside Karnataka state as well as neighbouring Andhra Pradesh and Gujarat as a part of the Central Government’s UDAN scheme.
Six Indian cities are served by the airline. Bangalore’s Kempegowda International Airport serves as its main hub. Star Air owns two Embraer ERJ-145 aircraft as of July 2019. 50 seats are on each aeroplane.
An Indian full-service airline with its hub at Indira Gandhi International Airport is Tata SIA Airlines Limited, doing business as Vistara. It is situated in Gurgaon. The carrier, a partnership between Singapore Airlines and Tata Sons, launched operations on January 9th, 2015, with a service between Delhi and Mumbai.
By June 2016, the airline had carried over two million passengers, and as of May 2019, it has a 4.7% market share for domestic carriers, placing it as the sixth-largest domestic airline. The airline operates a fleet of Airbus A320 and Boeing 737-800NG aircraft that travel to twenty-four different locations.
An airline is a business that facilitates air transportation of passengers and cargo. Most airlines are recognised by a federal aviation organisation. Airlines have been forming alliances and joining forces on a regular basis since the 1980s. We hope that this list of top airline companies in India was useful for you to learn more about this significant market.