MUMBAI: India’s rapid growth in air travel market has fizzled out in March with the descent of insolvent airline Jet Airways (India) Ltd., the market share of which has been cornered by rivals.
Data released by aviation regulator the Directorate General of Civil Aviation (DGCA) on Monday showed that the passenger growth which showed a 9% increase in January 2019 at over 12.5 million passengers from the same time a year ago, has fallen by more than half to 5.6% in February and then to a paltry figure of 0.14% in March. In February, airlines had carried 11.35 million passengers and 11.59 million in March.
The data also showed that major domestic carriers Air India, Vistara and IndiGo have improved their market share in March from the levels seen in January.
