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Shares of SpiceJet and IndiGo jumped on strong July passenger data. According to the data released by the Directorate General of Civil Aviation, passengers carried by domestic airlines in July rose 20.8 per cent y/y.
SpiceJet had the highest load factor of 93.8 per cent compared with IndiGo's 88.7 per cent. Jet Airways (India) Ltd posted a load factor of 83.9 per cent, while national carrier Air India's was at 82.3 per cent.
IndiGo's market share was highest at 42.1 per cent, up from 38.7 per cent last year, way ahead of SpiceJet at 12.3 per cent. Jet Airways’ market share fell to 13.6 per cent from 15.8 per cent last year.
SpiceJet shares jumped as much as 3 per cent, while IndiGo owner InterGlobe Aviation rose as much as 1.6 per cent.
Jet Airways shares fell as much as 2.5 per cent to Rs 293.95 after a media report said that the Corporate Affairs Ministry is probing the allegations of siphoning of funds at the airline. Jet Airways has denied receiving any communication from the Ministry.
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