In terms of domestic market share, Akasa, a company just 11 months old, surpassed SpiceJet in June 2023. SpiceJet carried 550,000 passengers last month, compared to 620,000 for Vinay Dube's rapidly expanding Akasa.
IndiGo is the domestic market leader with a 63.2% market share. Tata Group airlines - Air India was second at 9.7%, Vistara (which is to be merged by AI next year) was third at 8. 1% and AirAsia India fourth at 8%. The Tata Group’s combined share was 25. 8%. Akasa (4. 9%) is now at the fifth spot and SpiceJet at sixth (4. 4%), according to DGCA data. Akasa currently has a fleet of 19 aircraft and the 20th one - which will make it eligible to fly abroad - will come later this month before India’s youngest budget carrier turns one on August 7, 2023. Ajay Singh, the promoter of SpiceJet, has been attempting to gather money for months and he agreed to inject £50 million, but the airline needs much more to meet its financial responsibilities. SpiceJet asserts that it now has 35 planes that are flying.
According to DGCA data, 12.5 million people travelled within India in June 2023, increasing over 19% from 11 million in the corresponding month of the previous year. Domestic traveller numbers increased by 33%, or 7.6, from January to June of last year, from 57 million, despite GoFirst, which operates more than 50 aircraft, having stopped all operations as of May 3, 2023.