With a rising middle class and increasing air travel demand, Indian aviation industry is undergoing a massive transformation. The domestic aviation market in India is among the fastest-growing markets globally and has already become the third-largest aviation market after the United States and China as of 2024. According to market research estimates, the Indian aviation sector is expected to see year-on-year revenue growth of 15-20% in FY24 and 10-15% in FY25. Top Airlines in India feature key players like IndiGo, Air India, Akasa Air, SpiceJet, and Vistara, each with a unique operational model.
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During the last 10 years, the country has doubled the number of departing seats to 23 crore. This growth has been suitably aided by Government initiatives, such as the Regional Connectivity Scheme (RCS-UDAN) which has resulted in enhanced regional connectivity and improved infrastructure in underserved areas. Starting in October 2016, the UDAN scheme has been extended for another 10 years, giving thrust to airport modernization and technology integration. The government aims to increase the number of airports in India from 157 to 400 by 2047.
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Top 5 Airlines in India
1. IndiGo – Biggest Airlines in India
IndiGo Airlines – officially known as InterGlobe Aviation – is the largest airline in India in terms of both passengers carried and fleet size, commanding an impressive 62% market share of airlines in India as of July 2024. The company is known for its operational efficiency and low-cost model. As of October 2024, IndiGo operates more than 2,000 daily flights to 122 destinations—88 domestic and 34 international. To attract premium travellers, IndiGo has recently launched ‘IndiGo Stretch’, which is a business-class service on selected routes with competitive pricing and meals catered by Oberoi Hotels. IndiGo has consistently been recognized for its customer service. It was awarded the title of “Best Low-Cost Airline in India and South Asia” at the 2023 World Airline Awards.
Its unique low-cost business model relies on three attributes:
- Low Fares: IndiGo is known for offering competitive pricing without sacrificing service quality.
- On-Time Performance: The airline has established a reputation for punctuality, which is a significant factor for travellers. In May 2024, IndiGo recorded an on-time performance (OTP) rate of approximately 72.78%.
- Hassle-Free Experience: IndiGo aims to provide a seamless travel experience with efficient check-in processes and minimal delays.
2. Air India (including AIX Connect): Top Airlines in India
Air India – previously the national airline of India – has low-cost carriers as well as full-service brands under its fold. The company has undergone a significant transformation since its acquisition by the Tata Group in January 2022. Air India is now positioned as the second major player in the Indian aviation market, holding about 28.8% of the market share of airlines in India as of July 2024.
Air India’s low-cost carrier – Air India Express – underwent a merger with AirAsia India in October 2024. The resulting company currently has a fleet size of 88 aircraft. This number is expected to grow to over 100 aircraft by the end of 31 March 2025. Air India carried approximately 4.05 crore passengers across 800 daily flights to 55 domestic and 44 international destinations during the fiscal year 2023-24. With a record order of 470 new aircraft, Air India is significantly expanding its fleet.
Once a symbol of exceptional customer service, Air India has seen its reputation decline due to mismanagement over the years. Despite this downturn, ongoing efforts to modernize its fleet and improve operational processes, and Air India’s long history still offer it a foundation for potential recovery and a chance to rebuild its reputation for service excellence.
3. Vistara: Top Airlines in India
Vistara is an Indian full-service airline, established as a joint venture between Tata Sons and Singapore Airlines. Vistara was founded in 2013 and commenced operations on 9 January 2015. Vistara operates a fleet of around 70 aircraft, including Airbus A320neo, Airbus A321neo, and Boeing 787-9 Dreamliner.
It connects approximately 50 destinations within India and internationally, operating over 300 flights daily. The company offers various classes of service, including Economy, Premium Economy, and Business Class. The airline emphasizes customer experience with features like complimentary meals in premium cabins and a focus on hospitality. As of August 2024, Vistara announced plans to merge with Air India, which is set to take effect in November 2024. This merger aims to enhance operational efficiencies and expand service offerings.
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4. SpiceJet: Top Airlines in India
SpiceJet is another low-cost carrier in India, known for its affordable fares and efficient operations. It offers a wide range of domestic routes, connecting major cities across the country. SpiceJet was known for its comfortable seating, on-time performance, and friendly customer service. The company is currently facing a significant operational crisis characterized by flight cancellations, financial struggles, and legal challenges. As of March 2024, SpiceJet’s total fleet size stands at 63 aircraft, with 39 of these operational. While it doesn’t offer the same level of amenities as full-service airlines, it provides a reliable and cost-effective travel option for budget-conscious travelers.
SpiceJet’s Customer Experience
- Service Challenges: SpiceJet has been criticized for its customer service quality, often ranking lowest in customer satisfaction surveys. A recent study indicated that 79% of surveyed passengers found SpiceJet’s service unsatisfactory, citing issues like flight delays and poor in-flight service
- Target Audience: SpiceJet tends to attract leisure travelers, offering competitive pricing and promotional deals. However, its financial troubles and operational inefficiencies have led to negative perceptions among customers
- Focus on Technology: The airline is attempting to enhance customer experience through automation and technology but has struggled with implementation due to ongoing financial issues.
5. Akasa Air: Top International Airlines in India
Akasa Air is a relatively new entrant in the Indian aviation market, founded in 2021 by industry veterans Vinay Dube and Aditya Ghosh, with significant investment from Rakesh Jhunjhunwala. Aditya Ghosh served as the president and whole-time director of IndiGo from 2008 to 2018, where he played a pivotal role in making it the largest and most profitable airline in India while Vinay Dube was the CEO of Jet Airways and GoAir (now Go First). Under the leadership of both, the company seeks robust growth in upcoming years.
The airline commenced operations on 7 August 2022, focusing on providing low-cost air travel. Akasa Air operates an all-economy configuration using Boeing 737 MAX aircraft, which allows for a higher passenger capacity. Akasa Air currently operates a fleet of 24 aircraft. The company does not include in-flight meals in its base fare; instead, it offers a buy-on-board service through its Café Akasa. Since its launch, Akasa Air has faced operational difficulties, including flight cancellations, and staffing issues. Some passengers have also reported issues related to delays and unprofessional staff behaviour.
Apart from all these domestic airlines, some top international airlines in India are also popular. This list includes names like Etihad Airways, Lufthansa Airlines, and Qatar Airways.
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Conclusion – Biggest Airlines in India
The Indian aviation sector is rapidly evolving, with key players like IndiGo, Air India, SpiceJet, Vistara, and Akasa Air shaping the competitive landscape. IndiGo leads with a 62% market share of airlines in India, focusing on low-cost efficiency and customer service. Air India, revitalized under Tata Group, holds a 28.8% market share and is expanding its fleet significantly. While SpiceJet faces operational challenges, Vistara emphasizes premium service. Akasa Air, a newcomer, aims to attract budget travellers despite early operational hurdles. The future looks promising as the industry adapts to growing demand and government initiatives enhance connectivity.
