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IndiGo, SpiceJet fall up to 2.5% as domestic passenger traffic growth slows in January

Shares of SpiceJet fell almost 2.5% intraday, followed by its peer IndiGo that declined nearly 1.9%.

twitter-logo BusinessToday.In        Last Updated: February 18, 2020  | 11:01 IST
IndiGo, SpiceJet fall up to 2.5% as domestic passenger traffic growth slows in January
DGCA stated in its report, "The passenger load factor in the month of January 2020 has shown decreasing trend compared to previous month due to end of tourist season."

Airline stocks were trading lower after domestic passenger air traffic growth for January came in at 2.2% to 1.27 crore compared to the same month in 2019, according to data released by aviation regulator DGCA on Monday. In comparison, the growth in domestic traffic in December 2019 was 2.56% compared to December 2018.

DGCA stated in its report, "The passenger load factor in the month of January 2020 has shown decreasing trend compared to previous month due to end of tourist season."

The passenger load factor measures the seat capacity utilisation of the airline. The passenger load factors of Air India, SpiceJet, GoAir, IndiGo and AirAsia India declined in January 2020 as compared to December last year, as per the DGCA data.

Shares of SpiceJet fell almost 2.5% intraday, followed by its peer IndiGo that declined nearly 1.9%.

IndiGo maintained its lead position with 47.9% share of the domestic passenger market in January 2020. IndiGo share price trades higher than 5, 20 and 50-day moving averages but lower than 100 and 200-day moving averages. It has risen 3.5 in one week, however fallen 2.5% in one month. The stock has risen 8% year-to-date and over 30% in on year. Market capitalisation of InterGlobe Aviation currently stands at Rs 56,009 crore.

SpiceJet's market share increased from 16.5% in December to 16.6% in January, giving it the number two spot, as per the data. SpiceJet stock is trading lower than 5, 20, 50, 100 and 200-day moving averages. The share price has declined 6.5% in one week, 18% in one month and 24% year-to-date. It has risen 15% in last one year. Market capitalisation of SpiceJet currently stands at Rs 5,182 crore.

By Rupa Burman Roy

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Domestic air passenger traffic increased by 2.2% in January, says DGCA

 

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