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Aviation stocks take off on robust passenger data

Stocks of SpiceJet, InterGlobe Aviation (Indigo) and Jet Airways were trading positive on account of strong passenger data in the month of February 2018.

Passengers carried by domestic airlines during February 2018 were 107.44 lakhs as against 86.55 lakhs during the corresponding period of previous year thereby registering a strong growth of 24.4%, as per the data provided by the Indian aviation regulator Directorate General of Civil Aviation (DGCA).

The passenger load factors of various scheduled domestic airlines have also shown increasing trend compared to previous month despite few incidents of aircraft grounding.

Amongst the listed aviation stocks, Spice Jet had highest PLF of 96.3% (95% in January 2018), Indigo’s PLF was at 91.8% (89.7% in January 2018), while Jet Airways’ PLF stood at 90.4% (88.7% in January 2018) on an m-o-m basis.

SpiceJet topped the On-Time Performance (OTP) at four metro airports with 78%, followed by Indigo with 74.8%, while Jet Airways (including JetLite) was again at the bottom with OTP of 62.2% for the month of February 2018. Indigo’s OTP was impacted by flight cancellation in the month of February due to faulty engines in its A320 neo aircraft.

Out of the total passengers carried, Indigo had the highest market share of 39.9% followed by Jet Airways, Air India and SpiceJet at 14.4%, 13.3% and 12.5% respective