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Passenger Count Badha, Par Airlines Ki Nikli Jaan!
Haan, sahi suna tumne. India mein aviation sector thoda grow kar raha hai, passenger numbers mein 1.23% ka increase dikha hai Q1 2026 mein. Lekin ye khushi temporary hai, kyunki fuel ke rates itna bhag gaye hain ki airlines ki jeb phatne wali hai.
IndiGo Ka Raaj, Par Chinta Bhi Kam Nahi
Sabse badi player, IndiGo (InterGlobe Aviation), apna market share 63.3% se aur badha rahi hai aur 88.7% on-time performance maintain kar rahi hai. Lekin stock market mein investors bhi thode cautious hain, company ka market value ₹1.72 trillion hai, but P/E ratio 37-56 ke aas paas hai, jo zyada growth ka signal nahi de raha. Ye dikhata hai ki even IndiGo ke liye bhi operating costs ek bada headache ban gaye hain.
Air India Aur SpiceJet Ka Bura Haal
Asli stress toh doosri airlines par hai. West Asia mein chal rahe conflicts ki wajah se jet fuel prices 55%-60% tak pahunch gaye hain, jo pehle sirf 30%-40% hua karte the. Iske saath hi, rupee bhi gir raha hai, jisse dollar mein hone wale kharch jaise aircraft lease aur maintenance aur bhi mehenge ho gaye hain.
Federation of Indian Airlines ne toh government ko warning de di hai ki sector "band hone ki kagar par hai". Air India ki toh kismat hi kharab hai, FY2026 mein unka loss ₹20,000 crore se zyada ho sakta hai, jo pichle saal se lagbhag double hai. Ye privatization ke baad ka sabse bada deficit hai, lagbhag INR220 billion ( USD2.4 billion). Budget carrier SpiceJet ka market share bhi 3.8% tak gir gaya hai aur stock bhi -72.73% tak gira hai pichle ek saal mein.
Future Kaisa Rahega?
Government ne April 2026 mein domestic jet fuel price increase ko 25% tak cap kiya tha, par international flights par koi relief nahi hai. ICRA ne bhi industry outlook ko "stable" se badal kar "negative" kar diya hai. Agar government ne fare caps hata diye toh prices badh sakte hain, jisse travel karne wale kam ho sakte hain. UBS ne toh IndiGo shares ko downgrade bhi kar diya hai. Overall, Indian aviation sector ke liye future mushkil lag raha hai, aur cost control hi survival ki chabi hai.