INDIGO

market share dropped 2% to 63.6% in November 2025, while Air India rose 1% to 26.7% and SpiceJet 1.1% to 3.7%. IndiGo's passenger load increased 6.3% to 88.7%. Air India's passenger load factor rose 10.2% to 87.5%, and SpiceJet's increased 5.5% to 87.7%. ICRA predicts the Indian aviation industry will report a net loss of ₹17,000 to 18,000 crore in FY2026.