An emerging Indian middle class with more disposable income has spread its wings to turn aspirations of flying into a reality. This has triggered an uptick in the demand for low-cost airlines, and a sudden surge in airfare due to Go First's absence didn't bog down their spirits.
With a 56 per cent market share in such a market, India's leading carrier IndiGo has been named the best low-cost carrier at the Paris Air Show 2023.
Gliding past multiple milestones
The award for IndiGo comes a day after it placed a historic order of 500 aircraft from Airbus, in order to accommodate rising passenger traffic despite an engine shortage.
IndiGo has managed to leave Air India and other competitors far behind, despite a portion of its fleet being grounded due to a delay in the delivery of engines by Pratt & Whitney.
Determined to expand its horizons and fill the gap left by Go First, IndiGo has eyes on hiring about 6,000 employees in FY24.
After the landmark deal, IndiGo's CEO announced that the airline is set to double the size of its fleet by the end of this decade.
Its stock prices also surged to an all-time high after the deal was announced.
