Salary will be spent on flight tickets, how did the fare double in 5 years?

Air Fare In India: If you also travel by air often, then this news is for you. The coming days may prove to be expensive for air travelers. The word 'aviation' was not even mentioned in the Union Budget presented by Finance Minister Nirmala Sitharaman on February 1, despite this, shares of Indigo and SpiceJet saw a rise. 

Now you must be wondering that when there was no mention of aviation sector in the budget, then why did the share prices of companies increase? And what is the connection between the increase in share prices and the increase in fares? The answer to this is the relief given in income tax. 

With this step of the government, airline companies are hoping that now more people will travel by air, spend money on holidays and the demand for tickets for big events will increase.

Fares have increased by 85% since the Covid period

However, will this actually prove to be true? In the current circumstances, the rising prices of air travel can give a blow to this hope. Questions are also being raised in Parliament regarding the rising prices of air fares. 

Statistics show that since 2020 i.e. the Covid period, air fares have increased by 85%, making travel more expensive than ever for the common traveler.

Experts also believe that the growth of the aviation sector in India is not as easy as it seems. It depends on many global factors. In 2023, air traffic growth was only 6%, whereas it was usually in double digits. According to the data of the last 10 years, the growth of air traffic in India was usually 1.5-2 times more than the country's GDP, but now it is seeing a decline.

However, one reason for this decline is the shortage of aircraft. More than 60 aircraft of IndiGo are grounded because their engines are facing technical problems. 

SpiceJet has reduced its fleet by one-third due to cash crunch. At the same time, Akasha Air, which was aiming to fly 35 aircraft by March, is still stuck at just 27 aircraft because Boeing is delaying aircraft manufacturing.

Fare increased from 3500 to 6500 rupees

Currently, around 3200 flights are flying every day in India, in which about 5 lakh passengers travel. Up to 90% of the seats are booked, due to which there is no special reason for the airlines to reduce the fare. This is the reason why while the average air fare was Rs 3500 in 2019, it has now reached Rs 6500.

Experts believe that unless the capacity of airlines is increased, it is difficult to get relief in fares. Airline company Indigo has earned Rs 8200 crore in the financial year 2023-24. This record-breaking earning of the company shows that people are ready to pay the increased fares.