While rivals bleed, IndiGo lone profit-maker in FY25: Modi govt tells Lok Sabha

Financial strain is not new. In FY23, Indian carriers collectively lost over Rs 18,600 crore, with Air India alone down Rs 11,387 crore, and IndiGo posting a Rs 316-crore loss.

As passengers face flight cancellations and delays amid IndiGo's operational crisis, government data presented in the Lok Sabha on Thursday highlights a stark reality: most Indian airlines are still running at a loss.

The Ministry of Civil Aviation's written reply shows that IndiGo was the only major airline to post a profit in FY25, earning Rs 7,253 crore.

By contrast, Air India reported a loss of Rs 3,976 crore, Air India Express Rs 5,832 crore, Akasa Air Rs 1,986 crore, and Alliance Air Rs 691 crore. SpiceJet continued in the red with a Rs 56-crore loss, while smaller Star Air was a rare exception, posting a modest Rs 68-crore profit.

Financial strain is not new. In FY23, Indian carriers collectively lost over Rs 18,600 crore, with Air India alone down Rs 11,387 crore, and IndiGo posting a Rs 316-crore loss. The following year saw a sharp turnaround for IndiGo, which earned Rs 8,167 crore in profit, but most other carriers continued to struggle - Air India lost Rs 4,444 crore and SpiceJet Rs 404 crore in FY24.

High debt levels and operating costs explain why new players remain cautious despite rising demand. Domestic passenger traffic grew 7.7% in FY25 to 16.55 crore flyers, yet competition remains financially constrained.

IndiGo's market dominance - nearly 65% of domestic share - has magnified the impact of its recent crisis, caused by crew shortages and new duty-time regulations. With rivals financially weakened, passengers face limited alternatives, leading to overcrowded airports, higher fares, and mounting frustration.