Not only were fuel prices far higher, but even passenger load factors had fallen owing to unusually high capacity addition. For airlines, yield is a relevant pricing measure and refers to passenger ticket revenue divided by revenue passenger kilometres flown. However, it’s worth noting here that airlines have settled for lower passenger load factors in the bargain. IndiGo and SpiceJet saw their load factors drop 320-340 basis points on a year-on-year basis. Jet’s load factors declined marginally, supported to an extent by a decline in its capacity.

Source: Mint February 17, 2019 17:03 UTC