Not surprisingly, the promotional spending reported by MakeMyTrip in the airline segment has consistently increased from about 2 percent of total bookings before the pandemic to 3.4 percent of total bookings.

The GoFirst event may temporarily impact supply in the market, but other airlines have already begun to fill the supply gap with additional aircraft deployments on key routes.

MakeMyTrip’s recovery momentum in the airline sector continued in the fourth quarter, despite seasonal factors such as a lower holiday season. The company saw growth in both domestic and international air travel, especially in March.

MakeMyTrip’s gross airline bookings totaled $1.1 billion in the fourth quarter, an increase of 85 percent from a year ago.

As Indian aviation is poised for strong and sustained growth, aviation consulting and research firm CAPA India predicts that the country will need to serve more than 1.3 billion passengers within two decades, which will require a commercial fleet of nearly 4,000 aircraft.

MakeMyTrip also noted a steady recovery in all segments of its business except outbound travel.

The outbound tourism recovery has been slow, mainly because of high fares, mostly in the long-haul sector, but also because of visa problems.

In some categories, such as the premium hotel segment, domestic flights, homestays and domestic packages, MakeMyTrip said the recovery has already surpassed pre-pandemic levels.

MakeMyTrip also expects international air travel to return to pre-pandemic levels in the new fiscal year.

With international outbound travel on the rise, MakeMyTrip has also begun expanding its direct contracts to destinations frequented by Indian travelers.

Vietnam is one such emerging destination where the company is currently building inventory through direct supply contracts.