MUMBAI -- The collapse of one of India's leading private airlines, Jet Airways, in April has come as a boon to major Indian carriers, which reported record profits for the June quarter, especially for private budget carriers InterGlobe Aviation-owned IndiGo and SpiceJet.
The industry, which has been subject to intense competition and volatile jet fuel prices for quite some time, experienced an unusual spike in profits owing to increased passenger traffic, rising airfares and higher seat occupancy.
