SpiceJet was second largest passenger carrier in July

Budget airline SpiceJet Wednesday reported that its domestic market share has increased to 21 percent in July 2014, taking its ranking to the second largest passenger carrier.

According to the company, its passenger load factor in the month under review grew to 79.4 percent in July from 67.9 percent in the corresponding month of last year.

"Our increase in loads and share is the result of our new network, improved branding and product, and most importantly, our dynamic pricing and revenue management approach where we believe flying empty seats, which is the ultimate perishable commodity, is a waste especially for budget airlines," said Sanjiv Kapoor, chief operating officer (COO), SpiceJet.