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Datum Charts

Train Bookings Anchor Ixigo’s Platform Scale as Flight Share Stabilizes Around 37%

Trains continue to account for nearly half of Ixigo’s gross bookings, with flights contributing around 37% and buses ~13%. The mix reflects Ixigo’s balanced approach -leveraging trains for user scale and air/bus segments for profitability and transaction value growth.

,   and  Datum Intelligence
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Table of Contents

Ixigo’s booking mix has remained anchored around trains, which consistently account for 45–56% of gross bookings over the past eight quarters. Flight bookings contribute 35–40%, while buses and other categories collectively represent 10–15%.

This distribution reflects Ixigo’s differentiated positioning within India’s value-travel ecosystem, balancing high-frequency, low-ticket train users with margin-accretive air travel.

What It Means

The stable category mix highlights a dual-engine growth model:

  • Trains provide Ixigo’s large user base and engagement moat through daily utility and regional penetration.
  • Flights and buses enhance monetization and ARPU through premium use cases.

While the share of flights has moderated slightly from 41.7% in Q3 FY25 to 36.6% in Q2 FY26, train volumes have strengthened post-IPO, reaffirming Ixigo’s core strength in the mass market.

The platform’s ability to retain cross-category users underscores its maturing ecosystem and strategic depth beyond any single segment.

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