Hindon Airport Traffic Falls As NIA Expands, Exposing The Limits Of Regional Aviation

By Zinal Dedhia

What? 

Hindon Airport in Ghaziabad is losing flight connections just as Noida International Airport (NIA) in Jewar begins building its network, raising questions about the future of regional aviation in Uttar Pradesh.

Hindon’s monthly passenger traffic fell from 89,073 in February 2026 to just 25,886 in August, a decline of about 71%. Air India Express discontinued operations from the airport in March, while IndiGo has reduced services on several routes. Regional carriers have also withdrawn some connections.

For passengers in Ghaziabad, eastern Delhi and western Uttar Pradesh, this could mean fewer convenient options and longer journeys to catch flights. Hindon is around 25–30 km from central Delhi, while NIA is roughly 70–80 km away by road.

Meanwhile, IndiGo is expanding at NIA, operating 15 daily flights and adding a Noida–Udaipur service to its winter schedule from October 25.

Why?

The contrasting trends raise a bigger question: is NIA creating new connectivity for the NCR, or are airlines also shifting capacity away from existing airports?

Air India Express operated from Hindon from March 2025 to March 2026, during which monthly passenger traffic peaked at 156,537 in August 2025. After the airline exited, traffic fell from 79,161 in March 2026 to 44,326 in April, a decline of about 44% in a month. By August 2026, it had dropped further to 25,886 passengers.

Hindon functions as a civil enclave at an Air Force base, with just two commercial aircraft parking bays and restrictions on night operations. NIA, by contrast, has been designed for round-the-clock operations, with significantly greater scope for airlines to schedule flights and expand.

For airlines, aircraft utilisation, operating flexibility and passenger demand all influence where they deploy capacity. Hindon is pursuing infrastructure expansion, but whether that will be enough to attract airlines back remains an open question.

Is Uttar Pradesh expanding its aviation market, or reshaping where its passengers fly from?

Rs 2,466.1 crore

That is how much net profit Maruti Suzuki reported in the July-September 2026 quarter, a 26.4% decline. Impacted by commodity price inflation linked to West Asia disruptions, the profit marked a decline from Rs 3,349 crore reported in the corresponding quarter of 2025.

The fall came despite the company achieving its highest-ever quarterly total sales volume of 6.96 lakh units.

Overview: Total revenue from operations rose to Rs 53,355.5 crore in Q2 FY27, up from Rs 42,344.2 crore a year earlier. Maruti said recent capacity additions have enabled it to serve strong demand.

Setup: Chairman RC Bhargava said rural demand continued to grow slightly faster than urban demand, while the CNG segment is growing faster than anyone expected. He also backed small cars, saying the country will still have a sizable market for them.

The company is confident of growing over last year and may aim for a double-digit number, said Partho Banerjee, senior executive officer of marketing and sales.

Akasa Shifts Jeddah Flights To Navi Mumbai

After Air India and IndiGo, Akasa Air also initiates moving operations. The airline will shift its Mumbai–Jeddah operations from Chhatrapati Shivaji Maharaj International Airport (CSMIA) to Navi Mumbai International Airport (NMIA) from December 2026, with bookings opening on October 26.

Catch Up Quick: The move comes as Adani Airport Holdings seeks to strengthen NMIA’s role in Mumbai’s aviation network. However, the transition is unfolding amid a tussle over passenger traffic between Mumbai’s two airports.

Mumbai International Airport Ltd (MIAL), also operated by Adani, has sought a 5-million-passenger annual restriction at CSMIA from summer 2027, arguing that traffic needs to shift to NMIA.

What Now? The Airports Operators Association has opposed the proposal, questioning the data and process behind it. Akasa’s move adds to NMIA’s growing international operations.

Fuel Push: E20 Stays, Diesel Surges

Oil Minister Hardeep Singh Puri said on Tuesday the Centre has no immediate plan to raise ethanol blending in petrol beyond the current 20%, calling misinformation about E20 a “contrived narrative.”

Puri said E20 saved Rs 1.60 lakh crore, with Rs 1.40 lakh crore going to farmers.

Context: The government has promoted blending to cut crude import dependence, a major driver of the current account deficit, and has already rolled out E20 fuel.

On Monday, the Road Transport Ministry notified rules allowing flex-fuel vehicles running up to E100 (nearly pure ethanol).

The Lead: Meanwhile, India’s diesel exports are set to surge from 2027 as state refiners add 16.5 million tons of diesel capacity, led by Indian Oil’s roughly 8 million tons, with Hindustan Petroleum, Bharat Petroleum and Numaligarh adding the rest.

India will be refining “for the world,” Puri said.

Setup: India is already the second-largest seaborne diesel exporter this year, behind the US, and aims to lift refining capacity to 300 million tons annually by 2030.

India’s Rupee Dilemma

Former Reserve Bank of India (RBI) governor Raghuram Rajan has warned India against exhausting its foreign exchange reserves to defend the rupee, urging policymakers not to “fixate on a number” for the currency. “I think the first response would be, don’t panic,” Rajan said at the Reuters Global Markets Forum.

Context: The rupee has lost about 6% of its value in 2026, pressured by high crude oil prices, rising US Treasury yields and foreign investor outflows. The RBI has stepped up intervention to curb its decline.

Flashpoint: Rajan’s comments come amid debate over whether India should allow the rupee to depreciate. The IMF has urged greater exchange-rate flexibility, while former RBI deputy governor Michael Patra has warned that currency movements can overshoot and hurt the real economy. India has deployed an estimated $75 billion to $80 billion through dollar sales and currency swaps. Rajan argued that moderate depreciation could boost exports by making Indian goods more competitive.

Modi-Adani Documentary Taken Down

An online documentary by Hotmail co-founder Sabeer Bhatia that accused Prime Minister Narendra Modi and billionaire Gautam Adani of favouritism has been ordered to be taken down by the Calcutta High Court, after Adani Enterprises sued, calling it defamatory, Reuters reported.

The court issued the order late on Monday, directing YouTube, X and Meta to remove the film.

Fast Facts: Adani Enterprises told the court the documentary, which garnered millions of views on social media, was riddled with false content and had prompted inquiries from some investors.

The documentary used archival footage to trace the history of the relationship between Modi and Adani, raising questions about Adani's winning bid for six airports in 2019 after a government rule change.

Context: The government’s opponents have been sharing the documentary widely.

The Adani group denied allegations of favouritism, and the government said all regulations were complied with.

The Free Newsletter Fintech Execs Actually Read

Most coverage tells you what happened. Fintech Takes is the free newsletter that tells you why it matters. Each week, I break down the trends, deals, and regulatory shifts shaping the industry — minus the spin. Clear analysis, smart context, and a little humor so you actually enjoy reading it. Subscribe free.

Sign Up Free

Diesel Is The New AI For India

On Episode 1018 of The Core Report, financial journalist Govindraj Ethiraj talks to Jaspreet Bindra, Co-founder and CEO at AI&Beyond as well as Matthew Morgan, Partner and the Chief Operating Officer at Eisner Advisory Group LLC.

• Diesel Is The New AI For India As Govt Refiners To Boost Production By Over 16 Million Tonnes Next Year

• Oil Prices Stay Unrelentingly High

• Is India Exhausting More Ammunition Than Necessary In Trying To Defend The Rupee Against The Dollar

• Microsoft’s Mass Move To Reduce Headcount By Over 25% And Anthropic’s Mega IPO, What Ties Them Together?

• Are GCCs Still Expanding In India And Where?