IndiGo operator Interglobe Aviation's shares were up in early trading on February 16, despite the fact that the airline lost some of its market share in January.

SpiceJet shares increased 5.5 percent, as the cash-strapped airline maintained its market share of 5.6 percent during the period. According to data from the Directorate General of Civil Aviation (DGCA), IndiGo, the airline with the greatest market share, saw a modest decrease to 60.2 percent in January, down from 61.8 percent the previous month.

IndiGo's passenger load factor was 88.4 percent versus 90.7 percent in December, while SpiceJet's was 93.7 percent versus 93.5 percent. At 9.20 a.m., IndiGo was trading at Rs 3052.5 on the BSE, up 0.77 percent, while SpiceJet was at Rs 67.1, up 5.5 percent from the previous session's close.

Domestic airline cancellations totaled 3.67 percent in January

IndiGo canceled 5% of its flights, SpiceJet 3.48 percent, Air India 2.06%, while Vistara and Aksa Air cancelled 0.86 and 0.17 percent, respectively. On February 15, sources told CNBC-TV18 that IndiGo was in negotiations with the government about reducing cancellations to and from the Mumbai airport.

According to government orders, the airline was set to cancel six to twelve flights from Mumbai International Airport.