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Akasa Air plans to come out with its initial share sale in the next two to four years, depending on achieving various milestones, its Chief Financial Officer Ankur Goel said on Tuesday as he stressed that the airline's IPO is "not a question of if but a question of when". After taking to the skies in August 2022, the airline is slowly expanding its presence and currently flies to 34 destinations, including 7 international cities. The nearly four-year-old carrier, now, has a fleet of 39 planes and aims to have 226 aircraft by 2032. Responding to queries about the Initial Public Offering (IPO) at a briefing in the national capital, Goel said the time frame is going to be 2-4 years, depending on achieving various milestones such as being EBITDA positive, cash flow and profitability. "IPO will happen for us, it is not a question of if, it is a question of when, we are not creating an airline to do an IPO, we are creating an airline that really creates value...," he said, and also ...
Akasa Air aims at 30 per cent capacity growth in the current financial year and the long term plans have not gone through any rethink amid the geopolitical uncertainties, the airline's Chief Financial Officer Ankur Goel said on Tuesday. The airline, which has been flying for nearly four years, currently has a fleet of 39 Boeing 737 MAX planes and around 25 per cent of its capacity is deployed in international routes. In the 2025-26 fiscal, the airline's operating revenue increased 37 per cent and capacity measured through Available Seat Kilometres (ASKs) rose 30 per cent. At a briefing in the national capital, Goel said the focus is to remain well capitalised and the airline has enough cushion to tide through the current situation. The West Asia conflict and higher fuel prices have pushed the operational costs for airlines and some of them have temporarily cut flights. According to Goel, Akasa Air aims to increase capacity by 30 per cent in this financial year and the capacity gro
The Noida International Airport (NIA) began freight operations with the arrival of the first cargo plane on Wednesday, two days after starting commercial passenger flights on June 15. The first cargo flight, a Boeing 737-800F operated by Afcom Holdings between Chennai and Noida, was welcomed with a water cannon salute at the airport's cargo hub. AISATS Multi Modal Cargo Hub (MMCH) at NIA handled the domestic freighter flight at its integrated cargo terminal, with the aircraft carrying nearly 20 tonnes of mixed cargo, including perishables, consolidation shipments, auto components and mobile devices. This marked a major step towards establishing NIA as a logistics gateway for northern India by integrating air cargo handling, warehousing and multimodal connectivity, officials said. AISATS Chief Executive Officer Ramanathan Rajamani said the handling of the first freighter flight marked "the beginning of a new chapter in India's cargo and logistics journey". "As supply chains become
An Air India Express flight bound to Jeddah from Kannur returned within two hours of the flight on Tuesday due to a technical issue, airport sources said. The aircraft with over 180 passengers took off at 7.40 am from Kannur airport, but around two hours into the flight, the pilots found a technical issue and decided to return, the sources said. "The flight landed safely in Kannur. We will know what the problem is hereafter," they said.
Commercial flight operations from the Noida International Airport in Jewar will commence on June 15, officials said on Saturday. According to the state government, domestic carrier IndiGo will first launch services from the newly developed facility. A statement said the inaugural flight is scheduled to depart from Chaudhary Charan Singh International Airport, Lucknow, at 7:05 am and arrive at the Jewar airport at 8:05 am on June 15. Officials said the first regular commercial service from the airport will thereafter operate to Bengaluru. The airport, located in Gautam Buddh Nagar district within the Yamuna Expressway Industrial Development Authority area, is considered one of the Uttar Pradesh government's flagship infrastructure projects. Officials said it will strengthen the state's position as a major aviation, logistics and connectivity hub. Officials said the airport's first phase is complete, with a capacity to handle 12 million passengers annually. The facility includes a .
An Air Arabia flight from Sharjah to Kozhikode was diverted to Cochin International Airport here early Saturday due to a technical issue, officials said. According to a spokesperson of Cochin International Airport Limited (CIAL), Air Arabia flight G9 454 landed at the airport due to an issue related to the aircraft's engine reverse thrust system. As per established safety protocols, a local standby was declared at 3.19 am, followed by a full emergency at 3.34 am to ensure the readiness of all airport emergency response services. "The aircraft landed safely at 3.38 am and was guided to the designated parking bay. The full emergency was withdrawn at 3.45 am after all safety checks were completed," the spokesperson said. There were 170 passengers, nine infants and crew members on board. All were safe. Airport operations remained unaffected, the spokesperson added. After the snag was rectified, the aircraft departed for Kozhikode airport at 7.15 am.
Air India's foundations have been rebuilt over the last four years, but non-delivery of aircraft on schedule has significantly impacted growth and fleet modernisation, according to the airline's outgoing CEO Campbell Wilson. In an interview with PTI, Wilson, who is set to step down as the CEO and MD of Air India later this year, said he has no plans to take up another full-time executive position. The loss-making airline, which was privatised in January 2022 and is now jointly owned by the Tata Group and Singapore Airlines, is in the midst of an ambitious transformation plan but has been facing multiple headwinds. Describing the journey at Air India as fantastic and incredible, 54-year-old Wilson mentioned various efforts, including the cultural transformation, merger of four airlines, rebranding and upgrading the product, which is well underway. On April 7, Air India announced the resignation of Wilson as CEO and MD. A New Zealander, he was appointed to the role in May 2022. On h
US airlines spent more than USD 6 billion on jet fuel in April, up 78 per cent from a year earlier despite using slightly less fuel, government data released Monday showed. Meanwhile, the airline industry's top global trade group warned that soaring energy costs could nearly halve profits in 2026. Since conflict erupted in the West Asia earlier this year after the US and Israel launched strikes on Iran, much of the shipping traffic through the Strait of Hormuz -- a critical oil transit route bordering Iran -- has remained effectively halted, pushing up the price of oil and jet fuel. In an effort to contain costs, airlines around the world have raised airfares and fees, cut other perks and cancelled flights or trimmed schedules. US carriers spent nearly USD 6.5 billion on fuel in April, compared with about USD 3.6 billion a year earlier, according to the Bureau of Transportation Statistics. Fuel consumption in April totalled 1.573 billion gallons, down slightly from 1.575 billion ...
Domestic carrier SpiceJet on Monday said it plans to induct three Airbus A320 planes on a damp lease next month to further expand its fleet. The company has already finalised a lease agreement (with the lessor) for these three narrowbody planes, the airline said in a statement. Along with this, SpiceJet said it has also ungrounded a Boeing 737 MAX aircraft and put it back into commercial operations. The additional capacity will support the airline's network requirements during the busy travel season and provide greater operational flexibility across its domestic and international routes, it said. "These aircraft will help us meet growing passenger demand, strengthen operational resilience and enhance network flexibility during a busy travel period," said Debojo Maharshi, Chief Business Officer, SpiceJet. The airline, he said, continues to focus on steadily expanding its fleet and improving operational readiness as we move forward with our growth plans.
India setting up the ATF price stabilisation fund is a very good solution to address the problem of higher jet fuel costs being faced by the domestic airlines, a senior IATA executive has said. While mentioning that the current jet fuel scenario globally is unprecedented in terms of the cost impact, Hemant Mistry, Director Energy Transition at IATA, cautioned that if the situation continues, there would have to be more flight reductions. The International Air Transport Association (IATA) represents over 370 airlines, including Air India, IndiGo, Air India Express and SpiceJet. The grouping accounts for around 85 per cent of the global air traffic. Mistry said the jet fuel situation in terms of cost impact is unprecedented. "If the situation continues, there will have to be more demand destruction... that is the only way to manage the situation, it is an extreme situation," he told PTI. Demand destruction broadly refers to a reduction in flights amid rising operational costs, drive
India is a significant player in the growth story of air traffic in the Asia Pacific region, where the number of air passengers is projected to touch 4.1 billion by 2044, according to IATA. International Air Transport Association (IATA) represents over 370 airlines, accounting for around 85 per cent of the global air traffic. The number of air passengers in the Asia Pacific is projected to jump to 4.1 billion by 2044 from 1.7 billion in 2024, which would mean 2.4 billion additional passengers, as per IATA. At a briefing in the Brazilian city, the grouping's Regional Vice President for Asia Pacific, Sheldon Hee, on Saturday, said India has been a significant player in the growth story for the Asia Pacific for the last several years. India is one of the world's fastest-growing domestic civil aviation markets. The growth in the Asia Pacific has been strong over the last 5-10 years, and will continue to be strong in the next decade or so, he said. He listed out infrastructure, taxatio
Domestic airlines will be able to buy aviation turbine fuel (ATF) at a fixed price of Rs 86.32 per litre for up to three years under a new government-backed price stabilisation scheme aimed at shielding carriers and passengers from a surge in global fuel costs. Under the voluntary scheme, participating airlines will pay the fixed free-on-board (FOB) benchmark price plus airport charges, oil company margins and applicable taxes, taking the effective selling price to about Rs 115 per litre in Delhi, Rs 114.5 in Mumbai and Rs 139 in Chennai, according to government officials. The benchmark compares with the current effective ATF price of about Rs 105 per litre in Delhi, which has remained frozen for more than two months after the government allowed only a partial pass-through of soaring global fuel costs triggered by the outbreak of the West Asia conflict in late February. While participating airlines will pay the fixed price, those not opting for the scheme will be charged prevailing
The GST department has issued a tax demand of Rs 124.65 crore to struggling airline SpiceJet for non-filing of GST returns for the past several months, an official said on Friday. Initiating action against the airline for failing to file GST returns on time, the GST department has issued a show-cause notice to cancel the company's GST registration, the official said. According to the GST department, SpiceJet consistently committed irregularities in filing GST returns and submitted them late. Consequently, a provisional assessment was filed under Section 62 of the CGST and SGST Act, 2017. Based on this, a total tax demand of Rs 124.65 crore has been assessed for various periods. According to the demand details released by the department, the demand has been fixed at Rs 44.44 crore for the month of November, Rs 43.79 crore for the month of December, Rs 12.19 crore for the month of January, Rs 12.10 crore for the month of February and Rs 12.12 crore for the month of March. GST officia