Page 6 - Aircraft

Aircraft makes emergency landing at HAL airport in Bengaluru after glitch

The aircraft safely landed with the nose gear in Up position. At the time of incident, there were two pilots and no passengers were on board the aircraft, they said

The Cape Town Convention Bill: What is it, and why is India introducing it?

The Cape Town Convention is a global treaty to increase financing and leasing of aircraft by reducing lessor's risk; India plans to introduce the Bill in the monsoon session of Parliament this year

New bill could give aircraft leasing firms more power to repossess planes

The Cape Town Convention Bill will make it compulsory for the resolution professional to return the aircraft to the lessor within two months from the beginning of the bankruptcy process

India to resolve disparity in global aircraft leasing rules, national laws

A resolution could help lessors to Go First airline reclaim their planes and fly them out of the country after the carrier filed for bankruptcy protection in May

Air India relief flight carrying engineers to leave for Russia in afternoon

A source said it has taken longer to secure all overflying and landing clearances for the relief flight

Airbus nears 500 narrow-body jet order from IndiGo Airline: Report

IndiGo Chief Executive Pieter Elbers, attending the annual meeting of the International Air Transport Association in Istanbul, declined to comment on commercial matters

Civil aviation ministry comes with draft aircraft bill to simplify rules

The civil aviation ministry has come out with a draft bill for putting in place a simplified approach for regulations pertaining to the aviation sector. The Draft Aircraft Bill, 2023, has been prepared after reviewing the existing Aircraft Act, 1934. As per the preamble of the Draft Aircraft Bill, 2023, it aims to have an Act to make better provisions for regulation and control of the design, manufacture, possession, use, operation, sale, import and export of aircraft and for connected matters. The bill has been issued by the ministry for public consultations for a period of 30 days, according to a communication dated May 30. "The existing Aircraft Act, 1934 has been reviewed and accordingly a bill providing for regulating provisions in a simplified manner, identifying existing redundancies and to provide for provisions to meet the current needs for regulation of civil aviation in a simplified language...," the ministry said. According to the preamble, it is expedient to make bett

CBI files case against defence firm Rolls-Royce in alleged corruption case

The CBI said that the case is related to alleged corruption by public servants in the procurement of 24 Hawk 115 Advance Jet Trainer Aircraft

Go First's suspended board files caveats before SC against aircraft lessors

The suspended board of Go First on Tuesday filed caveats before the Supreme Court against four aircraft lessors of the crisis-hit airline. Four caveats have been filed by Varun Berry, the Chairman of the suspended board of Go First through his counsel advocate Pranjal Kishore, as per the information available on the website of the Supreme Court of India. The lessors are - SMBC Aviation Capital Ltd, GY Aviation, SFV Aircraft Holdings and Engine Leasing Finance BV (ELFC) - owning around 22 aeroplanes. The caveat has been filed against the order passed by the National Company Law Appellate Tribunal on Monday, which upheld the order passed by the Delhi bench of the NCLT on May 10. The Principal Bench of the National Company Law Tribunal (NCLT) admitted the plea of Go First to initiate voluntary insolvency resolution proceedings. It appointed an interim resolution professional (IRP) to suspend the company's board. A Caveat application is filed by a litigant to ensure that no order is .

EasyJet has sufficient planes on order for growth targets, says CEO

Supply chain issues mean both plane manufacturers are struggling to deliver new jets on time, but the CEO said that as one of the world's largest A320 family customers, easyJet was well-placed

Go First: Aircraft lessor moves Delhi HC to take back its leased plane

As Go First undergoes insolvency resolution proceedings, an aircraft lessor moved the Delhi High Court seeking directions to the authorities to release the plane leased to the crisis-hit airline. Besides, two more aircraft lessors have moved the National Company Law Appellate Tribunal (NCLAT) opposing the airline's insolvency proceedings. Accipiter Invesments Aircraft 2 Ltd has filed a writ petition before the Delhi High Court against the Union government and others, according to a lawyer. It has requested the high court to direct DGCA to deregister its aircraft which is currently on lease with Go First. Besides, Accipiter Invesments Aircraft has moved the NCLAT. Another aircraft lessor Eos Aviation 12 (Ireland) Ltd has also filed a petition before the NCLAT against Go First. Both the petitions are listed before the appellate tribunal for Wednesday. With moratorium on financial obligations and transfer of assets of Go First in the wake of the insolvency resolution proceedings, les

Termination of aircraft leases would have no consequence: Go First

Termination of leases for aircraft by their lessors would not have any consequence as the moratorium has been imposed under insolvency resolution proceedings, Wadia group air carrier Go First on Friday argued before the National Company Law Appellate Tribunal (NCLAT). While aircraft lessors on the other side raised doubts over the revival of Go First through the corporate insolvency resolution process (CIRP), citing the amount required to make it fly again. Senior advocate Arun Kathpalia representing SMBC Aviation said the average lease rent of per aircraft is around USD 2 lakh for a month and with more than 50 aircraft the monthly bill would be USD 10 million. "Cost of this misadventure is enormous," he said. For SMBC Aviation only, Go First has to pay USD 4.2 million per month, which includes maintenance and lease. SMBC Aviation Capital Ltd submitted that they have legal possession of their aircraft before the insolvency process started and as of today, Go First has no right for

Go First crisis will not change Indian aviation's growth trajectory: Boeing

US aircraft maker Boeing on Friday said the crisis at Go First will not change the trajectory of the Indian civil aviation market in terms of growth and macro trends while legislative clarity on aircraft leasing aspects will provide more comfort to the lessors. India is the third largest as well as one of the fastest growing aviation markets in the world, and Indian carriers are expected to require more than 2,200 aircraft in the next 20 years. Against the backdrop of insolvency proceedings being initiated against cash-strapped Go First, Boeing India President Salil Gupte said it is "never a positive" when an airline runs into financial challenges because it takes a toll on the management, employees, all stakeholders and also puts a strain on the overall transport infrastructure. On whether the Go First crisis will have an impact on the bullish outlook for the country's aviation market, Gupte said he does not feel so and that growth will continue. "In generally, we don't feel that

Two more aircraft lessors move NCLAT against Go First's insolvency

Two more aircraft lessors -- GY Aviation and SFV Aircraft Holding -- on Thursday moved appellate tribunal NCLAT against the order passed by the NCLT allowing Go First's voluntary plea to initiate insolvency proceedings. SMBC Aviation Capital, which is one of the world's largest aircraft leasing companies, already moved NCLAT on Wednesday, hours after the Delhi-based Principal bench of the National Company Law Tribunal (NCLT) admitted Go First's plea to initiate the insolvency resolution process against the airline. Ireland-based GY Aviation is the largest lessor of Go First with 9 aircraft, while SFV Aircraft Holdings has leased out one aircraft to the Wadia group-owned company. SMBC Aviation Capital has 5 aircraft on lease with Go First. Now the total number of lessors before the National Company Law Appellate Tribunal (NCLAT) against Go First's insolvency has become three. The NCLAT on Thursday heard the petition of SMBC Aviation Capital. The matter was partly heard and a two-m

Special aircraft to evacuate 22 Maha students stranded in Manipur: CM

Maharashtra Chief Minister Eknath Shinde said that a special aircraft has been arranged to rescue 22 students of the state stranded in violence-hit Manipur

Aircraft leasing industry to tap $100-bn financing market in 20 yrs: Report

It also recognises that the industry holds immense potential, therefore, it is crucial that the right ecosystem is built for the sector to flourish and for India to be deemed a leasing hub

Defence ministry plans to rope in Indian Cos for care of western aircraft

According to the report, the defence ministry is calling Indian companies for meetings, and once the capability assessment is complete, steps would be taken to hand over contracts

Taiwan tracks 91 Chinese aircraft, 12 naval ships: Defense Ministry

China began three-day military drills around Taiwan called "Joint Sword" after Taiwanese President Tsai Ing-wen met with US House of Representatives Speaker Kevin McCarthy

Standard Chartered closes operating lease of 5 aircraft with Akasa Air

Global banking group Standard Chartered on Monday said it has closed an operating lease of five new Boeing 737 MAX 8 aircraft with domestic carrier Akasa Air. While the bank already provides Akasa Air with corporate banking solutions and services, this is the first aviation finance transaction with the airline, Standard Chartered said in a statement. As part of the deal, structured, financed and arranged exclusively by Standard Chartered Aviation Finance, the first four aircraft were delivered to the airline between December 2022 and March this year, it said. The fifth and final aircraft is scheduled for delivery in the second quarter of 2023, Standard Chartered added. Akasa Air, which started operations on August 7 last year, had 19 Boeing 737MAX8 in the fleet as of March 25, according to an aircraft fleet tracking website. Standard Chartered has further strengthened its relationship with Akasa Air and supported its growth with these new additions to its fleet, said Kieran Corr,

IndiGo Airline plans to have 350 aircraft in its fleet next fiscal

No-frills airline IndiGo is expecting to fly 100-million passengers and is planning to have 350 aircraft in its fleet in the next fiscal, according to a presentation by the airline at the analysts/investors meet on Thursday. At the same time, the airline is looking to end the current fiscal with around 306 planes in the fleet with the passenger volume estimated at over 85 million. The number of destinations is expected to go up to 115, with around 10-15 destinations likely to be added in the network during the year, as against 104 in FY23, as per the presentation. While demand continues to be strong in the March quarter of the ongoing fiscal, external variables such as volatility in forex and fuel, global supply chain disruption as well as inflationary cost pressures (are) impacting performance. On the capacity side, the airline projects it to be in mid-teens compared to the estimated over 18 per cent in the current fiscal, as per the presentation. The airline, in the presentation