Page 7 - Aircraft

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

Boeing, Airbus boost search for India talent as demand for aircraft rises

With about 1.5 million engineering students graduating annually, India is a rich source of talent for planemakers facing record orders from airlines as travel surges again after the Covid pandemic

Why the Dakota DC-3 is important to aviation history in India and the world

As Naveen Patnaik unveils a restored Dakota, here's a look back at the aircraft's legacy

Odisha CM unveils Biju Patnaik's iconic Dakota aircraft for public display

Odisha Chief Minister Naveen Patnaik on Sunday unveiled former CM Biju Patnaik's iconic "Dakota" DC3 (AT-AUI) aircraft for public display at Biju Patnaik International Airport Bhubaneswar

India looking to partner with Embraer, Sukhoi to make small jets locally

The government will keep 51% equity with an Indian company, while asking the foreign partner to do technology transfer, the people said

Air India to triple current aircraft fleet in a few years: CEO Wilson

Tata group-owned Air India has said that it would increase its fleet by a record 470 aircraft, funding the $70 billion order with internal cash, equity and through sale-and-leasebacks

DGCA approves modification for Hindustan-228 aircraft with 19 passengers

A new variant of Hindustan Aeronautics Limited's aircraft 'Hindustan 228-201 LW' has been approved by the Directorate General of Civil Aviation (DGCA), HAL announced on Monday. This variant has maximum take-off weight of 5,695 kg with 19 passenger capability, the Bengaluru-headquartered HAL said in a statement. With this modification, the aircraft would fall in the Sub 5,700 kg aircraft category, it said. "This variant provides several operational benefits for operators such as reduced pilot qualification requirement enabling pilots with Commercial Pilot License to fly the aircraft, enhanced availability of pilot pool for the aircraft and reduced operational cost," HAL said. In addition, the new variant will result in reduced training requirement for flying and ground crew including aircraft maintenance engineers, it was stated.

Govt to plug gaps in engine tech expertise, lines up buys worth Rs 1.5 trn

India looking to buy Rs 1.5 trillion worth of aero engines in a decade

Top headlines: AI seals largest plane deal, MSCI readies verdict on Adani

Business Standard brings you the top headlines at this hour

Trainer aircraft overturns at Thiruvananthapuram airport, pilot safe

A flight training aircraft for student pilots overturned at the Thiruvananthapuram international airport here on Wednesday, an airport official said. The pilot is safe, the official said. The incident occurred at 11.36 am when the training aircraft of the Rajiv Gandhi Academy for Aviation Technology, while taking off on a solo flight veered off from the runway and overturned.

Private trainer aircraft crashes into temple in MP's Rewa, pilot dead

The aircraft crashed 3 km away from the Chorahta airstrip after hitting the dome of a temple and a tree while on a training sortie

Centre to order 15 more C-295s from Tata-Airbus' Vadodara facility: Report

Out of 15, nine C-295s will be acquired for the Navy and six for Coast Guard