Page 14 - Airline Industry

Go First Saga: Lessors seek to deregister 9 more planes of the airline

As Go First awaits the NCLT verdict on its voluntary insolvency resolution plea, lessors have sought deregistration of nine more aircraft of the crisis-hit airline. In one week, various lessors have approached aviation regulator DGCA for deregistration and repossession of a total of 45 planes of Go First. The National Company Law Tribunal (NCLT) is set to pronounce the order on the carrier's petition on Wednesday. Go First stopped flying from May 3 and aviation regulator DGCA on Monday directed the airline to stop sale of tickets till further orders. Lessors have sought deregistration of nine more planes of the airline, according to an update from the Directorate General of Civil Aviation (DGCA). The airline had 55 aircraft in its fleet as on May 2 when it filed the petition and also announced suspension of operations. On Tuesday, the Wadia group-owned carrier said it will respond to the DGCA's show cause notice in due course and is taking all possible measures to reduce ...

Go Airlines gets portion of aircraft hull insurance premium from insurers

With 50 per cent of its fleet grounded due to the problems with Pratt & Whitney engines, the Wadia group's low cost Go Airlines (India) got a portion of its aircraft hull insurance premium from its insurers, said a top official.

Airbus C295 aircraft for India successfully completes its flight in Spain

The first Airbus C295 aircraft for India has successfully completed its maiden flight in Spanish city of Seville, in a significant milestone towards its delivery by the second half of this year. In September 2021, India sealed a nearly Rs 21,000 crore deal with Airbus Defence and Space to procure 56 C-295 transport aircraft to replace the ageing Avro-748 planes of the IAF. Airbus said on Monday that the tactical aircraft took off from Seville on May 5 at 11:45 am local time and landed at 14:45 pm after three hours of flight. Under the agreement, Airbus will deliver the first 16 aircraft in "fly-away" condition from its final assembly line in Seville by 2025 and the subsequent 40 aircraft will be manufactured and assembled by Tata Advanced Systems (TASL) in India as part of an industrial partnership between the two companies. "This first flight represents a significant accomplishment for the first Make in India aerospace programme. With the Indian Air Force set to become the largest

US govt working on new regulations for airline cancellations, delays

The Biden administration is working on new regulations that would require airlines to compensate passengers and cover their meals and hotel rooms if they are stranded for reasons within the airline's control. The White House said President Joe Biden and Transportation Secretary Pete Buttigieg would announce the start of the rulemaking process Monday. The rulemaking pledge continues a push by the Democratic administration to require airlines to improve customer service, and it comes just weeks before the start of the peak summer travel season. The aim of the rules would be, for the first time, to require airlines to pay compensation beyond a ticket refund and to cover expenses that consumers incur, including rebooking on another flight, if the airline causes a cancellation or significant delay. When an airline causes a flight cancellation or delay, passengers should not foot the bill, Buttigieg said in a statement. Currently, when an airline cancels a flight for any reason, consume

Go Airlines asks firms's tribunal to urgently pass order on bankruptcy plea

Go Airlines asked country's company law tribunal to urgently pass an order on its insolvency plea, citing lessors' efforts to take back planes, per the court hearing

TAFI asks Go First to process refunds using money deposited in credit shell

Amid uncertainty over tickets booked by passengers with crisis-hit Go First, a travel agents' body on Friday urged the carrier to make the refunds from the agents' funds deposited in a credit shell with the airline. The Travel Agents Federation of India (TAFI) has also urged Go First that the ticket refund amount be directly credited to the agents' bank accounts as many passengers are seeking refunds. TAFI, which has more than 1,400 members, in a letter to Go First CEO Kaushik Khona said that thousands of tickets need to be cancelled due to the suspension of flights. Go First has cancelled all flights till May 9 and has suspended sale of tickets till May 15. On GoFirst's website, bookings are available from May 23 but there was no official word on whether the suspension of ticket sales has been extended beyond May 15. "Hundreds of travel agents across the country have placed substantial deposits with your airline in a credit shell to be used for immediate and future bookings and w

Go First locks horns with lessors in a bid to begin bankruptcy hearings

NEW DELHI (Reuters) - Indian airline Go First's effort to start insolvency proceedings has become ensnared in a tussle with aircraft lessors after they asked the aviation regulator to deregister some of its planes as a step towards taking them back.

Lessors seek deregistration of 23 Go First planes to secure their assets

Go First has 54 Airbus aircraft in its fleet and 26 of them were in operation until Tuesday when the airline filed its insolvency application

No-frills carrier Go First extends booking hold-up; NCLT plea today

Lenders' meeting on the crisis remains inconclusive, to resume today

Go First travellers create chaos at Patna airport over flights reschedule

Passengers of Go First created a ruckus at the Patna airport on Wednesday after the Wadia group-owned airline suspended all its flight for three days from May 3 to May 5

Go First insolvency: Spot airfares rise on the airline's top routes

Go First's third busiest route was Delhi-Leh route where the airline was scheduled to operate 66 flights per week this month

Indian Oil to recoup $61 million of fuel sales bill from Go First

NEW DELHI (Reuters) - Indian Oil Corp will recoup $61.14 million of jet fuel sales to cash-strapped Go First by cashing in bank guarantees and is optimistic it will recover a further $6.11 million for unsecured sales made in the past few months, sources said.

Lessors taking steps to secure aircraft they leased to Go First

On Tuesday, the airline filed an application under Section 10 of the Insolvency and Bankruptcy Code (IBC) in the National Company Law Tribunal (NCLT)

Engine trouble grounds third of Airbus A220 fleet in Zurich, says Lufthansa

The idling of the narrow-body aircraft is on top of three other "brand new" aircraft with Pratt engines that are also down

One domestic airline on average went belly up every year in three decades

One scheduled airline on an average has gone out of business every year since private airlines took to the skies nearly three decades ago, with Wadia group-owned Go First being the latest carrier battling financial turbulence for survival. The first private airline to go belly up was East West Travels & Trade Link Ltd, which shuttered operations after almost two years in November 1996. The same year, ModiLuft Ltd also went out of business. Since 1994, the year when private airlines took off in the country, at least 27 scheduled carriers have either been shuttered or have been acquired or merged with other carriers, according to official data. While the country's domestic aviation sector is on an upswing with strong traffic recovery post-pandemic, Go First is grappling with severe financial crunch due to non-availability of Pratt & Whitney engines that has resulted in grounding of more than half of its fleet. Three scheduled airlines -- Zexus Air Services Pvt Ltd, which ...

Go First owner Wadia Group has no plans to sell its stake in airlines: CEO

BENGALURU (Reuters) -Go Airlines (India) Ltd owner Wadia Group is completely committed to the airline and had no plans to exit it, the airline's chief executive told Reuters in an interview on Wednesday.

Air India pilots gets stern warning over license renewal, AEP delays

Air India has recently issued a stern warning to its pilots regarding the renewal of their licenses and Airport Entry Passes (AEP).

Go First decides to cancel flights for three days starting Wednesday

Cash-strapped airline Go First has decided to cancel all its flights for three days starting from Wednesday, extending the suspension of operations by one more day, according to a communication. The airline, which has filed for voluntary insolvency resolution proceedings, earlier in the day said flights will be suspended for two days -- May 3 and 4. It operates around 180-185 flights daily. Amid uncertainties over its future course, Go First said it would provide a full refund of tickets. "We regret to inform that due to operational reasons, Go First flights scheduled for 3rd, 4th and 5th May 2023 have been cancelled. We apologise for the inconvenience caused by the flight cancellations," the airline said in a notice on its website. "We acknowledge the flight cancellations might have disrupted your travel plans and we are committed to providing all the assistance we can. We thank you for your patience," it said. Earlier in the day, Go First CEO Kaushik Khona said flights will be .

Civil aviation ministry tracking Go First developments closely: Official

The civil aviation ministry is keeping a close watch on the developments at crisis-hit Go First and the proceedings that are expected at the National Company Law Tribunal (NCLT) this week, a senior official has said. Faced with a severe financial crunch as more than half of its fleet is grounded due to the non-availability of Pratt & Whitney engines, Go First on Tuesday filed for voluntary insolvency resolution proceedings before the NCLT and has also decided to cancel all flights for May 3 and 4. Against this backdrop, the senior government official said the ministry is keeping a close watch on the developments related to Go First, including the admission of the airline's application by the NCLT. The country's civil aviation sector is strong and growing but the external issue of global supply chain disruptions is a primary reason for the Go First situation, the official added. Domestic air traffic touched an "all-time high" of 4,56,082 passengers in a single day on April 30. Go .

Here are the challenges facing incoming Qantas CEO Vanessa Hudson

The 28-year company veteran replaces Alan Joyce, who will step down in November after 15 years in the role - one of the global aviation industry's longest tenures