Page 26 - Airlines

Pakistan International Airlines may suffer Rs 11200 crore loss in 2023: CEO

Pakistan's cash-strapped national carrier PIA is expected to suffer a loss of Rs 112 billion this year and running the airline on a public-private partnership model is the only solution to turn it into a profitable organisation, its CEO has said. During a press briefing, Pakistan International Airlines' CEO Air Vice Marshal Amir Hayat pointed out that the national carrier sustained a total loss of Rs80 billion in 2022 because of old loans and interest payments, the Express Tribune reported. He said that the PIA had a debt of Rs 742 billion passed on to its current management. Hayat warned that if the airline was not restructured, its annual loss would reach Rs 259 billion (USD 900667) in 2030. We have drawn up a roadmap for this purpose, he said. He maintained that running the PIA on a public-private partnership basis was the only solution to turn the airline into a profitable and international standard organisation. The PIA CEO claimed that maximum reforms had been made in the .

SC rejects Go First plea against Delhi HC nod to lessors to access planes

On August 3, the airline had moved to Supreme Court against the Delhi HC's order to allow lessors to inspect the aircraft

Ranchi-bound Indigo flight develops technical snag, returns to Delhi

A passenger, onboard the flight said that the pilot of Indigo flight number 6E-2172 announced mid-air about the technical glitch in the aircraft, and said that flight is returning to the IGI airport

Top headlines: Govt defers laptop import curbs, Go First insolvency

Business Standard brings you the top headlines at this hour

7 airlines closed down in 5 years; 16 carriers operational now: Govt data

A total of seven airlines, including Heritage Aviation and Air Odisha Aviation, have been closed down in the last five years, the government said on Thursday. Currently, there are 11 scheduled operators and 5 scheduled commuter operators in the country, according to data provided by Minister of State for Civil Aviation VK Singh in a written reply to the Lok Sabha. As per the data, seven airlines have been shut down in the last five years till July 21, 2023. Two airlines -- Heritage Aviation Pvt Ltd and Turbo Megha Airways Pvt Ltd -- were shuttered in 2022. Three carriers -- Zexus Air Services Pvt Ltd, Deccan Charters Pvt Ltd and Air Odisha Aviation Pvt Ltd -- were shut down in 2020. In 2019, Jet Airways (India) Ltd and Jet Lite (India) Ltd were closed down, as per the data. Jet Airways, which was issued an Air Operator Certificate (AOC) on February 13, 2022, stopped flying on April 17, 2019, due to a financial crunch. "After closure, Jet Airways (India) Ltd. had undergone insolve

NCLT gives green signal to Go First to fly aircraft if registered

The tribunal also denied requests of lessors to inspect the leased engines of the aircraft

Aviation regulator removes SpiceJet from enhanced surveillance regime

Airline has taken 'suitable maintenance action', says DGCA after checking its fleet

Japan Airlines encourages 'no bags' travel

The airline's plan to encourage foreign tourists to travel without bags is both convenient and fuel-efficient, a concept India could adopt as well

US airlines see no letup in travel demand despite broader economic concerns

Airlines say travel has become the topmost priority for consumers, but capacity constraints will not let them catch up with demand for anytime soon, helping sustain the post-pandemic travel boom

No proposal to interfere in current airfares regulatory framework: Scindia

Civil Aviation Minister Jyotiraditya Scindia on Thursday said there is no proposal at present to interfere with the current regulatory framework for airfares. Air ticket prices are not regulated by the government and are market driven, with airlines having freedom to fix reasonable fares after taking into consideration various factors, including cost of operation. In a written reply to the Lok Sabha, Scindia said airlines remain compliant with the regulatory provisions under Aircraft Rules, 1937 as long as the fare charged by them does not exceed the fare established and displayed on their websites. "The recent increase in airfare has been noticed in a few sectors, primarily driven by seasonality and demand-supply constraints. Further, the increase in airfare is also attributable to increase in fuel prices. Government has taken steps to sensitise the airlines," he said. According to him, the airfares in these select sectors are monitored on daily basis and as a result of which they

American Airlines raises 2023 profit forecast on strong travel demand

Boosting profits, jet fuel costs in North America are down about 30% from a year ago, but there are signs flight fares might be cooling off

AI flight gets delayed after passenger's mobile phone charger malfunctions

A Delhi-bound Air India flight from Udaipur returned to the bay soon after push back on Monday due to an issue with the malfunctioning of a mobile phone charger of a passenger, according to officials. The flight AI 470 was delayed by at least an hour and later took off for Delhi, one of the officials said. An airline official said there was a malfunction of the mobile phone charger of a passenger. Further, the airline official said the passenger noticed overheating of the mobile phone and alerted the cabin crew. Subsequently, the aircraft, which had pushed back, returned as a precautionary measure to ensure the safety of the passengers. However, an official at the Udaipur airport said there was apparently smoke onboard the aircraft following which it returned after pushback. While the exact sequence of the development could not be immediately ascertained, reports claimed that there was an issue with a power bank of a passenger.

Passport, money, AirTag? Here's what has brought luggage woes back

A year after air travel stormed back from pandemic lows, overwhelming the system with airport chaos and luggage pileups, airlines are still struggling to keep up

SpiceJet shares trim most of early gains, settles nearly 1% higher

Shares of SpiceJet on Thursday trimmed most of their early gains and ended nearly 1 per cent higher. During the morning trade, the stock had jumped 7.50 per cent after the company said its promoter and Chairman Ajay Singh will infuse Rs 500 crore into the airline, which will help boost its financial position as well as tap additional funds from a government scheme. The stock climbed 7.50 per cent to Rs 33.50 during the day on the BSE after a firm beginning. However, the stock failed to hold on to the strong momentum and gave up most of their early gains and ended at Rs 31.38 apiece, up 0.71 per cent. In volume terms, 73.81 lakh shares of the company were traded on the BSE during the trade. The budget carrier, which is facing multiple headwinds, including disputes with aircraft lessors, has been looking to raise funds. In a statement on Wednesday, SpiceJet said the fresh equity infusion by Singh, who is also the Chairman and Managing Director, will help the carrier in accessing ...

Delta Air forecasts stronger earnings on post-pandemic travel boom

Shares of other airlines also followed Delta's gains, with American Airlines, United Airlines and Southwest Airlines all up about 1.8% before the bell

Go First extends cancellation of its scheduled flights till July 16

Go First, which is undergoing an insolvency resolution process, stopped flying on May 3, and since then, it has extended the cancellation of flights multiple times

Wadia Group in talks with investors to jointly bid for Go First: Report

The group wants to hedge its bets in the aviation sector and thus wants to partner with a financial investor while holding a majority stake

EasyJet cancels 2% of summer flights schedule over air traffic worries

This summer, air traffic control issues are likely to be the weak spot, according to warnings from Eurocontrol, which manages European airspace

Indian airlines' IT spend to be much higher than global average: SITA Asia

Between 2014 and 2023, the number of airports in India have increased from 74 to 148, as per the Union civil aviation ministry. This number is expected to go up to 220 by 2025

Go First extends cancellation of its scheduled flights till July 10

The airline, which is undergoing an insolvency resolution process, stopped flying on May 3 and since then, it has extended the cancellation of flights multiple times