Page 29 - Airlines

NCLT to hear cash strapped Go First Airway's insolvency plea on May 4

The National Company Law Tribunal tribunal (NCLT) on Thursday will hear cash-strapped air carrier Go First's voluntary insolvency resolution plea. The petition for initiation of voluntary insolvency resolution proceedings was mentioned before the Delhi-bench headed by President Justice Ramalingam Sudhakar. The bench has agreed to an urgent hearing and directed to list the matter on Thursday for hearing. The Wadia group-owned carrier has moved the National Company Law Tribunal (NCLT), Delhi, seeking voluntary insolvency resolution proceedings. Section 10 of the Insolvency & Bankruptcy Code, allows a debtor to initiate an insolvency resolution process against itself if it has committed any default. Go First is the second major scheduled airline after Jet Airways to seek resolution under insolvency proceedings. The airline, which has been grappling with engine issues since January 2020, said it has been forced to move the NCLT as P&W refused to comply with an order issued by the .

Go First saga: The engine dispute at the heart of bankruptcy filing

(Reuters) - Cash-strapped Indian airline Go Airlines (India) Ltd, recently rebranded as Go First and previously as Go Air, filed for bankruptcy on Tuesday, blaming "faulty" Pratt & Whitney engines for the grounding of about half its fleet.

Doing everything possible with utmost care for employees: Go First CEO

Go First chief Kaushik Khona has told employees that the airline has been crippled by recurring Pratt & Whitney engine troubles and assured that the carrier is doing everything possible to navigate the situation with utmost care and concern for all staff. The no-frills carrier has filed an application for voluntary insolvency proceedings and has also cancelled all its flights for three days starting Wednesday. In a message to employees late on Tuesday, Khona said that a terrible crisis has been created by Pratt & Whitney's failure to supply engines. For more than 12 months, the airline's management has tried their level best to convince P&W to provide spare engines, repair engines. However, P&W has been stonewalling the discussions, the CEO said, adding that it moved Emergency Arbitration in Singapore. According to the airline, the arbitrator ordered P&W to supply at least 10 serviceable spare leased engines by April 27 and a further 10 spare leased engines per ...

Go First saga: SpiceJet to revive 25 grounded aircraft, mobilises Rs 400 cr

The funds for revival will be drawn from the Centre's Emergency Credit Line Guarantee Scheme (ECLGS) and better cash accruals, the airline said in a statement

Go First has history of missing financial obligations: P&W on allegations

In its insolvency filing, Go First said that the 'ever-increasing number of failing engines supplied by Pratt & Whitney's international Aero Engines' led to the grounding of 25 of its A320 neo jets

Go First Airways owes financial creditors $798 mn, shows bankruptcy filing

Lenders were not aware of the airline's plans to file for voluntary insolvency and will meet soon to take stock of the situation, the report said

Go First cancels flight amid bankruptcy: Know all about the refund process

The airline on its website said, "We regret to inform you that due to operational reasons, Go First flights scheduled for 3rd, 4th, and 5th May 2023 have been canceled"

Airlines carried 9,593 more domestic fliers per day in April, shows data

International air passenger traffic down 1% ahead of May tourist season

Revival plan hits a hurdle: Jet Airways CEO-designate Sanjiv Kapoor quits

He had joined the airline as the Chief Executive Officer in April last year. The source said that Friday was the last working day for Kapoor at the airline

Easing bilateral rights will help Indian carriers: Lufthansa executive

In order for an airline to operate a scheduled flight between two countries, there must be a "bilateral air services agreement" in place

SpiceJet to appoint Arun Kashyap as Chief Operating Officer from June 12

No-frills carrier SpiceJet on Thursday announced the appointment of Arun Kashyap as its Chief Operating Officer. Kashyap will be rejoining SpiceJet from Air India where he is the Chief Technical Officer. Earlier, he had served as the Chief Program & Transformation Officer at SpiceJet. The appointment of Kashyap will be effective from June 12 and he will report to the airline's Chairman and Managing Director Ajay Singh, SpiceJet said in a release. He has also worked with flydubai, Jet Airways and Oman Air. "I am delighted to welcome Arun back to the SpiceJet family. As COO, he will have a key role to play in the growth of the airline," Singh said.

After weak start to year, airlines eagerly looking to profitable summer

Most US airlines lost money in the first quarter, traditionally the weakest time of year for travel, but they are all eagerly looking ahead to a summer of full planes and high fares. American Airlines and Southwest Airlines said on Thursday that they expect to be solidly profitable in the second quarter. They joined Delta Air Lines and United Airlines in giving an upbeat outlook for the April-through-June period, which includes the start of the peak travel season. Southwest CEO Robert Jordan said that despite losing USD 159 million in the first quarter the airline blamed fallout from its December meltdown, which hurt bookings early this year his airline made money in March as revenue picked up. While we are mindful of the uncertain economic environment, demand for domestic air travel remains strong, thus far, Jordan said. American eked out a USD 10 million profit for the first quarter as revenue jumped 37 per cent from a year earlier. The airline predicted second-quarter earnings

Top Headlines: RIL logs highest ever profit, Pichai's pay soars and more

Business Standard brings you top headlines at this hour

Airlines must get new altimeters to ensure no interference from 5G: Telcos

The DGCA had mandated a complete blackout of 5G services in airports across the country and areas within 2.1 kilometres radius due to safety concerns

Alaska Air Group posts bigger-than-expected loss as costs mount

Shares of Alaska Air fell 1.49% in premarket trading on Thursday after the company forecast second-quarter CASM, excluding fuel, to rise between 1% and 3%

Wadia group likely to exit loss-making budget carrier Go First: Report

In the past few months, Go First's over half aircraft have been grounded due to supply chain disruptions due to Pratt & Whitney (P&W) engines

Operations normal now: Alliance Air as pilots call off strike after 2 days

Alliance Air on Wednesday said flight operations have normalised now after a section of pilots, who were on strike for the last two days, resumed work. On Monday and Tuesday, around 70-80 pilots went on strike to protest against non-restoration of salaries to the pre-COVID level and non-payment of allowances, among other issues. Alliance Air CEO Vineet Sood on Wednesday told PTI that pilots have come back to work. He also said that negotiations are going on with the pilots regarding the issues raised by them. In a statement, Alliance Air said flights suffered major disruptions as a section of pilots en masse reported sick in the last two days. "We are now pleased to inform that the operations have normalised and flights are operating as per schedule," the statement said. On Tuesday, sources said the airline has issued notices to the striking pilots and has also asked them to join back for duty. State-owned Alliance Air, which was earlier part of the now-privatised Air India, has

Alliance Air pilots on strike over pay, nearly half its flights cancelled

Airline says no notice served, so management has taken a serious view; pilots want salaries pruned during Covid to be restored to pre-pandemic levels

Srinagar airport to spruce up amenities to handle increased footfall

Setting up more baggage checking machines and introducing electric vehicles to ferry passengers are among the key measures to be undertaken to handle increased footfall at the international airport here ahead of G20 events and the tourist season, officials said on Friday. Besides these, a police unit to cater to complaints and grievances of tourists and a police facilitation counter would also be setup, they said. The measures were announced on Thursday at a meeting to review the security aspects and functioning of the Srinagar international airport, the officials said. It was conducted by Jammu and Kashmir Director General of Police (DGP) Dilbag Singh and Director General Bureau of Civil Aviation Security (BCAS) Zulfiquar Hasan, and attended by top officers of the civil administration and police, the Central Reserve Police Force, the tourism department and the airport. During the meeting, measures to ease congestion such as increasing the number of baggage checking machines at the

Soaring variety in in-flight meals is giving a lift to ready-to-eat brands

Poha to biryani, instant food firms have a full plate as airlines focus on in-flight experience