Page 29 - Airlines

Go First's CoC now in place; approval for revival plan likely soon: Report

Lenders of Go First, which is undergoing voluntary insolvency resolution process, have set up the Committee of Creditors (CoC) and a new resolution professional is likely to be appointed early next week, a source said on Friday. Cash-strapped Go First stopped flying from May 3 and now, with the CoC in place, the process for revival of the grounded airline is likely to gain speed. The source said the deadline for constituting the CoC was June 9. "The representatives from all four banks -- Bank of Baroda, Central Bank of India, IDBI and Deutsche Bank -- visited Go First office on Friday and after a meeting, they set up the CoC. "They discussed various aspects with Go First executives and the ways to proceed further," the source privy to the development told PTI. According to the source, the new resolution professional is expected to be appointed on June 12, and the lenders have suggested one name each from KPMG and EY. "The CoC is now expected to take up the revival plan for Go Fir

Air Arabia plans to double fleet capacity within next 12 months: Group CEO

"In 2022, a record 15.9 million guests travelled through Abu Dhabi, nearly threefold the number of visitors in 2021 at 5.26 million"

IndiGo aims to carry 100 million passengers in FY24: CEO Pieter Elbers

IndiGo aims to carry 100 million passengers in the year ending March 2024, as the carrier adds more domestic and international routes, its CEO Pieter Elbers said on Monday. The budget carrier flew 86 million passengers in FY23. At a media briefing on the sidelines of the IATA World Air Transport Summit here, Elbers said the airline expects to have around 350 planes in its fleet by the end of this fiscal (FY24). Currently, the carrier has more than 300 aircraft. IndiGo is India's largest airline with more than 57 per cent domestic market share. To a query on bilateral flying rights, Elbers said it is up to the government to decide on whether to give more rights or not. It requires a "tailor-made approach," he added.

'Massive opportunities' in vibrant Indian aviation market, says IATA

There are "massive opportunities" in the vibrant Indian aviation market, the International Air Transport Association (IATA) Director General Willie Walsh said on Monday. Talking about the Indian market, he highlighted that there are CEOs of two Indian airlines on the Board of Governors (BoG) of IATA and it is the first time that has happened. "It reflects the opportunity and vibrancy... there are massive opportunities and we are really excited about the future of aviation in India," he told a media briefing on the sidelines of the IATA Annual General Meeting (AGM) here. Air India CEO and Managing Director Campbell Wilson and IndiGo CEO Pieter Elbers are among the 31 airline CEOs on the BoG. On Monday, IATA announced that Elbers will serve as Chair of the BoG from June 2024. India is one of the fastest growing aviation markets in the world and Air India has embarked on an ambitious expansion plan, while IndiGo is set to fly to more international destinations. Earlier this year, Ai

Airline industry to report $9.8 bn profit this year on rising traffic: IATA

The airline industry is expected to record a net profit of USD 9.8 billion this year as passenger traffic is rising and local economies are reviving, IATA said on Monday. Willie Walsh, Director General of the International Air Transport Association (IATA), said that despite economic uncertainties, people are flying to reconnect, explore and do business. "Latest data shows that passenger traffic is at over 90 per cent of 2019 level". Speaking at the IATA Annual General Meeting here, he said airports are busier, hotel occupancy is rising, local economies are reviving and the airline industry has moved into profitability. The airline industry is expected to rake in revenues of USD 803 billion and a net profit of USD 9.8 billion this year. Airlines will make an average of USD 2.25 per passenger, he said. While the aviation industry is recovering after the pandemic, there are still challenges like cost pressure and supply-chain issues. Walsh said Original Equipment Manufacturers (OEMs)

Civil aviation ministry, airlines to discuss airfare spike on some routes

The civil aviation ministry will hold discussions with airlines later in the day on issues related to airfares, which have surged on certain routes in recent weeks, according to an official. Airfares have jumped significantly on certain routes, especially in the wake of crisis-hit Go First suspending operations from May 3. The meeting with representatives of airlines is likely to be chaired by civil aviation minister Jyotiraditya Scindia, the official said. The official also said that airfares are deregulated and the meeting is for monitoring and facilitation purposes. Amid a rise in airfares on certain routes, Scindia, last week, said the ministry was doing an analysis of routes that have been affected by the suspension of flights by Go First. Go First is undergoing an insolvency resolution process.

Spot airfares up three times in a month on India's busiest routes

However, fares for tickets purchased 30 days in advance have seen a small increase

Airlines scour globe for capacity as aircraft shortage takes toll

The massive aircraft deals announced this year are testament to the optimism about a post-pandemic rebound

IndiGo to start direct flights to six destinations in Africa, Central Asia

The country's largest airline IndiGo will start direct flights to six new destinations in Africa and Central Asia, including to Nairobi, Tbilisi and Tashkent, this year. Embarking on "massive" international expansion plans, the carrier will connect Nairobi in Kenya and Jakarta in Indonesia, with direct flights from Mumbai in late July or early August. "Delhi will get connected in August to Tbilisi, Georgia & Baku, Azerbaijan and in September to Tashkent, Uzbekistan, and Almaty, Kazakhstan," IndiGo said in a release on Friday. Once these routes are operational, the budget airline will be connecting a total of 32 international destinations compared to 26 currently. While noting that it is taking a "massive step in its international expansion strategy," IndiGo said it will be adding an "impressive 174 new weekly international flights between June and September 2023, including new destinations, routes, and frequencies". IndiGo said it will also be resuming daily services from Delhi to

SL Airlines denied 15-yr-old autistic boy to board flight from Bengaluru

The mother further said that it became very intimidating for her son with the two men following them all the way to the aircraft as if to catch something untoward

HC judge rejects pleas by Go First's lessors for release of leased planes

Justice Prathiba M Singh recused herself from hearing the four petitions without assigning any reason

Akasa Air commences daily flight operations from Kolkata: Report

Akasa Air on Thursday started daily flight services from Netaji Subhas Chandra Bose International (NSCBI) Airport in Kolkata, the airline said in a statement. The eastern metropolis is the airline's 17th destination and the second in West Bengal after Bagdogra. The airline started non-stop flights between Kolkata and Guwahati and Bengaluru. In the inaugural flight, 174 passengers travelled from Kolkata to Assam's largest city and 167 arrived in Kolkata from the Karnataka capital. On a daily basis, the airline's flight will arrive in Kolkata from Bengaluru at 5.15 pm and leave for Guwahati at 5.55 pm. The return flight from Guwahati will reach Kolkata at 9.10 pm and leave for Bengaluru at 9.50 pm, an AAI statement said. "Akasa has introduced services such as a caf and allowed pets on the plane," Belson Coutinho, co-founder and Chief Marketing and Experience Officer of the airline said. "We are delighted to launch operations from Kolkata, our second destination in West Bengal," Prav

India govt wants Go First flights to resume as soon as possible: Minister

Govt wants Go Airlines (India) Ltd flights to resume as soon as possible, the civil aviation minister said on Thursday, a week after the troubled low-cost carrier was granted bankruptcy protection

Go First tells pilots to resume work from May 27, training from tomorrow

It is mandatory to do a refresher training as the pilots haven't been flying since 3 May, according to media reports

Passenger molests crew member on Sharjah-Amritsar flight, arrested

An inebriated passenger on an IndiGo flight from Sharjah to Amritsar was arrested for allegedly molesting a cabin crew member, police said on Monday. Rajinder Singh, who hails from Kotli village of Jalandhar in Punjab, got into a heated argument with the cabin crew member and allegedly molested her during Saturday's flight, the police said. She brought the incident to the other crew members' notice. The accused was allegedly in a drunken state, police said. The crew members then notified the Amritsar control room about the matter and the assistant security manager of the airline lodged a police complaint. The accused was arrested upon his arrival at the Shri Guru Ramdas ji International Airport here, they said. Singh was booked under sections 354 (assault or criminal force to woman with intent to outrage her modesty) and 509 (word, gesture or act intended to insult the modesty of a woman) of the Indian Penal Code, the police said.

Go First's insolvency flight leaves trail of concerns for aircraft lessors

At least 50 requests to take back as many leased planes from two Indian airlines in less than two weeks. Petitions from lessors seeking to enforce rights under international norms and concerns over a possible spike in the risk premium for leasing aircraft for domestic carriers. Cash-strapped Go First being admitted for insolvency resolution proceedings on a voluntary plea and subsequent moratorium has left a trail of concerns and uncertainties for aircraft lessors with respect to India, the world's third-largest aviation market. Currently, Indian carriers have around 700 planes and some of them, including Air India, are expanding their fleet. Most of the commercial aircraft in the country are operated through the sale and lease-back model, and there are concerns that developments related to Go First could push leasing costs higher. Indian carriers are projected to require more than 2,200 aircraft in the next 20 years. Advisory firm Primus Partners' Co-Founder & CEO, Public Policy .

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

SpiceJet starts process of reviving grounded airplanes with $50 mn

Budget carrier SpiceJet on Thursday said it has no plans to file for insolvency proceedings and has also started the process of reviving its grounded fleet with USD 50 million. The statement from SpiceJet comes at a time when a lessor has filed an insolvency resolution plea against the airline and crisis-hit rival Go First being admitted for voluntary insolvency resolution proceedings by the National Company Law Tribunal (NCLT) on Wednesday. While citing the recent developments in the Indian aviation market, SpiceJet said it has no plans whatsoever to file for insolvency. "We want to scotch any speculation that may have arisen due to the filing by another airline. The airline is firmly focussed on its business and remains in active talks with investors to raise funds," it said in a statement. On May 8, the NCLT issued a notice to the budget carrier on the insolvency plea filed by lessor AirCastle (Ireland) Ltd and the matter is scheduled for a hearing next week. Besides, lessors h

Go First needs to raise funds: Resolution professional tells staff

Go Airlines will need to raise funds to revive the bankrupt company amid plans to keep it as a going concern, the recently appointed resolution professional informed staff on Thursday

Go First files suit against engine maker, legal scene shifts to US court

After getting what it had prayed for before the National Company Law Tribunal (NCLT), the legal scene now shifts to a US court where Go Airlines (India) Ltd has filed a suit against the aircraft engine maker Pratt & Whitney.