Page 24 - Aviation Industry

Expressed interest with resolution professional to buy Go First: SpiceJet

SpiceJet itself has been facing a cash crunch for the past several quarters. It is also dealing with multiple court cases regarding money owed to former owner Kalanithi Maran

Public should be aware of SpiceJet's inability to pay dues, says Delhi HC

The airline was also asked to submit an affidavit outlining a plan for the return of the engines to two engine lessors, Team France 01 SAS and Sunbird France 02 SAS

Airlines likely to prune losses to Rs 3,000-5,000 cr in FY24: ICRA

Indian airline industry is expecting to prune its net losses to Rs 3,000-5,000 crore in this fiscal from an estimated Rs 17,000-17,500 crore in FY2023 on the back of improved yields and stable cost environment, credit ratings agency ICRA said on Tuesday. At the same time, ICRA also estimated that domestic air passenger traffic will expand by 8-13 per cent each in FY2024 and FY2025. The rating agency has also maintained its stable outlook on the industry in view of healthy passenger traffic growth, improved yields and a stable cost environment. Building on the fast-paced recovery in FY2023, ICRA at a webinar on Tuesday said it is expecting the domestic air passenger traffic to grow by 8-13 per cent in the ongoing financial year, thereby reaching 150-155 million and surpassing the pre-Covid levels of 141.2 million seen in FY2020. The Industry's net loss (is expected) to shrink to Rs 30-50 billion in FY2024 from an estimated Rs 170-175 billion in FY2023, aided by improved yields and .

Go Air troubles mount as billionaire-backed Indian airline nears collapse

Chief Executive Officer Kaushik Khona quit at the end of November, saying he couldn't get the carrier flying again and that staff hadn't been paid for six months

SpiceJet board adjourns meeting, to discuss funding plans on Tuesday

Crisis-hit SpiceJet's board of directors will continue to discuss fundraising plans on Tuesday after it could only partially complete the agenda items on Monday. On Monday, the no-frills airline's shares touched a 52-week high and ended with more than 10 per cent gains on the BSE as investors were enthused by funding plans and the proposal to list the company's securities on the National Stock Exchange (NSE). In an evening filing to the BSE, SpiceJet said its board on Monday "could only partially complete the agenda items and the meeting has now been adjourned to December 12, 2023 (Tuesday)". Apart from options for raising fresh capital through the issue of equity shares and/or convertible securities on a preferential basis, the board will also consider the September quarter results, as per the filing. Earlier in the day, shares of SpiceJet touched its 52-week high and closed with a gain of 10.19 per cent at Rs 60.57 apiece on the BSE. The airline has been grappling with multiple

SpiceJet, IndiGo among seven airlines owing more than Rs 95 crore to AAI

Seven airlines, including Alliance Air, SpiceJet, IndiGo and Emirates, together have pending dues of more than Rs 95 crore to the Airports Authority of India (AAI), according to the government. Other foreign airlines that have pending dues are Biman Bangladesh Airlines Ltd, British Airways Plc and Qatar Airways, as per data provided to the Rajya Sabha on Monday. The figures exclude interest and take into account only dues that are over Rs 1 crore pending for more than one year as of November 30, 2023. As per the data provided by Civil Aviation Minister Jyotiraditya Scindia in a written reply, three domestic carriers -- Alliance Air, SpiceJet and IndiGo together owe Rs 86.89 crore to the AAI. Out of them, the maximum dues amount is that of Alliance Air at Rs 83.38 crore, followed by SpiceJet (Rs 2.13 crore) and IndiGo (Rs 1.38 crore). Among the four foreign airlines, Biman Bangladesh Airlines has the highest dues of Rs 4.02 crore, followed by British Airways (Rs 1.85 crore), Emirat

SpiceJet board considering raising fresh capital by issuing equity shares

Budget airline tells BSE about its plan; told court earlier it's 'struggling to stay afloat'

Unable to repossess Go First planes, global aviation body downgrades India

Country tagged 'negative' due to 'material non-compliance', says Aviation Working Group

Air India changes aircraft order with Airbus, cites 'business requirements'

Indian carrier had placed order for 250 planes with European manufacturer

Fairness to airline consumers

Systematic thinking should guide us in the use of state power

Global air passenger traffic hit highest number since pandemic on Nov 24

The international air passenger traffic touched 1,06,827 on Friday, the highest level post the coronavirus pandemic, according to union minister Jyotiraditya Scindia. This also comes at a time when the country's domestic air passenger traffic scaled a new peak of 4,63,417 on Thursday. In a post on X, Civil Aviation Minister Jyotiraditya Scindia on Saturday said international air passenger traffic stood at 1,06,827 on November 24 and it was the "highest post Covid international air traffic". "A landmark day for Indian aviation sector! After reaching the milestone of carrying 4.63 lakh daily domestic passengers, the sector has achieved yet another feat of carrying more than 1 lakh daily international passengers," he said. Meanwhile, so far this month, the domestic air passenger traffic has touched new highs at least four times -- on November 23, 20, 19 and 20. "Post-Covid, India's domestic aviation's turnaround story has not just been overwhelming but inspiring as well. "Positive .

Domestic air passenger traffic hits new peak as airlines carry 463,417

Domestic air passenger traffic touched a new high on Thursday as airlines carried 4,63,417 people. "Post-Covid, India's domestic aviation's turnaround story has not just been overwhelming but inspiring as well. "Positive attitude, progressive policies, and deep trust among passengers are taking it to new heights with every flight, every day," the civil aviation ministry said in a post on X on Friday. As per official data, the total number of domestic passengers was 4,63,417 and flight movements were 5,998 on Thursday (November 23). In a post on X, civil aviation minister Jyotiraditya Scindia said a new record has been set in Indian domestic aviation. Earlier this month, domestic air traffic had touched new peaks for three consecutive days -- November 18, 19 and 20.

UN talks weigh goal to reduce aviation emissions via less-polluting fuels

ICAO's third Conference on Aviation and Alternative Fuels (CAAF) runs this week ahead of the COP28 U.N. climate summit in Dubai, which starts on Nov 30

ICC Cricket World Cup: Ahmedabad airport sees surge in chartered flights

Many celebrities and VIPs, including Shah Rukh Khan, Deepika Padukone, Ranveer Singh, Sachin Tendulkar, among others, attended the World Cup match

Airlines in last-minute negotiations to rescue Dubai Airshow deals

Emirates Airline President Tim Clark warned Airbus and Rolls-Royce on Tuesday that increased engine downtime in harsh Gulf conditions, as well as higher prices for servicing

Domestic air traffic to rise 11% in Oct as leisure, biz travel increases

The rise in both leisure and business travel, coupled with a decline in crude oil prices and capacity deployment, is expected to add to the growth in passenger traffic.

Asian airlines eye growth as int'l passenger traffic soars by 171% till Oct

As the international air passenger traffic grew by 171 per cent in the first nine months of 2023, a top airline association on Thursday said it looked forward to celebrate growth of the industry and focus on sustainability. Ahead of the 67th Assembly of Presidents of the Association of Asia Pacific Airlines (AAPA) to be held here on Friday, the Association said, the number of international air passengers in Asia Pacific reached 79 per cent of 2019 levels in September 2023, behind other regions given that borders in Asia fully re-opened only six to 12 months after the rest of the world after the pandemic induced lockdowns across nations. Nevertheless, demand is robust, with international air passenger traffic measured in revenue passenger kilometres (RPK) growing by 171 per cent in the first nine months of 2023, compared to the same period in 2022, AAPA said. Seat capacity measured in available seat kilometres increased by a comparatively slower 130 per cent in the first nine months

Stabilising the talent battle

CEOs grappling with talent challenges could draw inspiration from the structured transfer window system used in European football leagues

IndiGo parent's shares drop after airline warns of more groundings

BENGALURU (Reuters) - Shares of IndiGo fell 1.5% on Wednesday after the airline warned that more planes could be grounded due to the latest troubles with Pratt & Whitney engines, leading to the potential withdrawal of nearly a quarter of its fleet. India's top airline, listed as Interglobe Aviation, said late on Tuesday it sees groundings of its Airbus in the range of "mid-thirties" due to a powder metal issue, days after it said about 40 planes were pulled out of service for a separate problem with the engines. Both combined would add up to about a quarter of its total fleet of 334 planes - a large number of which are fitted with Pratt engines. The troubles come at a time when India's air travel market is rapidly growing. India saw a 29% rise in domestic passenger numbers in September from a year ago, and airlines like IndiGo and Air India stand to gain the most with smaller rivals like Go Air facing bankruptcy and upstart Akasa Air contending with a pilot shortage.

Fear of missing out grips global aviation as deal frenzy comes to Dubai

There's more to come. The Dubai Air Show kicks off next week, promising to send 2023 off with a flurry of orders for Airbus SE and Boeing Co