Page 42 - Aviation Industry

A flight of fancy in Worli

Top representatives of Banana Republic Securities and Mumbai Airline's bosses meet in Worli to discuss IPO plans of the airline

GoAir's IPO plan in midst of Covid-19 pandemic flies in the face of logic

GoAir's IPO plan has been in the making for several years - this is reportedly the sixth such plan - but the pandemic has made it an imperative after the airline's bankers refused it further loan

Refunds given for 99% tickets of flights cancelled during lockdown: IndiGo

Budget carrier IndiGo said on Wednesday it has processed 99.95 per cent of the total amount owed to passengers whose flights got cancelled during the two-month lockdown

Suspension of international passenger flights extended till April 30

The coronavirus-induced suspension of scheduled international passenger flights has been extended till April 30, Indian aviation regulator Directorate General of Civil Aviation (DGCA) said on Tuesday. "However, international scheduled flights may be allowed on selected routes by the competent authority on a case-to-case basis," the DGCA added. Scheduled international passenger services have been suspended in India since March 23, 2020, due to the COVID-19 pandemic. But special international flights have been operating under the Vande Bharat Mission since May and under bilateral "air bubble" arrangements with selected countries since July. India has formed air bubble pacts with 27 countries, including the US, the UK, the UAE, Kenya, Bhutan and France. Under an air bubble pact between two countries, special international flights can be operated by their airlines between their territories. The DGCA circular also said that the suspension does not affect the operation of international .

Jeh Wadia steps down as GoAir MD, Ben Baldanza made vice chairman

Jeh Wadia will continue to be part of the airline's board, said the company that is planning an initial public offering (IPO)

British Airways owner IAG raises $1.4 billion to ride out travel turmoil

IAG, which is burning through about 185 million euros a week as a result of the pandemic, has been cutting costs while flying only 20% of its normal capacity

GoAir plans to add new routes ahead of IPO, looks to hire senior executives

The airline currently operates 37 of its total fleet of 53 Airbus A320 aircraft

Former Jet Airways CEO Vinay Dube plans to launch a new airline in 2021

Dube has teamed up with his airline colleagues Praveen Iyer and Nikhil Ved for the venture and has held talks with aircraft manufacturers Airbus and Boeing

IndiGo CEO Ronojoy Dutta gets stock worth Rs 14 core through ESOP

This is over and above Dutta's last year's salary of Rs 11.9 crore which he has received till 31 December

Credit outlook negative for aviation industry, says ICRA

This reflects a view that financial performance of airlines is likely to remain weak in near-to-medium term amid weak air traffic

IndiGo eyes air cargo market, in talks with Airbus for freighters

To acquire five A321 planes initially, target China, west Asia

BOC Aviation, IndiGo sign purchase-leaseback pact for eight A320Neo planes

BOC Aviation Limited has signed purchase-and-leaseback agreements with InterGlobe Aviation Ltd (IndiGo) for eight new Airbus A320NEO aircraft. "The addition of these eight A320NEO aircraft demonstrates our confidence in the future growth of the aviation market in India," said Riyaz Peermohamed, Chief Aircraft Acquisition & Financing Officer, IndiGo. The aircraft will be powered by CFM Leap engines and are scheduled to be delivered in the second half of 2021, the Singapore-based aircraft leasing company said in a release on Monday. "This incremental capital expenditure also reflects our disciplined investment strategy throughout the cycle, focused on building a portfolio of the latest technology aircraft," said Robert Martin, Managing Director and Chief Executive Officer, BOC Aviation. He further noted that "we are delighted to partner once again with IndiGo, India's largest passenger airline, as we continue to support our airline customers to finance their aircraft deliveries.

Go Air receives Rs 800 cr lifeline from banks amid turbulent times

With this credit line, the airline will not need to recast its loans

Airlines see 10-12% drop in bookings as states insist on Covid-19 test

West Bengal joined Maharashtra and Karnataka in insisting on negative RT PCR tests for travellers from certain states, which has dampened sentiment

Govt extends ban on international flights till the end of March

In a circular, the Directorate General of Civil Aviation (DGCA) said international all-cargo operations and flights specifically approved by the DGCA are exempted from the ban

Rumblings and grumblings in the sky

International traffic is showing no sign of picking up and for Indian carriers, West Asia - a lucrative market - is still out of bounds

GoAir's chances of thriving may depend on the promoters taking a back seat

GoAir's failure to retain senior management has been ascribed to the classic weakness of Indian promoters

Covid-19 impact: Lufthansa lays off 103 of its 135 cabin crew in India

The German carrier, which operated 42 flights per week to India prior to lockdown, now operates 10 services per week under an air travel bubble

IndiGo starts hiring, gives offer letters to 32 pilots for ATR-72 fleet

The pandemic hit few sectors harder than air travel, wiping out tens of thousands of jobs. IndiGo had slashed its workforce by 10 per cent last year in view of travel disruptions

SpiceJet posts Rs 67 cr net loss in Q3 vs Rs 78 cr profit a year ago

While revenue from operations halved, SpiceJet gained due to Rs 209 crore of other income, including claims due from Boeing towards grounding of 737 Max and concessions in lease rent from lessors