Page 10 - Aviation Sector

Airfares rise as competition fades on domestic routes, shows data

Competition present on only 31% of domestic routes in April 2024, data show

SpiceJet's domestic market share falls to 3.1% in July, shows DGCA data

SpiceJet had recorded a market share of 16 per cent in March 2020, just before COVID-19 spread across India. The airline has been recording losses for the last six years

SpiceJet Q1 results: Net profit drops 20% to Rs 158 cr due to fewer flights

Airline said it has initiated process of raising Rs 3,000 crore through QIP

Garuda Aerospace enters Sri Lankan market to target agricultural sector

Cricketer M S Dhoni-backed drone technology firm Garuda Aerospace on Monday announced its entry in the Sri Lankan market where it will primarily target agricultural sector to enhance farming practices, besides exploring opportunities in homeland security and industrial applications. As part of the company's global expansion plans, the foray into Sri Lanka will also support Garuda in capitalising on the country's strategic location and drone-friendly regulatory environment, Garuda Aerospace said. The company said it is looking to spread its presence in at least 50 countries over the next few years, and has set aside USD 10 million, of the over Rs 100 crore revenue it delivered in FY24, to fuel the international growth. "This (expansion into Sri Lanka) isn't merely about growth, it's about unlocking the full potential of drone technology to create substantial impacts across various sectors. Sri Lanka's diverse landscape allows us to showcase how our innovative solutions can bring ...

Bhartiya Vayuyan Vidheyak to address discrepancies in aviation law: Govt

The government on Thursday said the Bhartiya Vayuyan Vidheyak Bill 2024, which seeks to replace the 90-year-old Aircraft Act, would address the current discrepancies in the aviation law and help the industry grow. Speaking during a discussion on the Bill in the Lok Sabha, Aviation Minister Kinjarapu Rammohan Naidu underscored the need for the new legislation, noting that the Aircraft Act, 1934 has become outdated due to its numerous amendments over the years. The Bill, which was introduced in the Lok Sabha on July 31, is intended to "regulate various aspects of the aviation industry, including the design, manufacture, maintenance, operation, and sale of aircraft". Naidu explained that the 1934 Act had undergone 21 amendments, resulting in ambiguities and contradictions, particularly regarding the powers and functions of internal organizations like the Directorate General of Civil Aviation (DGCA). He pointed out that these issues have created confusion within the aviation sector, ..

GST notices to foreign airlines could hurt India's aviation potential: IATA

The DGGI has sent show cause notices to airlines such as Emirates, Singapore Airlines, Lufthansa, British Airways, Oman Air and five others

India needs more than 2 major airlines, says IndiGo's Rahul Bhatia

IndiGo will never be found guilty of gouging customers, he added

Committed to making India a regional MRO hub: Boeing Defence India MD

Parent company Boeing leveraging Indian assets for cutting-edge R&D, investing to meet growing demand for new pilots in South Asia

IndiGo Q1 FY25 results: Net profit declines 11.7% to Rs 2,728.8 crore

The airline's chief financial officer Gaurav Negi said that about 70 IndiGo planes are currently grounded

Flight ops at Mumbai airport see temporary disruption due to heavy rains

IndiGo informed passengers about delays while advising them to check their flight status

Tata, Airbus sign contract to establish H125 Final Assembly Line in India

Airbus Helicopters and Tata Advanced Systems have made great progress in determining the FAL's location, which will be announced shortly

SpiceJet to raise $360 mn by selling securities to restore normalcy

The company will issue shares to institutional investors, it said in an exchange filing, without disclosing the price at which they would be sold

Microsoft outage disrupts aviation in India; other services unaffected

IndiGo, India's largest airline, reported the cancellation of at least 192 flights over Friday and Saturday

Air India's Delhi to San Francisco flight diverted to Russia due to glitch

According to the information, the aircraft has landed safely and airline officials are working with relevant authorities to ensure guests are taken care of until the next course of action is decided

SpiceJet posts net loss for sixth consecutive year amid ongoing cash crunch

SpiceJet said that due to its operational and financial position, it has deferred payments to various parties, including lessors, vendors, and statutory authorities

Airbus expects China, India to drive jet sales in next two decades

Carriers in India have loaded up on new plane orders as demand for flying soars with a growing middle class

NCLT directs grounded carrier Go First to release 4 aircraft engines of ELF

The National Company Law Tribunal (NCLT) on Thursday directed grounded carrier Go First to release four aircraft engines of Engine Lease Finance (ELF) BV. The counsel appearing for the resolution professional (RP) submitted that he has already started the process of returning one engine to the lessor. The RP submitted that he has no objection over the process of releasing the four aircraft. Headquartered in Shannon, Ireland, ELF is the world's leading independent engine financing and leasing company. The NCLT has put the matter for further hearing on August 9, when other engine lessors may argue their case for return. Earlier in June, NCLT had granted an extension of 60 days to the grounded air carrier Go First, for completing the Insolvency process of grounded air carrier Go First for 60 days. This is the fourth extension for Go First to complete the Corporate Insolvency Resolution Process (CIRP), which is struggling to find a buyer. The Delhi-based NCLT bench said this is the f

Domestic air passenger traffic momentum to continue this year: Report

The momentum in air passenger traffic is expected to continue and airlines' net loss is projected to be Rs 3,000-4,000 crore in the year ending March 2025, both trends similar to the previous financial year, a report said on Tuesday. In June, the domestic air passenger traffic was estimated at 132.8 lakh, around 3.7 per cent lower than seen in May but about 6.3 per cent higher compared to the year-ago period. Rating agency Icra said the outlook for the country's aviation industry is stable amid the continued recovery in domestic and international air passenger traffic, with a relatively stable cost environment and expectations of the trend continuing in FY2025. "The momentum in air passenger traffic witnessed in FY2024 is expected to continue into FY2025, though further expansion in yields from the current levels may be limited," it noted. According to its report, the pace of recovery in industry earnings is likely to be gradual owing to the high fixed-cost nature of the business a

Tata group airlines complete harmonising operating manual ahead of merger

The harmonisation of operating manuals across all Tata group airlines has been completed in the run-up to the Vistara-Air India merger and amalgamation of AIX Connect with Air India Express, a statement said on Monday. At present, the steel-to-software conglomerate fully owns three airlines -- Air India, Air India Express and AIX Connect (formerly AirAsia India) -- while it holds a majority of 51 per cent in Vistara. Singapore Airlines holds the remaining 49 per cent in Vistara. Following the completion of the harmonisation of the operating manuals, Air India said there will be two separate manuals, one for the full-service carrier Air India and the other for the low-cost cost-carrier Air India Express. Before this, all four airlines had separate operating manuals. Over the last 18 months, a team of more than 100 members have worked to align on the best practices and adopt common operating procedures, Air India noted. "This is an important milestone in the merger of the Tata Grou

Sky high: Premium airfares increase much faster than economy class

Premium economy fares have skyrocketed by up to 128.6 percent on major domestic routes such as Delhi-Mumbai and Mumbai-Bengaluru since 2019