Page 23 - Aviation Sector

Wadia Group not exiting; some people have shown interest in Go First: CEO

On Tuesday, Go First filed for bankruptcy with the National Company Law Tribunal, blaming Pratt & Whitney engines for the grounding of about half its fleet

Trading strategies for Aviation stocks amid Go First bankruptcy

Indigo shares may hit a new historic peak once it settles over Rs 2,200 level.

IndiGo, SpiceJet rally up to 8% as Go First files for bankruptcy

Shares of InterGlobe Aviation, which runs the country's largest airline IndiGo, hit a 52-week high of Rs 2,235.95, surging 8 per cent on the BSE.

Go First decides to cancel flights for three days starting Wednesday

Cash-strapped airline Go First has decided to cancel all its flights for three days starting from Wednesday, extending the suspension of operations by one more day, according to a communication. The airline, which has filed for voluntary insolvency resolution proceedings, earlier in the day said flights will be suspended for two days -- May 3 and 4. It operates around 180-185 flights daily. Amid uncertainties over its future course, Go First said it would provide a full refund of tickets. "We regret to inform that due to operational reasons, Go First flights scheduled for 3rd, 4th and 5th May 2023 have been cancelled. We apologise for the inconvenience caused by the flight cancellations," the airline said in a notice on its website. "We acknowledge the flight cancellations might have disrupted your travel plans and we are committed to providing all the assistance we can. We thank you for your patience," it said. Earlier in the day, Go First CEO Kaushik Khona said flights will be .

Go First cut flights even after Centre removed Covid-19 pandemic cap

IndiGo, which was also hit by engine woes, carried out more flights

Last 9 years have been transformative for India's aviation sector, says PM

Prime Minister Narendra Modi on Friday said the last nine years have been transformative for the country's aviation sector as existing airports were modernised, new airports built at a quick pace and a record number of people are flying. Modi made the comments while replying to a tweet by the civil aviation ministry on the completion of six years of the regional air connectivity scheme UDAN. Under the scheme, there are now 473 routes and 74 operational airports, heliports and water aerodromes. The first UDAN flight was operated between Shimla and Delhi on April 27, 2017. "The last 9 years have been transformative for India's aviation sector. Existing airports have been modernised, new airports have been built at quick pace and record number of people are flying. This enhanced connectivity has given a big impetus to commerce and tourism. #UDANat6," Modi said in a tweet. Domestic air traffic has been on an upward trajectory. Domestic airlines carried 375.04 lakh passengers during ...

Nusli Wadia-owned Go First to receive Rs 600 crore more by April end

This is in addition to Rs 3,000 crore already invested by promoters in the past 20 months

Domestic aviation sector recovering, passenger traffic 60% higher in FY23

The domestic aviation industry continues to witness recovery with air passenger traffic logging around 60 per growth at 13.60 crore in FY23 annually, ICRA said on Wednesday. Despite this, domestic air passenger traffic remained around 4 per cent below the pre-pandemic (FY20) volume of 14.15 crore, the credit rating agency said. The Indian carriers had flown a total of 8.52 crore passengers on local routes in the year ended March 2022, as per ICRA. Domestic passenger traffic stood at 1.30 crore in March this year, a growth of around 22 per cent from March 2022 volume of 1.06 crore, said Suprio Banerjee, Vice President, ICRA. In FY23, the overall airlines' capacity deployment was higher by 38 per cent as compared to FY22, he said. The airlines' capacity deployment last month was higher by 14 per cent year-on-year and around 7 per cent more than pre-COVID level of March 2019, ICRA said. The domestic passenger load factor of the airlines industry, according to ICRA is estimated at 89

Airbus first-quarter deliveries drop as supply woes extend into new year

Deliveries totaled 61 aircraft in March, the world's biggest planemaker said Tuesday

Airbus first-quarter deliveries drop as supply woes extend into new year

Deliveries totaled 61 aircraft in March, the world's biggest planemaker said Tuesday

Airbus first-quarter deliveries drop as supply woes extend into new year

Deliveries totaled 61 aircraft in March, the world's biggest planemaker said Tuesday

Air India's expansion plans stir tension over airline flying rights

Tensions over plans to transform AI into a global airline with hundreds of new jets rippled across aviation sector as foreign carriers clamoured for more access to the world's fastest-growing economy

India likely to require 31,000 pilots in next 20 years, says Boeing

US aircraft maker Boeing has said India may require 31,000 pilots and some 26,000 mechanics over the next 20 years amid the growing order book of the aircraft original equipment manufacturers. Speaking on the sidelines of a CII event here, Boeing India President Salil Gupte also said the South Asian region is expected to remain the fastest growing market globally over the next 20 years. India is going to need over 31,000 pilots and 26,000 mechanics over the next 20 years to take care of the aircraft coming in. This is as important a part of the Indian growth story as the aircraft (orders), Gupte told reporters. He said considering India's air traffic growth, a lot of focus has to be on making infrastructure robust, both hard infrastructure which includes airports as well as critical infrastructure, which includes pilots, among others. It may be mentioned here that Tata Group-owned Air India had last month announced placing orders for a total of 470 planes with both Boeing and Europ

DGCA de-registers 2 SpiceJet aircrafts on request from Dublin-based lessors

The deregistration of the aircraft "would not impact" the carrier's operations, according to a SpiceJet representative

AI CEO calls for concerted efforts to curb unruly passenger behaviour

Expressing concern over the rising number of instances involving unruly behaviours by passengers, Air India CEO Campbell Wilson has called for concerted industry efforts to contain the problem

Close to 1,500 flights from Kochi airport weekly during summer: CIAL

Close to 1,500 flights would be operated every week from the Cochin International Airport as part of its summer schedule starting from March 26 till October 28 this year, CIAL said. The summer schedule of 1,484 flight services every week would also include 332 weekly departures to international destinations by 31 airlines of which 23 are foreign carriers, the Cochin International Airport Ltd (CIAL) said in a release. Indigo, which tops the list with 63 weekly departures to international destinations, has also started operations on a new sector -- Kochi to Ras Al Khaimah in the UAE, the release said. The domestic services will see an increase in flights to Mumbai, Bengaluru and Hyderabad, it said. During the winter schedule there were 1,202 weekly services from the airport, it further said. "Over the past ten years, the aviation sector in India has undergone significant expansion and transformation. With more people choosing to travel by air than ever before, India is now the ...

Aviation sector seen returning to profit in FY24 on higher traffic, pricing

Although competition from Tatas and Akasa could increase, analysts see 25% upside in IndiGo

SpiceJet's $100 mln debt rejig: Carlyle Aviation to buy stakes in airline

In a move that will help reduce its debt by USD 100 million, cash-strapped SpiceJet on Monday announced that Carlyle Aviation Partners will acquire a 7.5 per cent stake in the airline by converting outstanding dues as well as snap up shareholding in the cargo business. As it faces multiple headwinds, the no-frills carrier will also tap the Qualified Institutional Buyer (QIB) route to raise up to Rs 2,500 crore. SpiceJet's board has approved restructuring more than USD 100 million outstanding dues to aircraft leasing firm Carlyle Aviation Partners into equity shares and Compulsorily Convertible Debentures (CCDs). Carlyle Aviation Partners is the commercial aviation investment and servicing arm of Carlyle's USD 143 billion Global Credit platform. Fresh equity shares to the tune of USD 29.5 million (around Rs 244.28 crore) will be issued to Carlyle Aviation Partners at Rs 48 per share or the Sebi-determined price, whichever is higher. Post deal, the lessor will have a 7.5 per cent sta

When customer is king but unpleasant: How bad behaviour affects air crew

Behind the exotic travel destinations, prim and proper clothing, smiles, flawless skin, and perfectly manicured hands of the air hostesses, there's a dark world of enormous struggle

IndiGo, Go First face P&W engine headwinds; over 50 planes on ground

More than 50 planes of IndiGo and Go First are on the ground due to Pratt & Whitney engine woes amid persisting supply chain headwinds, forcing airlines to explore wet leasing of aircraft and other options to minimise disruptions, according to officials. The country's largest airline IndiGo is looking at various options, including slowing down redeliveries through lease extensions, exploring the re-induction of aircraft into the fleet, and evaluating the wet lease options within the regulatory guidelines. While the global supply chain issues continue, especially in the wake of the ongoing Russia-Ukraine conflict, the Pratt & Whitney (P&W) engine problems have been there for quite sometime. Few months back, senior civil aviation ministry officials also had discussions with the engine maker on ways to improve the supply situation. A senior government official told PTI that there are at least 25 aircraft each of IndiGo and Go First that are on the ground due to P&W engine