SpiceJet had bet its fortunes heavily on the new version of the 737 of which it has 13 planes in its fleet and another 193 aircraft on order
The airfares are already 15 per cent higher than last season and due to this shortage it will go higher, said Sharat Dhall, COO of Yatra.com.
About 350 Boeing 737 Max 8 are currently in service with airlines around the world, with thousands more on order. Boeing insists it has no reason to pull the popular aircraft from the skies.
DGCA has told the airline that only "air worthy" aircraft, which are completely fit for flying, should be used in operations.
It neither mentions timelines for refund or compensation, nor talks about penal provisions for airlines.
It has a fleet of 47 planes including 17 Airbus A320Neo. The remainder include Airbus A320Ceo planes.
IndiGo's situation points to a deeper malaise where skill shortage can challenge India's status as the fastest-growing aviation market, say experts.
Domestic air traffic clocked slowest growth in 4 years on high fares and flight cancellations.
Additionally, promoter Naresh Goyal and Etihad Airways, which owns a 24 per cent stake in the airline, will infuse around Rs 2,000 crore into the airline, sources aware of the development said.
To maintain smooth flight operations and avert a staff crisis, India's airlines will require an additional 2,000 pilots. Unfortunately, the number of additional commanders being recruited is slowing down.
According to a survey by travel portal ixigo, economy airfares from Mumbai have shot up by almost 25- 30 per cent till the end of March.
Currently, airlines are required to pay compensation of Rs 5,000-10,000 to a passenger, in addition to a ticket refund in case of flight cancellation. Soon, all that may change. However, compensation is payable if the airline does not give advance intimation to a passenger, which is at least 24 hours before departure.
The airline has proposed to raise authorised share capital to Rs 2,200 crore. This would comprise Rs 680 crore of equity capital and Rs 1,520 crore of preference share capital.
These measures are part of initiatives by these nations to attract Indian tourists, says Aneesh Phadnis.
The airline will be inducting large number of A321s this year which will be largely used on international routes and high density domestic routes.
Milk booths by Amul and Mother Dairy, a Kumbh phone by Reliance Jio, Dabur's toothpaste dispensers are among the many initiatives by brands steadying for a stint on haloed ground.
While Jet founder Naresh Goyal said he was willing to infuse Rs 700 crore and also pledge all his shares in the company provided he can have at least 25 per cent stake, the airline's foreign partner Etihad Airways insists he must not keep more than a 22 per cent stake.
The airline has struggled to pay salaries and vendors on time and its Rs 10,963 crore fund and non fund based facilities have now been assigned 'D' rating by ICRA - the seventh rating downgrade since March 2017.
Fares to key routes such as Delhi, Bengaluru, and Hyderabad may shoot up 80 per cent
Over the past several months, the airline has struggled to pay vendors and staff salaries on time.
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