If all 102 grounded planes could fly, there will theoretically be 400 more Delhi-Mumbai flights every day.
The inactivity of Go First may help other airlines in India's competitive market as it had a 7.8 per cent market share.
Around 200 people were inside when a Hindi film was playing at the time, according to police.
Indian carriers transported 12.8 million domestic passengers in March 2023, a year-on-year growth of 21.41 per cent. India's largest carrier IndiGo shored up its domestic market share from 53.8 per cent in Q4 of FY22 to 55.7 per cent in Q4 of FY23, according to the Directorate General of Civil Aviation (DGCA) data released on Monday.
InterGlobe Aviation, the operator of India's leading airline IndiGo, delivered a better than expected performance across most parameters in Q2FY24. The company posted its fourth consecutive quarter of net profit of Rs 188 crore. It had reported a loss of Rs 1,583 crore in the same quarter a year ago.
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.
Go First's lenders have agreed in principle to support the airline's request for Rs 400 crore interim funding to restart its operations. The airline temporarily halted operations on May 2, and its insolvency plea was admitted by the National Company Law Tribunal (NCLT) on May 10. On Wednesday, the airline's resolution professional Shailendra Ajmera submitted a business plan and a request for over Rs 400 crore funding to airline's committee of creditors (CoC).
The National Company Law Tribunal (NCLT) on Thursday reserved its order on crisis-hit airline Go First's plea seeking voluntary insolvency resolution proceedings and interim moratorium on financial obligations while aircraft lessors vehemently opposed the petition. Amid the airline facing severe financial crunch and cancelling flights, a two-member NCLT bench comprising Justice Ramalingam Sudhakar and Member L N Gupta heard the arguments for and against the petition for nearly four hours. As aircraft lessors opposed the plea, the counsels for Go First said the petition was not a malicious one to avoid payment of dues to its creditors but to save the company.
Crisis-hit Go First has sought various interim directions from the National Company Law Tribunal, including restraining lessors from taking back aircraft and regulator DGCA from taking any adverse action against the airline. The Wadia group-owned airline, which has liabilities worth Rs 11,463 crore, has sought voluntary insolvency resolution proceedings and the plea is set to be heard by the Delhi bench of the NCLT on Thursday. Go First has cancelled all its flights for three days starting from May 3.
Its association with India is over 70 years old and spans both civil and military aviation. The Douglas DC-3 transport aircraft used by the air force beginning the 1940s and the iconic Boeing 747 aircraft flown by Air India, both had Pratt & Whitney (P&W) engines. The Indian Air Force's present-day, heavy-lift C-17 Globemaster III and the yet-to-be-inducted C-295 planes, too, have P&W power plants.
Boroscopic inspection of all operational engines of all Q400 engines within one week, immediate inspection of Magnetic Chip Detectors (MCD), drawing of engine oil samples every 15 days for analysis and inspection of bleed-off valve screen and housing for evidence of oil wetness in weekly check, are among the other directions.
Despite the best ever quarterly net profit of Rs 3,091 crore during April-June of financial year 2023-24 (Q1FY24), challenges are mounting for InterGlobe Aviation-run IndiGo in the near term, said analysts. Given this, most brokerages have retained their ratings from 'buy to underperform', as well as their target price for the stock. For instance, Motilal Oswal Financial Services has retained its 'neutral' rating on the scrip as it believes the low-cost airline is facing teething issues at present.
The talented artiste was invited to sing at the Tiffany's fashion show that was hosted at the Hermitage Hotel, Monaco, as part of the festival this year.
The Airbus C-295 can carry up to 71 troops, or 50 paratroopers with battle loads. It can ferry supplies to locations inaccessible to the IAF's heavy transport fleet.
From a surge in airfares to rattled aircraft lessors to thousands of employees staring at uncertainty, it has been a month of continued turbulence since cash-strapped Go First suspended flights from May 3. As the government and other stakeholders hope that Go First restarts operations at the earliest, plans are being worked out for the budget airline's revival. A section of Go First staff are optimistic about restarting of operations, another section are pessimistic about the airline's future course considering what had happened to erstwhile Kingfisher Airlines and Jet Airways, according to employees who spoke to PTI.
Two B-1B Lancer supersonic heavy bomber jets of the US Air Force on Tuesday joined the American exhibits at Aero India at the Yelahanka air base, in a reflection of the deeper strategic ties between the two countries.
Aviation regulator DGCA has allowed IndiGo to wet lease wide-body Boeing planes from Turkish Airlines for up to six months and has rejected the domestic carrier's request for leasing the aircraft for up to two years, according to sources. The Directorate General of Civil Aviation (DGCA) turned down the request of the country's largest airline to wet lease the aircraft for a longer period, citing that the move could become diversion of traffic rights in collusion with a strong foreign carrier that will mainly feed the latter's hub abroad with more passengers from India, the sources said. IndiGo, which currently has only narrow-body planes in its fleet, decided to lease wide-body aircraft to operate more flights on international routes to meet rising demand.
While Australia scored a six-wicket win over the West Indies, Sri Lanka beat Scotland by 40 runs in two Group D matches.
The aviation regulator is investigating the incidents and both planes, with Pratt and Whitney engines, will fly only when cleared by it, the officials said.
The National Company Law Tribunal (NCLT) on Wednesday admitted Go First's voluntary plea to initiate the insolvency resolution process against the airline. A two-member bench comprising President Justice Ramalingam Sudhakar and L N Gupta also appointed Abhliash Lal as interim resolution professional (IRP) to run the debt-ridden company. It has also put the company under protection of moratorium and directed the suspended board of directors to assist the IRP to run the company during insolvency proceedings.
India does not have the facilities needed for developing advanced aerospace products. There is only one wind tunnel in the country, the almost six decade old one in the National Aeronautics Laboratory.
IndiGo and GoAir, which have Pratt & Whitney-powered Airbus A320 Neo planes, have been facing problems with these engines, manufactured by the US firm, since their induction three years ago.
Some scheduled flights as well as those for which ticket sales are open would be affected.
Singh made the remarks while addressing a "CEOs' Roundtable" at the 14th edition of Aero India at the Yelahanka Air Force station complex on the outskirts of Bengaluru.
With all their top players recovering from COVID-19, a confident India will take on Australia in a blockbuster semi-final of the Under-19 World Cup in Coolidge, Antigua, on Wednesday.
People in the know said the move would impact around 110 engines, virtually putting a spanner on the expansion plans of IndiGo - counted among the fastest growing airlines in the world.
Following a year of pandemic prompted no-show and another of backlash for its staggering lack of representation, the Golden Globes felt more atonement than awards ceremony in its 80th iteration.
At present, six A320 Neo of IndiGo & GoAir are grounded waiting for engine replacement
Skipper Yash Dhull gave a glimpse of his rare talent with a well-paced hundred which guided powerhouse India into its fourth consecutive Under-19 World Cup final.
The dinner Jill Biden and her husband US President Joe Biden hosted for Indian prime minister Narendra Modi, June 22, at the White House brought together, Indians and Americans from so many firmaments.
Welcome to the world of tech start-ups Ms Chopra!
DGCA said there are 13 aircraft in the airline's fleet in which both the PW engines have been used for more than 3,000 hours.
Dunith Wellalage was again the star for Sri Lanka as he took a five-fer and scored 52 to guide his side to a four-wicket victory over Australia in the ICC Under 19 Men's Cricket World Cup.
With this, the biggest buyer of Airbus SE A320neo planes seems to be moving away from Pratt & Whitney engines, which have been experiencing glitches. CFM International will deliver the first engine by 2020.
Saturday's mid-air engine failure on Indigo flight prompts scrutiny.
Banned Australia batsman David Warner will attempt to get his career back on track by playing the start of the Sydney grade cricket season with Randwick Petersham.
The airline is currently working to normalise its operations with the support of its pilots and cabin crew and expects to be on track by the end of this week, it said.
IndiGo confirmed the incident but said the aircraft did not face any technical issue in the past.
The Royal Observatory Greenwich has announced the shortlisted images of the 2022 Astronomy Photographer of the Year!
Engine snag forces IndiGo to ground 7 new aircraft
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