Experts expect a net loss of Rs 26.7 billion for IndiGo and Rs 10.1 billion for SpiceJet in Q1FY21 driven by low traffic volume, low fleet utilisation and poor coverage of fixed costs.
Nivetha Thomas's style choices are chic, easy-to-wear and she absolutely loves desi attire.
Notwithstanding the sweltering heat engulfing major cities, travellers can find solace in the steady airfares to popular summer destinations like Srinagar, Bagdogra, and Kochi. According to airline executives, capacity increases and moderate demand have kept spot airfares from scorching cities like Delhi on a par with the same period last year.
A total of 17 pilots of Air India, IndiGo and Vistara died due to COVID-19 in May when the country saw the peak of the coronavirus pandemic's second wave, sources said on Thursday.
Police in Maharashtra's Nagpur have identified a 35-year-old man from Gondia in the state as the person behind a spate of hoax bomb threats that triggered panic, caused flight delays and led to increased security at airports and other establishments, an official said.
Passenger traffic to Lakshadweep more than doubled from April to June this year.
In 14 days, more than 350 flights operated by the Indian carriers have received hoax bomb threats. Most of the threats were issued through social media.
The civil aviation ministry on Friday asked airlines to ensure that there is no abnormal surge in airfares for flights to and from the national capital amid suspension of operations at Delhi airport's Terminal 1 following the roof collapse incident.
The threats via microblogging platform X came a day after three international flights originating from Mumbai received bomb threats, causing trouble to hundreds of passengers and airline crew.
The price of aviation turbine fuel has increased by 50 per cent since January and the situation has adversely impacted IndiGo, its CEO Ronojoy Dutta said on Wednesday. He said the government should bring aviation turbine fuel (ATF) under the Goods and Services Tax (GST) and make flying affordable for consumers and viable for airlines. IndiGo is India's largest airline and with around 55 per cent share in the domestic passenger market.
The airline will be inducting large number of A321s this year which will be largely used on international routes and high density domestic routes.
Of the 48 flights, which are not being operated as part of the curtailed schedule, 42 are of IndiGo and six of GoAir.
Based on the Skytrax ranking for 2018, IndiGo is number two among the best low-cost carriers in Asia, behind rival AirAsia.
Airports across the country witnessed chaotic scenes on Friday after dozens of flights were either delayed or cancelled after a widespread global computer outage that also hit operations like cash withdrawal at some banks, and impacted functioning of some brokerages. Globally, the Microsoft cloud outage led to US airlines cancelling flights, but the tech giant later reportedly said its cloud services outage in the Central US region has been resolved.
The genesis of the arbitration lies in a bitter public battle that began in July when Rakesh Gangwal wrote to capital market regulator Sebi alleging lack of corporate governance in the company. He alleged that Rahul Bhatia, who holds controlling power of the company, had used it to execute questionable related-party transactions.
IndiGo has confirmed the delivery of the next set of 25 ATR-72 jets and will be inducting around 10 planes by the end of this calendar year, making it the largest regional fleet operator in the country.
'My one recommendation would be to first quell the violence and then encourage dialogue and build the trust among the different communities.' 'This is not easy but necessary, for violence cannot be the way forward.'
It is for the first time in the history of IndiGo that we have undertaken such a painful measure, CEO Ronojoy Dutta said.
Lessor market sources said with the fuel prices remaining high, IndiGo would get better rates for the fuel-efficient A320neos.
Kamra allegedly heckled Goswami, the editor of Republic TV, on IndiGo's Mumbai-Lucknow (6E5317) flight on Tuesday.
IndiGo's co-founder and interim CEO Rahul Bhatia said profitability was significantly impacted by costs pressure from the increases in fuel price and the depreciation of rupee as well as competitive fare environment.
While IndiGo had 11.8 per cent of all the international seats to and fro India in the last week of August, Air India's seat share was 11.4 per cent. Emirates came third with 8.1 per cent, and rest of the airlines constituted 68 per cent of the seat share.
The introduction of these new flights would help IndiGo cross 650 flights mark as the it would offer a total of 671 flights per day connecting 39 destinations.
According to the annual report, Ronojoy Dutta's remuneration package includes a gross annual salary of $1.27 million, which would be payable in rupees. Also, he is entitled for a commitment bonus payout. In FY20, he received a remuneration of Rs 11.4 crore in his role as CEO and whole-time director.
On February 19, India's largest private low-fare airline IndiGo announced the resignation of one of the two founders, Rakesh Gangwal, from the airline's board and his intentions of offloading his stake in the airline over the next five years. The announcement came on a Friday, giving the stock markets the weekend to absorb the news but the markets registered a tepid response on Monday's opening. In contrast, in July 2019, when the fight between the two founders and erstwhile friends first became public, the markets reacted savagely. The IndiGo scrip at the time fell 19 per cent, wiping out millions of rupees of shareholder wealth before bouncing back. For readers who may be hazy on the details of the dispute, here is the context.
'IndiGo 2018 is a harsh, ultra-lean, mean, zero asset, fighting machine with aspirations of taking on the global long-haul low-cost market.'
Cyclone Fengal expected to make landfall near Puducherry.
IndiGo has been facing a probe by Sebi ever since a public spat came to light between two founders of the airline, including over certain related party transactions involving one of the warring promoters.
IndiGo's president and director Aditya Ghosh apologised for the incident and said stern action was taken against an airline staff for manhandling the passenger.
FSSAI is looking to tap the Airport Health Organisation to ensure that such incidents aren't reported in the future.
Earlier in the day, an IndiGo A320 passenger aircraft landed successfully at 1.32 pm at runway 08/26 of the under-construction Navi Mumbai International Airport, paving the way for the Navi Mumbai International Airport Ltd (NMIAL) to seek an aerodrome licence from the aviation safety regulator Directorate General of Civil Aviation (DGCA) to start commercial flight services.
In June IndiGo had implemented a mandatory leave without pay program for 1.5 days to 5 days. Subsequently, in July, IndiGo announced 5.5 additional days of LWP for its pilots, taking the effective number of LWP to 10 days. As cost cutting measure, the airline had also let go of 10 per cent of its employees and implemented a pay cut across the board.
The founders of IndiGo may have thought it's time to go for a rejig of the top leadership team which can take care of the growing demands of an airline that has grown much bigger than they could have ever imagined, says Shyamal Majumdar.
Flight services at Mumbai airport were severely impacted on Monday due to low visibility after heavy rains in the city, leading to runway operations being shut for over an hour and approximately 50 flights being cancelled, sources said.
Aditya Ghosh, with no prior aviation background or MBA degree, managed not only to become the CEO of an airline but even piloted it to the top with almost half of the market.
The carrier said for domestic flights the fees for cancellation and changes would now be Rs 3,500 and Rs 3,000 respectively, if it was done within three days of the flight's departure. Before this announcement, IndiGo charged a flat rate of Rs 3,000 and Rs 2,500 for cancellation and detail changes on domestic tickets.
Given its network and fleet, it has garnered the highest share of passenger growth.
IndiGo has proposed to issue 185,000 shares worth to Chief Executive and Whole-time Director Ronojoy Dutta under the company's Employee Stock Option Plan (ESOP). The shares that can be exercised at a price of Rs 765 apiece is worth Rs 14,15,25,000. Dutta can exercise 25 per cent of that at the end of first year, 35 per cent at the end of second year, and the remaining in December 2023 when his current tenure ends.
'We don't give any guidance about profitability. We have internal targets but we don't discuss them publicly.'
Despite having started at least a decade later than Jet Airways, IndiGo accounts for the lion's share in the domestic market
