Wadia Group-owned Go First Airways' (Go First) insolvency plea could trigger a 'momentum rally' in shares of rival airlines, Interglobe Aviation (parent company of IndiGo) and SpiceJet, as they look to gain bankrupt airline's market share, said analysts. On the bourses, shares of InterGlobe Aviation hit a 52-week high of Rs 2,235.95, surging 8 per cent on the BSE in Wednesday's intra-day trade, before settling 4.5 per cent higher at Rs 2,164 apiece. Those of SpiceJet and Jet Airways, meanwhile, rallied up to 6 per cent in the intra-day trade, and ended 1 per cent and 5 per cent higher, respectively, following the development, which was announced post market hours on Tuesday.
India's international carrier Air India has come to the relief of Jet Airways passengers, after Jet had to cancel over 130 flights when 400 pilots failed to show up for work.
Konnect to be phased out as airline struggles to contain losses.
The airline had earlier taken all its stranded passengers in Brussels to the Dutch capital by road.
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IndiGo, which has about 550 flights a day, has increased the number of daily flights from Delhi to Hyderabad and Chennai to seven.
The top executives who have put in their papers with immediate effect include Jet's chief executive officer (CEO) Vinay Dube, chief finance officer (CFO) and deputy CEO Amit Agarwal and company secretary Kuldeep Sharma.
Speaking at the 2013 CAPA Australia Pacific Aviation Summit held in Sydney, Abu Dhabi-based Etihad Airline's President and CEO James Hogan said, "We are delighted to welcome Air Serbia to our equity alliance, and look forward to receiving final approvals from regulators in India of our investment in Jet Airways," he added.
Jason Unsworth is the founder and CEO of Atmosphere Intercontinental Airlines, which would establish a new premium airline group in four different countries.
Jet Airways announced the launch of a new all-economy, no-frills service called Jet Airways Konnect starting May 8.
In a bid to cash in on summer vacation rush, Jet Airways will launch new no-frills service - Jet Airways Konnect, from May 8 and will provide 10-15 per cent cheaper airfare on the service.
It will provide Jet Airways and the Arab airline members of AACO, with opportunities to create synergies.
Her photograph lying injured at the airport, epitomises the horrors of the terror attack in Brussels.
Such seats would be available on a pre-payment of Rs 500 per passenger on domestic flights and Rs 800 for international travel
The Jet Airways of old is no more and the industry mourns its demise. Anjuli Bhargava reports.
The airline will reconfigure its planes to add business class seats in its low-cost service
There are no Jet flights to and from Kolkata, Patna, Guwahati and other airports in the region. It also cancelled flights to London, Amsterdam and Paris from Mumbai, New Delhi and Bengaluru scheduled for April 12.
Jet has come under regulatory scrutiny twice this year.
A Russian fund submitted its interest to the resolution professional on February 14 and also hired a consultancy firm to help them with the bidding process.
This is the first time domestic players have announced steep cuts.
In these times of high losses, airlines are looking at multiple options to earn cash.
Ace stock market investor Rakesh Jhunjhunwala, often referred to as India's own Warren Buffet, passed away at the age of 62.
The winning bid attracted over 99 per cent votes, with lenders overwhelmingly voting for a revival instead of recovery through liquidation.
Another reason working in Air India's favour now is the government's plan to clean up part of the airline's burgeoning debt from its books - a major deterrent for investors when it attempted divestment the previous time.
Code share is a commercial agreement between two or more airlines that share the same flight, with all the partnering airlines able to sell seats on that particular flight.
Darwin Group has offered Rs 14,000-crore deal to the lenders for acquiring the grounded airline
The collapse of Jet Airways has everything to do with the falling number of wide-bodied aircraft.
The move will help Jet Airways strengthen its subsidiary JetLite's performance.
A continuation of the highest standard by the FAA will be a relief for Indian airlines especially the Tata group which intends to increase Air India flights on India-US routes. US aviation watchdog Federal Aviation Administration (FAA) has completed the audit of India's aviation regulator DGCA. Sources said that the FAA team was satisfied with the work and changes in regulations by India and is likely to maintain a Category 1 status rating under its International Aviation Safety Assessment (IASA) programme.
The move to increase sales comes ahead of Tata- Singapore Airlines' entry in the domestic market.
Jet had been operating two similar, low cost services under two different brand names, Jet Airways Konnect & Jet Lite for quite some time now.
In an emotionally-charged letter to the 22,000-strong employees, Goyal said the approval of the debt-recast plan will put the carrier on a "sounder and sustainable" financial footing.
The 72-hour introductory joint special fare offer will be available from July 25 to July 27 for a travel period between September 1 and June 15, 2015 for flights within India and between September 1 and November 30 this year for flights to international destinations, the statements said.
In terms of traded volume, 19.47 lakh shares were traded on the BSE, while over 1 crore shares were traded on the NSE.
Turkish Airlines is the national airline of Turkey and has already taken four Boeing 777 aircraft on lease from Jet Airways.
The incident happened when the air hostess asked the lawmaker not to throw the leftover food in the aisle.
Besides lining up Bali, Nairobi and Toronto flights, the airline is also planning flights from Mumbai to Hong Kong. The network expansion will help the national carrier grow its market share and capitalise on the capacity vaccum created by the collapse of Jet Airways.
The company is actively engaged with all its aircraft lessors and regularly providing them with updates on the efforts taken to improve liquidity.
Jet Airways remains the number one airline serving foreign routes.
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