Low cost carrier SpiceJet on Monday announced a special fare of just Rs 99 on 21,000 select seats on the occasion of its first anniversary.
The bookings under the 'Super Summer Sale' offer will remain open till Wednesday mid-night.
We are only 9-10 months into the turnaround exercise: Maran
Despite a bleak operating environment, Jet Airways and SpiceJet have flown into the black. The turnaround may have more to do with their embattled rivals than anything else.
Sanjiv Kapoor questions the rival's change in strategy and claims of full load.
Cash-strapped domestic carrier Spicejet plans to raise Rs 3,200 crore through QIP, warrants and capital infusion by the promoter, the airline said in a presentation on Friday. The funds will be utilised in taking back the grounded fleet in operations, liability settlement, new fleet induction and other general purposes, Spicejet in the presentations. "Spicejet plan to raise Rs 2,500 crore through QIP and Rs 736 crore through Previous Warrants and promoter infusion, the airline said in an investor presentation," it said in a corporate presentation to investors ahead of its proposed capital infusion.
The development follows the acquisition of 37.5 per cent stake in the air-carrier by South-India based media baron, Kalanithi Maran.
Aiming to acquire a controlling stake in SpiceJet, media magnate Kalanithi Maran on Monday launched an open offer to acquire an additional 20 per cent stake in the no-frill airline for an estimated Rs 479.29 crore (Rs 4.8 billion).
SpiceJet did not provide the details of its ancillary revenue.
More than five years ago on an April evening, cash-starved Jet Airways announced temporary grounding of operations after flying as a full service airline for 25 years. Since then, more than 20,000 jobs and money worth thousands of crores owed to lenders, vendors and passengers evaporated while awaiting an insolvency resolution. And today, the Supreme Court ordered the airline's liquidation, marking the formal completion of a turbulent journey into the sunset and shattering lean revival hopes.
Jet Airways, IndiGo have gained market shares as SpiceJet cancels flights.
Some lessors have even taken the airline to court.
The fresh equity infusion comes at a time its rival Kingfisher Airline is struggling to be air-borne due to a severe cash-crunch.
The company's HR now sends flowers and a get well soon card to check in on its employees.
The trails of mega-mergers, tailwinds of expanding fleets, flights and airports will dot the fast-growing Indian aviation firmament in 2025, though the dark clouds of supply chain woes will persist longer. Also, new airline takeoffs, the future trajectory of revised norms to tackle pilot fatigue and efforts to reduce carbon emissions will be on the radar.
SpiceJet will begin regional operations from Tier-2 and 3 cities like Vijayawada, Tirupati, Mysore, Mangalore, Madurai, Nagpur and Indore using the Bombardier Q400 Next Gen turboprop aircraft.
As per the current policy, 100 per cent foreign investment is allowed in scheduled air transport service, domestic scheduled passenger airlines and regional air transport
Avani or SpiceJet: which is the love of his life? For Ajay Singh, that's a tough one to answer.
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.
More than 30 flights of various Indian airlines, including Vistara, Air India and IndiGo, received bomb threats on Saturday, according to sources.
Low-cost air carrier SpiceJet is looking at ways to raise around $75 million (Rs 335 crore). The airline has given the mandate to IDFC-SSKI for raising funds through preferential allotment of shares and strategic sale. "IDFC-SSKI is working on it and the money will be raised through both preferential allotment of shares and strategic sale," said a Mumbai-based investment banker, who is associated in this deal.
Air India, which operates 72 weekly flights from various cities to Dubai, and IndiGo cancelled their services on Wednesday.
SpiceJet is conducting a strategic review of fleet and network, which could see staff reductions and a possible phase out of Bombardier Q400 planes in three months.
Domestic air traffic rose 4.8 per cent on an annual basis to 126.48 lakh in February, while more than 1.55 lakh passengers were affected by flight delays during the same period, according to official data released on Friday. In February, Air India's market share rose to 12.8 per cent from 12.2 per cent while that of IndiGo marginally dipped to 60.1 per cent from 60.2 per cent in January. The domestic air traffic climbed to 126.48 lakh in February compared to 120.69 lakh in the year-ago period, the Directorate General of Civil Aviation (DGCA) said.
Delhi-based low-cost carrier SpiceJet reported a first quarter loss of Rs 129.2 crore from a profit of Rs 18 crore a year earlier.
He, however, cited the sensitivity of information due to the ongoing probe into the matter to decline to share more details, sources said.
Amid a massive global outage that hit operations of airlines, banks and businesses across the globe, Microsoft on Friday said that it is aware of the issue affecting Windows devices due to an update from a third-party software platform.
Civil Aviation minister says that certain regulations restricting the growth in the aviation sector needs to be re-looked to attract investments.
Budget carrier SpiceJet on Friday triggered off a price war in the aviation industry announcing one-way discounted fares starting Rs 1,999 for travel between September and December this year, prompting IndiGo to follow with a similar offer soon after.
SpiceJet, on the verge of a shutdown two years ago, is now looking at joining a burgeoning global league of low-cost long-haul airlines by providing a Rs 30,000 to-and-fro fare to western European destinations. Chairman and managing director Ajay Singh elaborates.
Capa lauded govt's efforts in rescuing SpiceJet.
The aviation regulator slapped fines amounting to Rs 2.75 crore on Indian airlines in 2023, marking a 39 per cent rise in financial penalties from Rs 1.97 crore in 2022. The Directorate General of Civil Aviation (DGCA) said it imposed fines on domestic carriers such as Air India, IndiGo, AirAsia India and SpiceJet for issues related to non-compliance in 2023. The regulator also carried out a record number of 5,745 surveillance activities in the year to ensure compliance by airlines, aerodrome operators, and aviation personnel among others.
Budget airline SpiceJet's net loss widened to Rs 321.51 crore for the quarter ended March 31, 2014.
'The combination of star power, compelling storytelling, and action-packed drama promises to set the box office ablaze and kickstart the new quarter on a spectacular high note.'
The on-time performance (OTP) of Indian carriers took a major dip in January as dense fog foiled their flight schedules. According to data from the Ministry of Civil Aviation reviewed by Business Standard, five out of six major Indian carriers - IndiGo, Air India, AIX Connect, Akasa Air, and Vistara - recorded their lowest OTPs in at least the last 11 months. In response to queries, an Air India spokesperson said that during this winter, northern India experienced unusually prolonged periods of dense fog affecting traffic at the airline's two largest hubs -- Delhi and Mumbai.
The court had on July 21 issued summons to the firm, Maran and Natrajhen and directed them to appear today after taking cognizance of two I-T complaints filed against them.
There was no loud noise of anything breaking when the rods of a portion of a roof collapsed at the Delhi airport's Terminal-1, Krishna Kumar, a cab driver who was at the site of the incident, said on Friday.
Indigo has zero competition on 61.2 per cent of its 838 domestic routes.
Airfares have nearly doubled in a matter of days on routes hit by the cancellation of 200 weekly flights linking Mumbai airport to 12 cities. The fares have soared as high as 193 per cent following a recent government order to cancel flights to ease "persistent congestion" that was causing delays. Aside from the reduction in flights on 12 routes, two destinations - Hubli and Jabalpur - have lost connectivity with Mumbai since last week, according to aviation analytics firm Cirium's data reviewed
Sources in the government said the roof that collapsed at T1 was constructed during 2008-09 and that the work was contracted out by GMR to private contractors.
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