The market buzz is that the GoAir promoters are hoping for a valuation that is at least a little more than double its closest rival SpiceJet.
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.
Flight occupancy and fresh bookings have dropped over ten per cent in last few days as individuals and corporates defer trips. International travel is already hit due to a series of visa restrictions.
This is the third incident of technical malfunction on a Go First aircraft in two days.
Three Indian carriers -- SpiceJet, Vistara and Air India Express -- have Boeing 737 aircraft in their fleets.
IndiGo maintained its lead position with 49 per cent share of the domestic passenger market in May. SpiceJet's market share increased to 14.8 per cent in May, giving it the number two spot. The market share of Air India, GoAir, AirAsia and Vistara were 13.5 per cent, 11.1 per cent, 6.3 per cent and 4.7 per cent, respectively, in May this year.
Consumption-related stocks, such as hotels, and quick service restaurants (QSRs), have been hitting the ball out of the park ahead. On the other hand, the Miss World Pageant scheduled for later this year in New Delhi, too, could provide some tailwind to these stocks, especially hotels and aviation. However, analysts suggest investors put their best foot forward and buy these counters only on a decline given the recent rally and economic headwinds.
Asian Games gold-winning boxer Dingko Singh was on Saturday airlifted from Imphal to New Delhi for his cancer treatment. Dingko's transfer to Delhi by a SpiceJet air ambulance was facilitated by the Boxing Federation of India (BFI) after he missed a scheduled radiation therapy session due to the ongoing coronavirus-forced national lockdown.
India's aviation regulator DGCA on Thursday lifted the ban on Boeing 737 Max planes' commercial flight operations after almost two-and-half years. On March 13, 2019, all Boeing 737 Max planes were grounded in India by the Directorate General of Civil Aviation (DGCA) after the crash of an Ethiopian Airlines 737 Max plane on March 10 near Addis Ababa which had left 157 people, including four Indians, dead. Aircraft manufacturer Boeing has been modifying the 737 Max plane since March 2019 so that various countries' regulators, including the DGCA, permit its passenger flight operations again.
India's domestic air passenger traffic nearly doubled to 1.25 crore in January compared to 64.08 lakh recorded in the year-ago period, according to official data released on Monday. In January, IndiGo saw its domestic market share decline for the fifth consecutive month at 54.6 per cent. It carried 68.47 lakh passengers last month.
This is the third instance in the last three days when the aviation regulator grounded a plane after an incident.
A senior DGCA official said that the flight has been grounded and a detailed probe has been ordered into the matter. All the passengers are safe.
With airlines reporting multiple technical malfunction incidents, aviation regulator DGCA on Monday said it conducted spot checks and found that there is an insufficient number of engineering personnel certifying planes of various carriers before their departure. Before each departure, an aircraft is checked and certified by an aircraft maintenance engineer (AME). The DGCA has now issued guidelines for airlines on the deployment of AME personnel and directed them to comply by July 28.
A SpiceJet aircraft had booked a charter flight by a Madurai-based private person for the mid-air marriage ceremony but authorities were not informed regarding the marriage on board.
Tata Group-owned Air India, under its new chief executive officer and managing director Campbell Wilson, is optimising its domestic strategy under which the carrier is "densifying" its presence on metro-to-metro routes and exiting from unviable ones, Business Standard has learnt. Wilson took charge on July 25. Air India has increased its flights on metro-to-metro routes such as Delhi-Mumbai, Delhi-Bengaluru, Mumbai-Chennai, Mumbai-Bengaluru, and Hyderabad-Mumbai between June and November this year.
Many argue that the airline could achieve its full potential if Nusli Wadia were to run it the way he does Britannia.
While the number of operational airports in the country will rise to 131, other smaller towns too are seeing a surge in connectivity.
Around 1.12 crore domestic passengers travelled by air in December, approximately 6.7 per cent higher than the 1.05 crore who travelled in November, the country's aviation regulator said on Wednesday. Overall, 8.38 crore people travelled on domestic flights in 2021 as compared to 6.3 crore in 2020, showing a jump of 33 per cent, the Directorate General of Civil Aviation (DGCA) stated in its monthly statement. IndiGo -- India's largest carrier -- carried 61.41 lakh passengers in December, a 54.8 per cent share of the domestic market, it mentioned.
Aircraft lease rentals are fixed costs and account for around 15 per cent of an airline's expense and since these are paid in dollars are also subject to currency fluctuations.
The Delhi high court on Thursday dismissed BJP leader Subramanian Swamy's plea seeking to set aside the Air India divestment process on the allegation that the methodology adopted by the government in the valuation of the national carrier was "arbitrary, illegal and against public interest". The order was passed by a bench of Chief Justice D N Patel and Justice Jyoti Singh. The court said a detailed order will be uploaded. "Dr. Subramanian Swamy, sir we are dismissing this matter...," the bench said.
The DGCA conducted the spot checks as there have been many technical malfunction incidents in Indian carriers' planes during the last 45 days.
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.
Web designer Anvit Solomon Hembrom was arrested in New Delhi by sleuths from the cyber crime cell of Kolkata Police on charge of cheating, Deputy Commissioner of Police (Detective Department) Gyanwant Singh said in Kolkata on Friday.
'At no point did I endanger the safety of any passenger on board, the only damage I caused was to the inflated ego to the 'journalist' Arnab Goswami,' Kamra said.
However, the tender criteria demands that an entity must be eligible to conduct Beyond Visual Line of Sight operations in order to become eligible. Currently, no drone companies are eligible to do BVLOS operations, reports Arindam Majumder.
The load factor of six major domestic airlines--IndiGo, SpiceJet, Air India, GoAir, Vistara and AirAsia India -- stood between 70 per cent and 64.9 per cent in January.
Domestic airlines are preparing to offer lower fares for passengers without check-in bags in a move to improve seat occupancy and market share. IndiGo chief executive officer Ronojoy Dutta indicated the airline's interest to offer zero bag fares in an interaction with Bloomberg. Regulatory caps on fares and capacity related to Covid-19 have prevented IndiGo from taking a decision and the airline is discussing the issue with the government, he said.
Two issues dog the sale of the national carrier. One is the $2 billion bank guarantee the winning bidder will need to furnish. The other is the nearly 5000 lawsuits filed against Air India, many of them overseas. Anjuli Bhargava reports.
The airline has suspended its international operations till Monday.
Air India, IndiGo, and SpiceJet have suspended flights to China and Hong Kong.
Made from Jatropha crop, the fuel has been developed by the CSIR-Indian Institute of Petroleum, Dehradun.
Miscommunication with the ATC is said to have caused the near-miss. DGCA probe underway.
Nikhat Zareen, Manisha Moun and Parveen Hooda, who brought honour to the country at the women's World Boxing Championships 2022, were felicitated by Sports Minister Anurag Thakur.
A video clip of the heated exchange onboard the flight on December 16 was shared on social media on Wednesday.
Jet's air operator certificate will lapse on May 19.
Over 600 slots at three major airports - Heathrow, Dubai and New York's JFK International - could be at stake.
'The recent price hike would only be beneficial if the airlines continue to operate at 80 per cent airline capacity. An increase towards 90 or 100 per cent airline capacity would again add pressure to the fares as demand remains muted. Also, we are in the fourth quarter of the fiscal year which is a seasonally weaker quarter,' says an analyst.
SpiceJet is the only Boeing 737 MAX operator in India, with 13 aircraft of the type in its fleet and a total of 205 planes on order.
A senior official in the central labour commissioner's office said the efforts of the government were to resolve the cases amicably and not to press for legal action against employers. "Everyone is going through tough times. We could initiate legal action if we want but that's not the idea. We want to address the issues amicably," the official said.
From croissants to Galouti kebabs and Medu vada, Indian carriers, both low-cost and full-service, are revising their in-flight menus to offer passengers a differentiated fare as competition is heating up amid the boom in air travel with the waning of Covid-19. On Monday, Air India, which was taken over by the Tata Group on January 27, unveiled its new domestic in-flight menu comprising gourmet meals, new appetizers, desserts, and local dishes. Air India's economy class passengers would now be served dishes such as Mushroom cheese omelette, Dry jeera aloo wedges, and Garlic tossed spinach and corn for breakfast, and Vegetable biryani, Malabar chicken curry, and mixed vegetable poriyal for lunch.
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