For any airline to be eligible for restructuring, the current ratio has to be equal to or higher than 0.4, while 'debt to Ebitda' has to be equal to or less than 5.5.
Wadia group-owned no-frills airline GoAir on Monday announced that its managing director Jeh Wadia has stepped down from the position. The airline, however, said that Wadia will continue as a promoter. It also announced the appointment of aviation industry veteran Ben Baldanza as vice chairman at the carrier. Baldanza has been an advisor to the company since 2018 and director since 2019.
Travelling from South India to Kashmir in December was magical for Ganesh Nadar as he feasted his eyes on the beauty of the snow-capped Himalayas.
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.
Tony Fernandes had blamed Indian domestic carriers for preventing AirAsia's India launch earlier, too, but this was the first time he named an airline.
Delhi, Mumbai, Bengaluru, Ahmedabad, Kochi, Patna and Lucknow, among others, are the cities from where flights have been cancelled.
AirAsia India began operations in June 2014.
Tony Fernandes said the aviation sector here was a "double marathon" and not a "sprint".
Pricing to be outside federation's purview.
The slot constraint in Indian airports is also going to play a role in pushing airlines to have wide bodies.
No-frills airline IndiGo on Monday announced placing a firm order for 500 A320 family planes with European aviation major Airbus at the Paris Air Show. This is the largest ever aircraft order placed by any airline with Airbus, IndiGo said in a statement. Financial details of the order were not disclosed.
The issue had come up during a presentation by the Civil Aviation Ministry.
Here are the world's most courteous, friendly, helpful and efficient airline crews from each continent.
'I think some of us, like Mukesh Ambani, myself and those of us who head industrial units, ought to really focus on what we can really do to make the world a safer place, maybe 50 or 100 years from now.' 'For instance, how can we deal with climate change and global warming, right now?' 'The effects of it may not be felt now; in fact, we may pay a price for it today, but it will help the generations to follow.'
The GST rate is 5 per cent and 12 per cent on economy and business class tickets, respectively
Loans for Indian airlines have dried up as banks have become cautious to lend to the sector.
With cash shortage and plans going awry, the AirAsia owner is looking to cash out of the venture he built with Ratan Tata in 2013.
The Federation of Indian Airlines, the group formed by various carriers, has appointed Amitabh Khosla from CII as Executive Director to head its secretariat and plans to have a Director General later.
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.
GoAir reluctant to respond to overtures.
Shares of low-cost airline IndiGo hit record high on the bourses soon after reports of pilot crisis at Vistara emerged. The development also saw airfares surge by around 25 per cent on select routes. Shares of IndiGo hit a lifetime high of ~3,68.5 on April 2, 2024, and has gained 2.4 per cent on the bourses in April.
International and Indian airlines are refusing to refund cash and giving credit that can be used later.
The sources said that during the boarding, the male passenger behaved in an unruly manner and touched the female cabin crew member inappropriately.
The Group operates Lufthansa Airlines, Swiss Air and Austrian Airlines in India and flies across seven destinations -- New Delhi, Mumbai, Bangalore, Chennai, Kolkata, Hyderabad and Pune.
The Foreign Investment Promotion Board, headed by DEA Secretary Arvind Mayaram, approved the proposal at its meeting in New Delhi.
AirAsia India on Monday moved closer to getting off the ground by appointing S Ramadorai as its Chairman, ending months-long suspense and having in place the entire top management team.
It carried more than five million passengers across various sectors registering a growth of 20 per cent.
Full service carrier Vistara will hike salaries of its pilots and cabin crew by up to 8 per cent from April amid deployment of higher capacities to meet rising travel demand, according to a source. The source also claimed that some 30 pilots have quit the airline in the last six months and are serving notice period after getting job offers mainly from the Gulf carriers. On Thursday, a senior Vistara official confirmed the salary hike for the pilots and cabin crew but denied that 30 pilots have left the airline.
One reason is that airlines have ramped up capacity and expanded their presence in tier-II markets. The first of a three-part series analyses how the aviation industry is an outlier in the midst of an overall economic slowdown.
"When the A320 plane, which did not have any passengers as it was heading to Moscow to bring back stranded Indians under Vande Bharat Mission, had reached Uzbekistan's airspace, our team on ground realised that one of the pilots had tested COVID-positive," senior Air India officials said.
Companies across the sector are restructuring payrolls of crew, cutting allowances, and extending leave without pay duration as they realise they will have more aircraft and employees compared to customers.
Industrial disputes dropped 89.3 per cent to 34 in 2022 compared to 318 a decade ago, shows central and state data.
India's largest carrier IndiGo will cut 20 per cent of its flights due to lower demand as a rapidly spreading coronavirus upends the recovery of air travel. The airline was operating around 1,200 flights as on Saturday. Other airlines are being forced to cancel flights as states tighten restrictions to combat the spread of the virus, and people are dropping last-minute travel plans. Airlines carried 2,518 passengers on 260,251 flights on Saturday, compared to 2,794 passengers on 358,856 flights the day before.
Making a strong case for approval of their proposed airline JV, Tatas and Singapore Airlines have said that the venture would create significant job opportunities in India and would boost the country's image as an international investment destination.
Airlines are slashing salaries and re-negotiating vendor contracts as drastic fall in passengers has hurt revenue. Go First has cut staff salaries by around 16 per cent while IndiGo and SpiceJet are enforcing a leave without pay (LWP) policy and pay by the hour structure respectively to prune expenses. Vistara, which reversed pay cuts for junior staff including managers and cabin crew in March, is not touching employee salaries at the moment and instead focusing on vendor renegotiation and maximising cargo revenue. An Air India executive said efforts are on to pay salaries by 7th or 8th of June.
Vistara has a three-class configuration with business, premium economy and economy cabins.
As fliers find themselves spoilt for choice, airlines are looking at ways in which to position themselves distinctively.
Unlikely to happen in less than a year,despite the advantage of the parent airline's base.
Rivals say the concessions would benefit AirAsia alone.
Mittu Chandilya wants to bring a new meaning to flying for Indians.
