Corporate India is embarking on an ambitious investment drive, with capital expenditure (capex) expected to double to $850 billion over the next five years, according to a report by S&P Global Ratings. Indian power & transmission, airlines, and green hydrogen sectors would spearhead the spending, the report said.
More than 300 flights have been cancelled and at least 25 airports, including Srinagar, have been temporarily shut for operations amid restrictions in the wake of the armed forces launching missile attacks on terror targets in Pakistan on Wednesday morning.
Indian carriers are grappling with severe operational disruptions after Iran launched missile strikes on the US military base in Qatar late Monday. This led to airspace closures for long hours in parts of West Asia. Iran, Qatar, the UAE, Bahrain, and Kuwait shut down their skies following the attack, forcing airlines to cancel, divert, or delay flights through these vital corridors.
Civilian flight operations from the 32 airports across northern and western India, including Srinagar and Amritsar, were suspended from May 9 to May 15.
A senior government official confirmed that after a meeting with other stakeholders, the decision has been taken and airlines and airport authorities have been informed about it.
Executives from India's leading airlines are conducting internal meetings to devise alternative routes for their international flights that currently pass through Pakistani airspace.
The Boeing 787-8 aircraft -- VT-ANB -- was 11.5 years old and had flown for more than 41,000 hours, according to aviation analytics firm Cirium.
Aviation regulator DGCA plans to implement measures to control excessive air ticket price increases, following concerns raised during a parliamentary panel meeting. The meeting also addressed air safety issues in light of the Ahmedabad plane crash.
Passengers of an IndiGo flight from Mumbai to Doha waited inside the aircraft for more than four hours as the flight was delayed due to a technical issue on Sunday.
Air India will be commencing its scheduled operations -- two daily flights from the national capital -- to Dhaka on Wednesday.
Cooking oil is often discarded after being used for frying at home or in restaurants. However, a refinery of IndianOil has now won a certification to use the same oil to produce sustainable aviation fuel (SAF), the company chairman Arvinder Singh Sahney said.
Long-term macro trends indicate growth in demand for air travel. Trends from the ticketing website MakeMyTrip indicate a likely annual growth of between 11-17 per cent in Indian air travel demand over FY24-30. Through that period, InterGlobe Aviation or IndiGo may continue to make gains in market share in both domestic and international travel, aided by large fleet additions. IndiGo is the largest global customer of Airbus by far with 950 aircraft orders outstanding.
IndiGo share price today: IndiGo share price fell as much as 4.8 per cent to a low of Rs 4,275 per share on the BSE in Monday's intraday trade as investors booked profit in the stock post a its April-June quarter (Q1) results for financial year 2024-25 (FY25). The stock ended 1.36 per cent lower at Rs 4,430 as against a 23-points gain in the benchmark BSE Sensex. The selling also got exacerbated as the management commentary, post Q1FY25 results, highlighted that inflationary pressure could likely dent July-September (Q2FY25) performance.
He, however, cited the sensitivity of information due to the ongoing probe into the matter to decline to share more details, sources said.
'A last-second aborted landing at Mumbai airport left us speechless.'
On Wednesday, Surat airport remained operational for an extra one hour waiting for the landing of an Air India Express flight that took off more than an hour late from the national capital.
Air India and Air India Express on Tuesday progressively resumed their services to the Middle East, with flights to Dubai and Muscat, respectively, as countries in the region reopened their airspaces.
The ministry also said it remains committed to full transparency relating to the ongoing investigation and will follow all mandated protocols and norms in the larger interest of the highest standards of passenger Safety and convenience.
Air India has cancelled eight flights, including four international services, on Friday due to enhanced maintenance and operational reasons, the airline said.
Pakistan has extended the closure of its airspace for Indian flights until June 24, 2025, citing the International Civil Aviation Organisation (ICAO) rules that restrict such closures for a month at a time. The ban, which was first imposed in May after the April 22 Pahalgam terrorist attack, applies to all Indian-registered, operated, owned, or leased aircraft, including military aircraft. The decision comes after an IndiGo pilot requested permission to briefly use Pakistani airspace to avoid turbulence during a hailstorm, but the request was rejected.
Airline systems across airports, which were impacted due to a global IT outage on Friday, have started working normally, and all issues are likely to be resolved by noon on Saturday, Civil Aviation Minister K Rammohan Naidu said. The ministry is constantly monitoring the operations at airports and airlines to ensure travel readjustments and refunds are taken care of, he added.
The country's largest airline IndiGo on Thursday reported more than doubling of its net profit to Rs 1,894.8 crore in the three months ended March 2024 and announced the introduction of business class in select routes this year. The strong performance in the latest March quarter, which also marks six consecutive quarters of profitability, was fuelled by higher traffic, increased capacity and a favourable external environment.
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.
An IndiGo aircraft grazed the wings of an Air India Express plane at the Kolkata airport on Wednesday, leaving the wings of both aircraft damaged, officials said.
We've heard gooseflesh inducing chants of 'Sachin! Sachin!' reverberate across stadiums in India and abroad. The same chants were heard on a Kashmir-bound Indigo Airlines flight.
Civil Aviation Secretary Vumlunmang Vualnam on Thursday said the number of planes with domestic airlines will increase to 1,400 in the next five years as he highlighted the growth potential of the country's aviation space. Currently, the fleet is around 800 aircraft and leading carriers IndiGo and Air India have placed significant plane orders.
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.
'IndiGo 2018 is a harsh, ultra-lean, mean, zero asset, fighting machine with aspirations of taking on the global long-haul low-cost market.'
Airlines waive cancellation and rescheduling fees and boost flight capacity from Srinagar.
The Aircraft Accident Investigation Bureau (AAIB) is expected to release its preliminary report this week on the Air India plane crash in Ahmedabad, which resulted in the deaths of at least 260 people. The investigation is ongoing, with the help of foreign experts, and the black box and voice recorder data are being analyzed.
The international cargo operations of two major carriers - IndiGo and Air India Group (Air India and Vistara) - are experiencing opposite trajectories despite both the airlines significantly expanding their international flight offerings over the past year. During the fourth quarter of 2023-24, IndiGo's international non-passenger cargo business declined to 6,848 tonnes. This is an 18.2 per cent year-on-year (Y-o-Y) decrease, according to data from the Directorate General of Civil Aviation (DGCA)
Restricting air access to foreign carriers by not granting them more bilateral rights is akin to shooting yourself in the foot, as air transport is a wealth multiplier for India's economy, Emirates President Tim Clark said during a press conference held on the sidelines of the annual general meeting of the International Air Transport Association.
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.
InterGlobe Aviation's promoter Rakesh Gangwal on Monday sold shares worth Rs 6,785 crore of the company through open market transactions. The co-founder of the company, which operates the country's largest airline IndiGo, offloaded 2.25 crore shares of IndiGo amounting to 5.83 per cent stake, according to bulk deal data on BSE.
In little over a year, Air India and IndiGo have announced plans to purchase up to 170 wide-body planes as they bet on ambitious expansion and efforts also continue to make India a global aviation hub. Also, the two carriers' orders usher in European aircraft maker Airbus into the country's wide-body space, which has traditionally been dominated by US major Boeing. If narrow-body aircraft orders of Air India, IndiGo and Akasa Air are added to the list, the order book is well over 1,200 planes and that too in less than 14 months or since February 2023.
Had someone done a deliberate mischief, security officials would file FIR and deboard the passenger.
India is the third-largest domestic airline market in the world, up from number five position a decade ago, according to analysis based on OAG data. The data shows India's domestic airline capacity doubling in a decade from 7.9 million in April 2014 to 15.5 million in April 2024. In reaching the third slot, India has replaced Brazil (pushed to fourth place with 9.7 million) and Indonesia (relegated to fifth in the rankings with 9.2 million).
Even as New Delhi turns up the heat on Turkish firms over Ankara's public embrace of Islamabad, Indian companies rooted in Trkiye are staying put. Mahindra & Mahindra (M&M), Dabur India, and Jubilant FoodWorks say it's business as usual, with no plans to alter course despite the geopolitical chill.
The passenger He said that there were pregnant women and elderly people travelling on the plane, but despite it, "the Indigo team declined to help the passengers and asked them to make their own arrangements at a 3rd location".
With only a few days to go before the country celebrates Holi, several airline companies offered discounts on fares on the occasion of the festival of colours. While two airlines are providing discounts on both domestic and international networks, another has the offer only for the domestic sector. Low-cost airline Akasa Air said it is offering an all-inclusive one-way fare starting at Rs 1,499 on domestic routes.
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