India remained the world's fastest growing domestic aviation market with 51 straight months of doubled-digit traffic growth but the woes of passengers as well as carriers manifested in myriad forms.
IndiGo clearly needs to refresh its HR and training manual, says Shyamal Majumdar.
An Indigo plane from Delhi with 182 people on board caught fire on Saturday while landing at Kathmandu airport but all passengers and crew escaped unhurt after they were safely evacuated.
Its revenue during the period grew by 65 per cent to touch Rs 9,458 crore (Rs 94.58 billion), as against Rs 5,718 crore (Rs 57.18 billion) during FY12.
IndiGo confirmed the incident but said the aircraft did not face any technical issue in the past.
The genesis of the arbitration lies in a bitter public battle that began in July when Rakesh Gangwal wrote to capital market regulator Sebi alleging lack of corporate governance in the company. He alleged that Rahul Bhatia, who holds controlling power of the company, had used it to execute questionable related-party transactions.
The DGCA cracked the whip after an IndiGo flight bound for Lucknow returned to Ahmedabad within 40 minutes of its getting airborne due to a mid-air engine failure.
IndiGo's ascent is not without its risks, however.
The civil aviation ministry has increased the seat capacity between India and Abu Dhabi from 13,000 seats/week to over 50,000 seats/week
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.
The civil aviation ministry is to issue new route dispersal guidelines this month.
IndiGo declined to comment on the matter
While most of these commanders quit the airline for better prospects, some of them also parted ways due to the work culture
The Indian aviation sector is on the cusp of a change as airlines look to induct a record number of aircraft. This, analysts said, will put the sector on a growth runway, though keeping it viable for only long-term investors. According to Vinit Bolinjkar, head of research at Ventura Securities, expectations of strong air traffic, coupled with low penetration, is the prime reason for a solid long-term outlook.
Rising crude oil prices and muted passenger traffic in the July-September quarter (second quarter, or Q2) of 2023-24 (FY24) have raised concerns about the profitability of listed aviation players. These two concerns have caused the stock of InterGlobe Aviation (IndiGo), the largest player in the sector, to slip by 11 per cent since its highs at the end of July. Nuvama Research expects yields to cool down in the near term due to seasonality, rising crude oil prices, and higher capacity.
IndiGo, the country's latest low-fare domestic airline, is planning to fly to 30 cities across the country with a fleet of 40 A-320s by 2010.
IndiGo, Vistara, Air India, SpiceJet have cancelled their flights, while GoAir and AirAsia India announced waiving date change/ cancellation fee.
The airline has also inked a deal to take 12 A320s from Singapore's Tiger Airways on lease.
Just after the boarding completed, a passenger suddenly opened the emergency exit door and inflated the slide, the airline said.
As photographs and video clips were distributed on social media, aviation security watchdog BCAS issued show cause notices to IndiGo and Mumbai airport operator MIAL over the incident, official sources said on Tuesday.
The bookings of tickets under the four-day "festive sale" offer have begun from Monday for the travel period from September 18, 2018 to March 30, 2019, IndiGo said.
Hit by the third wave of the COVID-19 pandemic and soaring fuel prices, airlines are flying towards record losses with a likely loss of a whopping Rs 20,000 crore for the full fiscal year, warns a report. The airlines are flying towards their steepest-ever net loss of over Rs 20,000 crore this fiscal, which will be 44 per cent more than Rs 13,853 crore they bled last fiscal, Crisil said in a report. This will push back the industry's recovery beyond fiscal 2023, the report based on three large listed airlines--Indigo, Spicejet, and Air India--which together command 75 per cent of the domestic traffic, warned.
Loans for Indian airlines have dried up as banks have become cautious to lend to the sector.
IndiGo is arguably more a financial services company than airline.
The other three airlines that have been probed in this matter are SpiceJet, GoAir and Air India
The budget carrier would now be operating 399 flights per day.
According to the latest figures released by the DGCA, IndiGo, with 27 per cent market share in July this year, has edged past Jet, which managed 26.6 per cent share.
'This trend will continue as long as the bull run continues.'
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
The airline is currently operating on the Delhi-Dubai, Mumbai-Dubai, Delhi-Singapore and Mumbai-Muscat routes.
The sessions court in Mumbai on Wednesday granted bail to Indigo Airlines co-pilot Arjun Menon, accused of abetting the suicide of airhostess Sucheta Anand
Another nine Indigo flights came under the scanner after warnings that they have bombs on board.
IndiGo, which has grown rapidly to become India's biggest airline by market share, has now ordered 530 A320 family planes from Airbus, the planemaker said in a statement.
Navi Mumbai airport's construction is facing delays, and is likely to commence commercial operations in 2025 instead of 2024, aviation consultancy firm CAPA has said in a report. When asked about this matter, the Adani Group told Business Standard that the Navi Mumbai airport project is "being executed as per scheduled implementation plan and will be operational by the original target date of December, 2024, without any delay". Navi Mumbai International Airport Limited (NMIAL), responsible for both the construction and operation of the airport, is a subsidiary of the Adani Group.
Top no-frills carrier IndiGo on Tuesday approached capital markets regulator Sebi with Initial Public Offer.
The airline has already set up a team of senior executives to work on the fake licensing issue and 'we are reviewing all our internal records and providing them to the DGCA to help them with their investigation', the sources said.
'I hope they all survive, but it is a tough world.' 'The carriers who are already established are already struggling.'
Cracks started appearing on Saturday in a grouping of airlines that was planning to suspend flights on August 18 to protest high jet fuel prices and taxes, with budget carrier IndiGo saying it would operate as usual.
Indian airline Go First is considering legal action against Pratt and Whitney (PW) for failing to provide compensation after March 2020 for planes grounded due to engine supply delays, sources said on Thursday. About 90 per cent of the airline's fleet of aircraft uses PW engines. About 24 of the airline's 55 planes are grounded due to delays in engine supply by PW.
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