Low-cost carriers SpiceJet and IndiGo were two of the main traders of aviation turbine fuel (ATF) at the Multi Commodity Exchange of India (MCX), which started trading of ATF futures on Monday, market sources said. Around Rs 34.8 crore worth of ATF was traded till five on Monday evening.
Domestic air passenger volume spiked 70.46 per cent in October to 89.85 lakh over the same month of 2020, DGCA data showed on Thursday. The Indian carriers had flown 52.71 lakh passengers in October last year. It may be recalled that domestic traffic along with international flight services remained shut for two months until May 25, 2020, when scheduled air services were resumed in a graded manner.
A passenger called Himadri Barman tested positive on Tuesday, and Nagendra Singh tested positive on Wednesday, said the director of Netaji Subhash Chandra Bose International Airport.
When the staff member politely asked him to be civil and not use such language, he started shouting even louder and used abusive words.
This is the third instance in the last three days when the aviation regulator grounded a plane after an incident.
Market estimates suggest the airline has already totted up Rs 1,800 crore of losses in FY20, and FY21 is expected to see losses in the region of Rs 2,500 crore to Rs 3,000 crore Many in the sector say that Vistara lacks the light-footedness of the airlines with which it competes, reports Anjuli Bhargava.
If that happens, Jet Airways will be the first bankrupt airline which will be revived under the Insolvency process.
This is the third incident of technical malfunction on a Go First aircraft in two days.
Planemakers have started pitching their latest aircraft to a privatised Air India which has been acquired by salt-to-steel conglomerate Tata Sons. European aerospace major Airbus on Monday said that it is in talks with the airline to sell its long haul aircraft Airbus A350-900. The wide-body aircraft is capable of flying non-stop between India and United States- one of the most popular and revenue generating routes.
The operations at the country's second busiest airport had witnessed heavy disruptions on Wednesday as rains crippled the city.
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.
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.
DGCA said there are 13 aircraft in the airline's fleet in which both the PW engines have been used for more than 3,000 hours.
A major mishap was averted on Wednesday when the wingtips of two aircraft -- one of them taxiing and the other on the verge of takeoff -- touched each other at the Mumbai's Chhatrapati Shivaji International Airport in Mumbai.
Airlines say that they are keeping their fingers crossed for December - another peak period - when, based on current bookings, the air fares for those who buy early are more or less in line with last year.
The selection gives a boost to the US engine firm, which lost out to rival manufacturer CFM International for IndiGo's 280 aircraft engine order in June.
Domestic air traffic clocked slowest growth in 4 years on high fares and flight cancellations.
A video clip of the scuffle inside the aircraft was shared widely on social media on Wednesday. In the clip, a man could be seen being slapped multiple times by a few co-passengers.
Low-cost carriers SpiceJet and Indigo effected a cut last week, while Jet Airways and national carrier Air India followed this week. Industry sources said Kingfisher was evaluating a similar move from April.
Uttam Ghosh offers his take on the decisions of airlines banning stand-up comedian Kunal Kamra for his alleged heckling television journalist Arnab Goswami aboard a flight on Tuesday.
Ace investor Rakesh Jhunjhunwala on Thursday said real estate developers are afflicted with very low return on capital as compared to bluechip stocks. Jhunjhunwala, who runs RARE Enterprises and is set to be a major shareholder in an upcoming airliner, said only the affordable housing developers can look at listing because of the volumes which they can deliver. It can be noted that very few developers like Macrotech Developers formerly Lodha, and DLF are listed on the bourses. Jhunjhunwala cited the case of DLF, saying the stock price plummeted to Rs 80 from Rs 1,300 per piece to illustrate the risks associated.
Ace stock market investor Rakesh Jhunjhunwala, often referred to as India's own Warren Buffet, passed away at the age of 62.
On Thursday, Prime Minister Narendra Modi had urged citizens to observe Janta curfew by not going out of their homes from 7 am to 9 am on Sunday amid novel coronavirus pandemic.
'The pay cuts have been very tough on those with entire families to support.'
Naresh Goyal, after being ousted with his wife from the board last week, and with his shareholding halved to 25 per cent, can still make a comeback by partnering a new investor and win back majority control.
While there is no concrete proposal as of now, possible options include raising funds through securitisation of ticket levy and reduction in number of subsidised seats on routes with higher demand.
Indigo continued its market leadership ferrying 5.77 million passengers in the month, followed by rival Spicejet with 1.86 million, and Air India carrying 1.55 million passengers. Goair, AirAsia India and Vistara transported 1.33 million, 7.72 lakh and 6.48 lakh passengers, respectively.
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