Lessor market sources said with the fuel prices remaining high, IndiGo would get better rates for the fuel-efficient A320neos.
IndiGo has been facing a probe by Sebi ever since a public spat came to light between two founders of the airline, including over certain related party transactions involving one of the warring promoters.
The India meteorological department (IMD) on Wednesday evening issued a red alert for Mumbai and its neighbouring districts, predicting "extremely heavy rainfall".
To govern effectively, to legislate successfully, Modi must reach out to the Opposition. As long as he does not and he is showing no signs that he accepts the reality, the drift his fans are anguishing over will remain, cautions Aakar Patel.
IndiGo's co-founder and interim CEO Rahul Bhatia said profitability was significantly impacted by costs pressure from the increases in fuel price and the depreciation of rupee as well as competitive fare environment.
In June IndiGo had implemented a mandatory leave without pay program for 1.5 days to 5 days. Subsequently, in July, IndiGo announced 5.5 additional days of LWP for its pilots, taking the effective number of LWP to 10 days. As cost cutting measure, the airline had also let go of 10 per cent of its employees and implemented a pay cut across the board.
Jayanti Soni and her family return each year to Bhinmal, when they can, to celebrate Diwali in her family home.
'IndiGo 2018 is a harsh, ultra-lean, mean, zero asset, fighting machine with aspirations of taking on the global long-haul low-cost market.'
Going 'long' is becoming an overcrowded trade on Dalal Street, and any negative trigger could lead to a sharp correction, warn experts. However, given the strong momentum, particularly in IT stocks, the downside could be protected in the immediate term. "With the Nifty50 surging to new life-time highs, the bulls remain in control. Further upsides are likely once the immediate resistance of 21,492 is taken out.
IndiGo has proposed to issue 185,000 shares worth to Chief Executive and Whole-time Director Ronojoy Dutta under the company's Employee Stock Option Plan (ESOP). The shares that can be exercised at a price of Rs 765 apiece is worth Rs 14,15,25,000. Dutta can exercise 25 per cent of that at the end of first year, 35 per cent at the end of second year, and the remaining in December 2023 when his current tenure ends.
The introduction of these new flights would help IndiGo cross 650 flights mark as the it would offer a total of 671 flights per day connecting 39 destinations.
Analysts remain sceptical on the profitability from freighter business, saying that once normal air transport resumes and there's abundant belly capacity, the traditional economics of air cargo may not be that lucrative.
IndiGo's president and director Aditya Ghosh apologised for the incident and said stern action was taken against an airline staff for manhandling the passenger.
SpiceJet's resurgence, once the new funding is in place, has the potential to disrupt the Indian aviation market in 2024 as the airline will bring its grounded aircraft back to service and lease as many planes as possible to be competitively relevant, aviation consultancy firm Capa India said on Thursday. "Although the market for procuring aircraft in 2024 is exceptionally tight, we expect that SpiceJet will bring stored aircraft back into operations, and will wet or dry lease as much capacity as possible, in order to be competitively relevant. "This will have a material impact on the industry structure, and possibly on domestic profitability," Capa India said in its report.
With the Middle East tensions flaring up, Air India has temporarily suspended its Tel Aviv flights and airlines have charted alternative flight paths to avoid the Iranian airspace.
Domestic air traffic rose 4.8 per cent on an annual basis to 126.48 lakh in February, while more than 1.55 lakh passengers were affected by flight delays during the same period, according to official data released on Friday. In February, Air India's market share rose to 12.8 per cent from 12.2 per cent while that of IndiGo marginally dipped to 60.1 per cent from 60.2 per cent in January. The domestic air traffic climbed to 126.48 lakh in February compared to 120.69 lakh in the year-ago period, the Directorate General of Civil Aviation (DGCA) said.
The carrier said for domestic flights the fees for cancellation and changes would now be Rs 3,500 and Rs 3,000 respectively, if it was done within three days of the flight's departure. Before this announcement, IndiGo charged a flat rate of Rs 3,000 and Rs 2,500 for cancellation and detail changes on domestic tickets.
The founders of IndiGo may have thought it's time to go for a rejig of the top leadership team which can take care of the growing demands of an airline that has grown much bigger than they could have ever imagined, says Shyamal Majumdar.
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.
Aditya Ghosh, with no prior aviation background or MBA degree, managed not only to become the CEO of an airline but even piloted it to the top with almost half of the market.
Gangwal said he will not vote in favour of resolutions that intend to expand the size of the board to 10 members. Gangwal wants a seven-member board.
IndiGo, India's largest airline, is in talks to raise fresh funds as a second wave of pandemic has led to collapse in travel demand. The airline may look to raise Rs 3,500-4,000 crore. On Monday, only 97,761 passengers flew. With flyers cancelling bookings, airlines had to put aside flights and operated only 1,306 of them.
Given its network and fleet, it has garnered the highest share of passenger growth.
People in the know said the move would impact around 110 engines, virtually putting a spanner on the expansion plans of IndiGo - counted among the fastest growing airlines in the world.
Despite having started at least a decade later than Jet Airways, IndiGo accounts for the lion's share in the domestic market
The aircraft was taken to an isolated bay for a secondary ladder point check after a Bomb Threat Assessment Committee (BTAC) found the threat as 'specific', the sources said.
Airfares on major domestic routes such as Kolkata-Bagdogra, Delhi-Bengaluru, and Delhi-Mumbai have witnessed an increase of up to 12.7 per cent year-on-year (Y-o-Y) in May this year, according to data by Thomas Cook (India) and SOTC Travel. The recent increase in aviation turbine fuel prices, rupee depreciation, reduction of flights by key players, and grounding of planes due to engine supply issues have contributed to the rise in airfares, said aviation industry experts. However, the data also shows that summer airfares on key routes such as Delhi-Leh and Delhi-Kolkata have significantly decreased due to the introduction of new flights.
With this, the biggest buyer of Airbus SE A320neo planes seems to be moving away from Pratt & Whitney engines, which have been experiencing glitches. CFM International will deliver the first engine by 2020.
Flight operations at Chhatrapati Shivaji Maharaj International Airport were suspended twice for a brief period due to inclement weather and low visibility, a source said.
IndiGo is facing acute shortage of commanders amid aggressive expansion of its fleet. The carrier has more than 210 planes in its fleet.
The cancelled flights account for almost 10 per cent of the airline's operations
Industries such as aviation and hospitality have many silos within them and Aionos, the joint venture between Interglobe Enterprises (IGE) and Assago Group, is an attempt to bridge them and boost efficiencies using artificial intelligence (AI) solutions, Rahul Bhatia told Business Standard on Tuesday. Bhatia, the Group Managing Director of IGE, serves as the majority shareholder in India's largest airline, IndiGo. Additionally, IGE operates 21 hotels under the Ibis brand and runs a logistics company called Movin.
Initially, starting with a slightly curtailed capacity, the airline will increase the operating capacity over the subsequent months, also reopening selected international flights, depending on the existing international travel guidelines: IndiGo.
He said that the Sri Lankan authorities have arrested more of their associates but it won't be right to reveal any more details on them as the investigation is going on.
Rupesh Kumar Singh, 40, was sprayed with bullets while he was inside his SUV waiting for the gates of his residence in Punaichak locality in the city to open after his return from office on Tuesday evening.
The pilot wrote in his letter to airline's management that he was 'disheartened' to learn the carrier took action against the comedian without consulting him and solely on the basis of social media posts.
The Delhi airport, the country's busiest airport, on Friday early morning witnessed the collapse of a roof at Terminal 1 amid heavy rains that killed one person, prompting the government to order a detailed probe and an inspection of the structural strength of all airports.
This came even as the airline recorded the fastest domestic passenger growth rate of 26 per cent.
'Airlines are aware that during peak times like Diwali, demand will be high, so prices remain steep even for tickets purchased 90 days ahead.'
Nearly 200 of the 789 aircraft of Indian carriers are expected to be grounded by the end of March due to ongoing supply chain issues, according to the report released on Monday by CAPA India. At present, 161-166 aircraft are grounded. "More aircraft will be on the ground than expected due to serious supply chain issues, which were supposed to improve but actually deteriorated," it noted.
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