Lessor market sources said with the fuel prices remaining high, IndiGo would get better rates for the fuel-efficient A320neos.
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.
IndiGo has confirmed the delivery of the next set of 25 ATR-72 jets and will be inducting around 10 planes by the end of this calendar year, making it the largest regional fleet operator in the country.
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.
Kamra allegedly heckled Goswami, the editor of Republic TV, on IndiGo's Mumbai-Lucknow (6E5317) flight on Tuesday.
It is for the first time in the history of IndiGo that we have undertaken such a painful measure, CEO Ronojoy Dutta said.
While IndiGo had 11.8 per cent of all the international seats to and fro India in the last week of August, Air India's seat share was 11.4 per cent. Emirates came third with 8.1 per cent, and rest of the airlines constituted 68 per cent of the seat share.
'IndiGo 2018 is a harsh, ultra-lean, mean, zero asset, fighting machine with aspirations of taking on the global long-haul low-cost market.'
According to the annual report, Ronojoy Dutta's remuneration package includes a gross annual salary of $1.27 million, which would be payable in rupees. Also, he is entitled for a commitment bonus payout. In FY20, he received a remuneration of Rs 11.4 crore in his role as CEO and whole-time director.
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.
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.
A 35-year-old man who was allegedly behind a series of hoax bomb threats to airports and railway stations across the country has been arrested after he presented himself before Nagpur Police, an official said on Friday.
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 trails of mega-mergers, tailwinds of expanding fleets, flights and airports will dot the fast-growing Indian aviation firmament in 2025, though the dark clouds of supply chain woes will persist longer. Also, new airline takeoffs, the future trajectory of revised norms to tackle pilot fatigue and efforts to reduce carbon emissions will be on the radar.
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.
On February 19, India's largest private low-fare airline IndiGo announced the resignation of one of the two founders, Rakesh Gangwal, from the airline's board and his intentions of offloading his stake in the airline over the next five years. The announcement came on a Friday, giving the stock markets the weekend to absorb the news but the markets registered a tepid response on Monday's opening. In contrast, in July 2019, when the fight between the two founders and erstwhile friends first became public, the markets reacted savagely. The IndiGo scrip at the time fell 19 per cent, wiping out millions of rupees of shareholder wealth before bouncing back. For readers who may be hazy on the details of the dispute, here is the context.
Given its network and fleet, it has garnered the highest share of passenger growth.
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.
Despite having started at least a decade later than Jet Airways, IndiGo accounts for the lion's share in the domestic market
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.
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.
Notwithstanding the sweltering heat engulfing major cities, travellers can find solace in the steady airfares to popular summer destinations like Srinagar, Bagdogra, and Kochi. According to airline executives, capacity increases and moderate demand have kept spot airfares from scorching cities like Delhi on a par with the same period last year.
With Valentine's Day falling on a Friday, travel is picking up as people look for quick getaways.
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 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.
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.
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.
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.
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.
Nivetha Thomas's style choices are chic, easy-to-wear and she absolutely loves desi attire.
Passenger traffic to Lakshadweep more than doubled from April to June this year.
This came even as the airline recorded the fastest domestic passenger growth rate of 26 per cent.
The Supreme Court of India has released an inquiry report into the alleged discovery of a large amount of cash at the residence of Delhi High Court judge Yashwant Varma. The report, which includes photos and videos, was uploaded on the court's website. Chief Justice of India Sanjiv Khanna has formed an in-house committee to investigate the matter and has asked the Delhi High Court Chief Justice to not assign any judicial work to Justice Varma. Justice Varma has denied the allegations, claiming they are part of a conspiracy to frame him. The inquiry report, submitted by the Delhi High Court Chief Justice, has been made public and calls for a deeper probe into the incident. The incident has raised concerns about judicial accountability and has prompted the Congress party to call for strong measures to uphold public trust in the judiciary.
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.
The cancelled flights account for almost 10 per cent of the airline's operations
IndiGo is facing acute shortage of commanders amid aggressive expansion of its fleet. The carrier has more than 210 planes in its fleet.
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.
Police in Maharashtra's Nagpur have identified a 35-year-old man from Gondia in the state as the person behind a spate of hoax bomb threats that triggered panic, caused flight delays and led to increased security at airports and other establishments, an official said.
The tech community, which was getting ready to use the ChatGPT fever and raise unlimited capital for their businesses, is going to face tougher obstacles now, predicts Ajit Balakrishnan.
In 14 days, more than 350 flights operated by the Indian carriers have received hoax bomb threats. Most of the threats were issued through social media.
