IndiGo CEO Ronojoy Dutta announced on Thursday that the airline was instituting pay cuts for senior employees and he would himself take the highest cut of 25 per cent amid the novel coronavirus pandemic that has hit the aviation industry hard.
Domestic carriers flew 28 per cent more people last month compared to a year ago, as no-frill carrier IndiGo remained the market leader by cornering 28 per cent share.
An anonymous phone call threatening that a bomb has been placed in a Kolkata-bound Indigo Airlines flight with 130 people, including six crew, on board on Wednesday sent security agencies into a tizzy at the airport in New Delhi.
Domestic air traffic logged 14.35 per cent growth in November as compared to the corresponding period last year propelled by the festive season rush.
The petrol versions carry a price tag ranging from Rs 424,000 to Rs 484,000, while the two diesel models have been priced at Rs 480,000 and Rs 519,000.
Top no-frills carrier IndiGo on Tuesday approached capital markets regulator Sebi with Initial Public Offer.
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.
Having introduced common rail direct injection engine in its Indigo XL sedan, Tata Motors has decided to introduce the technology in all diesel models of its Indigo and Indica cars within next 4 to 6 months.
The airline is gearing up to come out with an initial public offer.
An average Indian couple spends around 2x on weddings versus education (pre-primary to graduation).
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.
India's largest airline has also told its crew members -- who are working on flights connecting India with East Asian countries like Thailand and Singapore -- to wear N95 masks at all times when they are on ground.
IndiGo's president Aditya Ghosh shares the growth plan.
The company commands a market valuation of Rs 31,702.37 crore (Rs 317.02 billion).
InterGlobe Aviation has already raised Rs 832 crore from anchor investors.
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.
IndiGo carried 12.05 lakh passengers last month, followed by Jet Airways-JetLite combined flying 11.01 lakh.
Tata Engineering is to begin deliveries of its three box sedan Indigo from Saturday.
154 people on board an IndiGo aircraft had a narrow escape on Wednesday following a problem in its landing gear that caused thick smoke to emanate after touching down at the airport in New Delhi, leaving some passengers with minor injuries during evacuation.
'Domestic will remain very much the core of what IndiGo is.' 'But the emphasis in our next growth phase is going to be on the international side.'
Leading low-cost carrier IndiGo has received the government's permission to buy 150 aircraft in the next 2-3 years, a senior company official said.
A negative net worth implies the company's liabilities are more than its assets
The airline has also inked a deal to take 12 A320s from Singapore's Tiger Airways on lease.
While most of these commanders quit the airline for better prospects, some of them also parted ways due to the work culture
No-frills carrier IndiGo Airlines on Friday said it will increase frequencies on the domestic and international routes this summer as it adds nine aircraft to its fleet by the year end.
IndiGo had debt of Rs 3,912 crore at end of the June quarter.
The car gives a mileage of 24 km per kg of CNG.
The spot airfares on major routes, where Vistara cancelled flights on Tuesday, have surged by up to 38 per cent, according to data provided by Cleartrip. The spot airfares for Tuesday were compared with March 5. Vistara has cancelled 52 flights on routes such as Delhi-Indore, Delhi-Srinagar, Mumbai-Kochi, and Bengaluru-Udaipur as a certain section of pilots went on sick leave, reportedly protesting against the new salary structure that was introduced as part of the airline's merger with Air India.
Ghosh, 43, will be reporting to 25-year-old Ritesh Agarwal, who founded OYO with a single hotel in 2013.
In a move that signals a fresh round of consolidation in the recession-hit aviation industry, budget carrier SpiceJet may pick 7.5 per cent stake in another low-cost airline IndiGo.
This will make buying tickets on airlines' websites cheaper as it will not include the transaction fee.
Low cost air-carrier IndiGo has flagged off its maiden foray into the international market.
Air India (AI)'s rise could be at the expense of three "super-connector" hubs - Doha in Qatar, and Dubai and Abu Dhabi in the UAE - as the Indian passenger would any day prefer direct flights of their national airline that is providing excellent on-time service, Arved von zur Muehlen, chief commercial officer of Saudia Airlines, said on Thursday.
The aviation regulator slapped fines amounting to Rs 2.75 crore on Indian airlines in 2023, marking a 39 per cent rise in financial penalties from Rs 1.97 crore in 2022. The Directorate General of Civil Aviation (DGCA) said it imposed fines on domestic carriers such as Air India, IndiGo, AirAsia India and SpiceJet for issues related to non-compliance in 2023. The regulator also carried out a record number of 5,745 surveillance activities in the year to ensure compliance by airlines, aerodrome operators, and aviation personnel among others.
Will build on its existing strengths. Plans to include more fuel-efficient A-320 N and offer better connectivity.
The EGM would discuss deleting various Articles pertaining to transfer and acquisition of the company's shares, including 'Right of First Refusal' and ' Tag Along Right', in the company's Articles of Association.
The passengers were offloaded and the aircraft was moved to an isolation bay for further inspection, airport sources said.
This is the biggest IPO in the Indian market since Bharti Infratel's over Rs 4,000 crore public offer in December 2012.
