Major domestic airlines on Wednesday said they were considering imposing a fuel surcharge and hiking air fares following the announcement of a Rs 1,600/kl rise in jet fuel prices from midnight on Wednesday.
Airline now financially more stable but still in the doldrums as the operating environment remains tough.
Naresh Goyal becomes the country's first airline promoter to receive foreign investment.
RPI-A chief Ramdas Athawale was on Tuesday allegedly not allowed to board a Jet Airways aircraft.
'There will be no flying unless the company pays us substantial salaries and provides a road map,' the National Aviators Guild, the pilots union, said in a message to its members.
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.
Though a formal purchase agreement with Boeing is yet to be signed, SpiceJet's order size could be of 40-50 planes, a source familiar with the development said. At list price, a 737 Max aircraft is valued at about $100 million (Rs 620 crore).
The airlines is in talks with Oman Air and Etihad.
India's latest airline will now fly in a swirl of blue. Four months after being taken over by Jet, the erstwhile Air Sahara in its new avatar as JetLite is already showing signs of perking up while readying its new livery.
Jet Airways Chairman Naresh Goyal on Wednesday said that he would have no option but to follow 'the law of the land' if an action had to be taken against the agitating pilots, while appealing to them to resolve the matter amicably and return to work. Meanwhile, Goyal met Civil Aviation Minister Praful Patel in the wake of the agitation by the airline pilots.
A slowdown in international passenger traffic has forced Jet Airways to cancel two flights on the Mumbai-Shanghai-San Francisco route. The airline pulled out flights operating on Tuesdays and Wednesdays, citing a dip in load factors. Incidentally, the decision has been taken barely a week before Jet launches its Dubai operations on August 23.
The Securities and Exchange Board of India has cleared the initial public offer of Jet Airways.
A senior civil aviation ministry official said this was one of the key issues discussed during Civil Aviation Minister Praful Patel's meeting with Prime Minister Manmohan Singh on Wednesday to ask for a relief on ATF. Top airline executives like Jet Airways Chairman Naresh Goyal and Kingfisher Airlines Chairman Vijay Mallya also met the PM to highlight the issue.
IndiGo declined to comment on the matter
The alliance, announced in a late night press conference on Monday, will involve code-sharing on domestic and international flights, an interline agreement, joint fuel management, common ground-handling services and cross-selling flights through the global ticketing system.
Jet Airways, which is involved in a tussle with its failed takeover target Air Sahara, on Tuesday failed to get respite from an Arbitration panel on its plea for refund of Rs 500 crore (Rs 5 billion) paid as advance.
Jet Airways' pilots won't get much sympathy, but the management hasn't quite covered itself in glory either.
Subsequent to a failed acquisition deal, Air Sahara, on Friday, filed a Rs 3,020 crore (Rs 30.2 billion) claim against Jet Airways for non-completion of the agreement.
Private sector carrier Jet Airways on Tuesday said it has entered into an agreement with the US-based United Airlines for codeshare and frequent flier programme benefits for their customers.
Jet also recently announced plans to launch direct flights to Brussels this summer, launching itself as a direct rival to Air India on flights between India and Europe.
Jet Airways is pushing web sales to increase its revenue and cut distribution costs. The airline is selling 100,000 seats at a discount to drive this strategy.
The agreement between the two airlines came on the second day of the four-day state visit of Mukherjee to the country.
Rival airlines expect Jet Airways to restore some "sanity" in the pricing of tickets after the acquisition of Air Sahara.
On the high costs facing the Indian airline industry, Goyal said the factors included a depreciating rupee against the dollar, escalating jet fuel prices, high taxes and rising infrastructure costs.
Jet had planned to raise $400 million (Rs 2,000 crore) via equity investment through the Qualified Institutions Placements route from Foreign Institutional Investors.
Flight cancellations and subsequent grounding of Jet Airways adversely impacted seat capacity in the domestic market which also resulted in fares going up.
Jet is believed to be in talks with leading private equity players.
Yogvedanta Poddar, in his 20s, was being interrogated at the Netaji Subhas Chandra Bose International Airport police station to ascertain his motives.
Three months after joining the budget carrier JetLite, Finnish CEO Maunu von Lueders plans to quit the organization at a time when its parent Jet Airways intends to merge the back-end operations to cut costs.
Jet Airways, India's largest privately-owned airline, has approached the US Exim Bank and European export credit agencies to reschedule a $2 billion loan (Rs 10,000-crore) loan that was raised to buy 27 Boeing and eight Airbus aircraft.
Improvement in load factors, coupled with an increase in seat capacity after Jet's slots were allotted to low-cost airlines, has resulted in an increase in daily passenger traffic.
Following the market buzz, the stock opened the day on a bullish note and further jumped 6.13 per cent to Rs 590 on the Bombay Stock Exchange.
Rakesh Jhunjhunwala-backed new airline Akasa is in talks with US aerospace company Boeing for buying up to 100 737 Max aircraft. Former Jet Airways CEO Vinay Dube and his family members are promoters while ex-IndiGo president Aditya Ghosh is a board member of the airline. The airline is in negotiation with Boeing and has reached out to the government to recertify the aircraft which has been grounded since 2018 after two crashes killing 349 persons, according to sources in the know.
India's largest private carrier Jet Airways said on Tuesday it expects to more than double its revenues to $3 billion in the next three years. The company on Monday announced its total income rose over 26 per cent to Rs 2,254.17 crore (Rs 22.54 billion) in the second quarter this fiscal from Rs 1,787.33 crore (Rs 17.87 billion) during the same period last fiscal.
The Leader of the Aviation Industry Employees Guild, George Abraham was also present at the meeting. The four pilots sacked by the management will be taken back and resume duties while the Registrar of Trade Unions will take a decision on the status of the National Aviators Guild (NAG) spearheading the stir, according to aviation sources.
In a midair scare, a Guwahati-bound Jet Airways aircraft from Delhi with about 130 passengers and crew on board was on Thursday caught in severe turbulence, which the airline claimed was caused by a passing Boeing 747 jumbo.
SpiceJet announced discounted fares on domestic sector.
