The proposed $400 million rights issue of Naresh Goyal-promoted private airline Jet Airways will hit the capital market by mid-October.
During the January-July period, passenger growth jumped 21.13 per cent to 455.78 lakh.
Both Jet Airways and Go First have met with a similar fate of landing up in insolvency, albeit for different reasons. Whether Go First will be able to avoid the sharp erosion in value like in the case of Jet, experts say, will depend on how quickly it is able to restart operations and retain its slots at airports. Go First, owned by the Wadia group, filed for voluntary corporate insolvency resolution on May 2 due to inadequate capacity utilisation that led to a cash crunch.
Last year, air traffic grew by 9.7%.
Full service product with complementary meal service would be provided on all domestic flights from December 1, with the buy-on-board concept being discontinued, an airline statement said.
A JetLite aircraft with 139 people on board suffered damage to its tail while taking off from Mumbai on Wednesday but managed to land safely at the National Subhash Chandra Bose Airport in Kolkata.No one was injured in the incident described by the airline as a 'tail scrape'. In a statement, JetLite claimed that "at no time was the safety of the passengers and crew compromised" in the incident. The tail of the Kolkata-bound Boeing 737 was damaged while taking off from Mumbai.
The probe agency has found that the company's vast network of sales agents across the globe was not independent of Jet Airways and several of these entities were linked to its founder, Naresh Goyal.
To introduce 'Guest First' programme to attract corporate customers; its market share and load factor lower than rivals
If that happens, Jet Airways will be the first bankrupt airline which will be revived under the Insolvency process.
More than 25 aircraft of Jet Airways has been grounded by lessors due to non-payment of lease rentals. The airline, which started the winter schedule with 103 planes, is now down to 83.
DGCA report shows IndiGo's continued dominance in market share with 30.7%, followed by SpiceJet at 20.9%.
Two associations representing pilots and engineers have written to SBI chairman Rajnish Kumar proposing that they would take over the airline and can bring in up to Rs 7,000 crore.
All Indian carriers flew 60.22 lakh (6.02 million) passengers in May compared to 57.10 lakh (5.71 million) in April, while the January-May figure stood at 267.22 lakh (Rs 2.67 million) as against 260 lakh (2.6 million) in the same period last year recording a 2.78 per cent growth, latest official air traffic data showed.
Jet Airways requires at least 200 more pilots to carry out its operations in a seamless manner
Dubious and personal expenses of Rs 1,000 crore were made from bank-loan funds for Jet Airways founder Naresh Goyal and his family members even as the airline "diverted" money to some tax havens, the Enforcement Directorate (ED) alleged on Saturday, after arresting the businessman in a money-laundering case. Goyal (74) was taken into custody late on Friday night after the central probe agency took him to its Mumbai office from Delhi. A special court set up to deal with cases lodged under the Prevention of Money Laundering Act (PMLA) on Saturday sent him to the ED's custody for 10 days, till September 11.
High airport charges and steep operating cost hurt profitability of Indian airlines in 2013.
With rising costs, Indian carriers would operate 19 per cent less number of flights this winter compared to last year, though no-frill airlines would put in more flights during the busy season starting this month-end.
Low-cost positioning is passe. Brand experts suggest ways in which the airline can differentiate itself in the minds of customers.
Jet Airways on Thursday blamed a steep fall in the rupee, slowdown in the domestic aviation market and rise in fuel costs for a sharp widening in standalone net loss at Rs 891 crore in the July-September quarter.
The IRP has admitted 33 claims from banks worth Rs 8,462 crore, and is verifying Rs 15,044-crore claims from operational creditors and staff.
A total of 406 aircraft are in the fleet of eight scheduled airlines in the country, most of which were suffering losses, Lok Sabha was informed.
Vistara was operating from Delhi, Mumbai, Ahmedabad and Goa.
To add aircraft, more services this year, even as full-service airlines hold their expansion plans.
The government has cleared the acquisition of 46 new aircraft worth over Rs 19,000 crore by three low-cost carriers: SpiceJet, IndiGo and Jet Lite. The new planes will arrive in a staggered delivery schedule beginning November. The acquisitions were cleared on August 30 at a meeting of a civil aviation ministry empowered committee.
Barely a fortnight after it launched international operations and integrated low-cost carrier Simplify Deccan with it, Vijay Mallya-promoted Kingfisher Airlines plans to lay off at least 300 employees, official orders for which are to be conveyed on Monday.
At least 12 flights have been cancelled and four rescheduled at the Mumbai International Airport, due to six-hour runway closure starting on Tuesday.
The government has cleared the acquisition of 46 new aircraft worth over Rs 19,000 crore (Rs 190 billion) by three low-cost carriers: SpiceJet, IndiGo and Jet Lite.
ir India provided facilities such as refreshments, refunds.
Full service carrier Kingfisher Airlines has decided to cut its basic fares up to 60 per cent.This announcement, which will mean around a 20 per cent cut in overall fares, follows competitor Jet Airways.
IndiGo operates 125 flights across 17 destinations with a fleet of 19 brand new Airbus A-320 aircraft. For the full service carrier, Kingfisher, the drop on flights up to 750 km will be Rs 400 to Rs 1,950 from Rs 2,350 earlier. Fares for travelling above 750 km will be down to Rs 2,700 from Rs 3,100.
Some flights of Kingfisher, GoAir, JetLite and Jet Airways operated during the 'curfew hours' from April 4 to April 30 -- from 9 AM to 1 PM and 3 PM till 7 PM--in the past few days when the vital ground navigational aids were switched off for repair and maintenance.
With the Bangalore airport announcing stiff user developmental fee on domestic passengers, low-cost carriers -- JetLite, SpiceJet and Simplifly Deccan (formerly Air Deccan) -- have decided to drastically cut their flight schedules to the city and other new airports like Hyderabad.
With the Bangalore airport announcing stiff user developmental fee on domestic passengers, low-cost carriers JetLite, SpiceJet and Simplifly Deccan (formerly Air Deccan) have decided to drastically cut their flight schedules to the city and other new airports like Hyderabad.
In March this year, domestic air traffic had spiked by 1.6 per cent to 5.18 million passengers, compared to 5.1 million in March 2012.
Jet Airways has also been asked to provide details of the pilots who are "habitual" of reporting sick and disrupting the airline's schedule, an official said.
Confirming the airline industry's estimates of a slowdown in the aviation sector, domestic passenger traffic for the calendar year 2008 showed a decline of 5 per cent compared to the previous year. Also, the Kingfisher-Kingfisher Red combine ousted Jet-JetLite as the largest Indian carrier combine in the month of December 2008.
Kingfisher owes Rs 257.62 crore (Rs 2.57 billion) to the AAI, while Jet Airways Rs 38.49 crore (Rs 384.9 million) and its low cost arm JetLite Rs 13.96 crore (Rs 139.6 million), as on January 31, Civil Aviation Minister and Minister for Overseas Affairs Vayalar Ravi informed the Rajya Sabha on Thursday.
On offer from the beginning of this week, these fares are expected to continue through the rest of the lean season, that is, till the end of September. Customers buying any low-cost carrier ticket on the Mumbai-Delhi route will only have to pay taxes and surcharges that range from Rs 3,400 to Rs 3,600.
Budget carrier IndiGo continued to be the largest player with a market share of 46.9 per cent ferrying 54 lakh passengers in March.
Passengers flying to West Asia can soon see fares going down by 10 to 30 per cent as Indian domestic operators such as Jet, its low-cost carrier (LCC) Jet Lite and Air Deccan are all set to fly to this market.
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