The fresh equity infusion comes at a time its rival Kingfisher Airline is struggling to be air-borne due to a severe cash-crunch.
In the absence of a chief executive officer, Delhi-based low-cost carrier SpiceJet has decided to set up a three-member management committee to take all company decisions, especially in the light of the recently-signed agreement with US-based investor Wilbur Ross.
Media magnate Kalanithi Maran is close to buying about 37 per cent equity in low cost carrier Spicejet at an estimated Rs 45 a share that would cost him about Rs 700 crore (Rs 7 billion).
Last week, after a direction from ministry, airlines provided the maximum fares they would charge based on distance travelled.
Three months after Sanjay Aggarwal resigned as chief executive officer (CEO) of SpiceJet, the airline announced the appointment of Neil Raymond Mills as the CEO.
India's domestic air passenger traffic nearly doubled to 1.25 crore in January compared to 64.08 lakh recorded in the year-ago period, according to official data released on Monday. In January, IndiGo saw its domestic market share decline for the fifth consecutive month at 54.6 per cent. It carried 68.47 lakh passengers last month.
Low-cost carrier IndiGo has asked American aerospace manufacturer Pratt & Whitney (PW) to quickly provide engines for the airline to press its grounded planes back into service, sources said on Wednesday. The airline wants to increase its domestic frequency to fill the supply-side void created after Go First's exit, they added. Go First stopped operating flights from May 3 after filing an insolvency application with the National Company Law Tribunal.
Last week, AirAsia launched a daily Airbus A-330 flight from Delhi to Kuala Lumpur at a basic fare of, hold your breadth, just Re 1 for two days.
Low-cost carrier Simplifly Deccan will now deliver tickets directly at the doorstep of passengers to boost its reach. Deccan on Wednesday announced its latest service/distribution initiative in association with Express IT, a customer management logistics provider, to deliver tickets to its passengers.
Thanks to the Internet, booking a hotel room is so much more trouble-free.
The company held about $12 million worth of FCCBs in SpiceJet. Bank of America-Merill Lynch brokered the block deal for the company, said sources.
This limited-period promotional offer of the Malaysian low-cost carrier AirAsia is valid for booking on only two days from tomorrow.
UAE-based low-cost carrier Air Arabia will launch its flights to Bangalore on October 15, its ninth destination in India. The flights will initially operate four times every week between Bangalore and Air Arabia's hub in Sharjah, and daily from October 29.
Delhi-based low-cost carrier SpiceJet is looking at restructuring its core leadership team as part of US investor Wilbur Ross's strategy of turning around the company.
For the peak summer season, starting May, the airline is offering fares that are up to 15 per cent less than what low-cost carriers are quoting.
Low cost carrier SpiceJet on Monday announced the appointment of Sanjay Aggarwal as its chief executive officer. Prior to this, Aggarwal was working with private air travel services provider Flight Options as chief operating officer and chief strategy officer, a company statement said.
Simplifly Deccan, the low-cost carrier (LCC) brand formed after the merger of full service airline Kingfisher and the LCC Air Deccan, may soon cease to exist.
Shareholders of Spicejet including Royal Holding Services Ltd, Istithmar and Ajay Singh and Goldman Sachs, in capacity as a bondholder of the company, on Monday entered into definitive agreements with WL Ross & Co to this effect, Spicejet said in a filing to the Bombay Stock Exchange.
There is good news for Malaysian travellers, as the low-cost carrier AirAsia is giving away a million free seats to more than 70 destinations in China, India, Taiwan, Indonesia and Thailand.
India's pioneer of low-cost carriers GR Gopinath is in talks with Cochin International Airport Limited, India's first privately operated airport, to set up a joint venture for dedicated cargo facilities across the country.
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.
Kingfisher and Deccan swap of shares will be finalised by April, upon Sebi's approval.
The first signs of the move will be evident when both the airlines announce their summer schedules in March after receiving the approval of the Directorate General of Civil Aviation. Deccan is likely to bring down and withdraw frequencies between Mumbai-Delhi in the schedule.
Low-cost carrier SpiceJet on Friday announced the launch of its Delhi-Kolkata daily service from November 6 with a new Boeing 737-800 aircraft at substantially low fares.
After initiating ticket bookings through SMS, low-cost carrier Air Deccan on Saturday announced the opening of bookings for one lakh tickets at Rs 999, inclusive of taxes, for travel between February 20 and April 10.\n
Air Deccan, which was forced to sell 26 per cent to Kingfisher Airlines chairman Vijay Mallya's UB Holdings to keep its head above water a few months ago, is likely to break even before Kingfisher.
Low-cost carrier SpiceJet has raised about Rs 100 crore (Rs 1 billion) by allotting 4.29 crore shares to promoter Kalanithi Maran at a price of Rs 23.18 per share.
West Asian carriers are up against Air India and IndiGo in the battle for seats on lucrative international routes.
The downturn in the aviation sector has led to significantly lower demand for pilots. This has adversely affected the businesses of more than 50 flying training schools, which had come up during the last two years on the back of an unprecedented growth story. Admissions to these institutes have now hit an all-time low.
As part of its efforts to find new foreign and domestic tourist markets, the Kerala government has asked the Centre to sanction direct flights to major international tourism centres and allow more low cost carriers in the domestic circuit.
India's affluent middle class is rekindling its affair with long-distance train travel, as sharp jumps in domestic airline ticket prices push many former frequent fliers back to the railways.
The exclusivity clause for closing the deal between private equity investor WL Ross and SpiceJet that ended on July 31 has been extended because the US-based company is re-negotiating with creditors to write down their debt with the low-cost carrier.
Air Sahara on Monday said it is in talks with upcoming low-cost carrier Indus Air, promoted by Kapil Mohan of Mohan Meakins Group.
AirAsia says deal not violative of shareholder agreement.
Kingfisher will be permitted to fly abroad this year, following its acquisition of Air Deccan. Since Air Deccan will be eligible for the international arena this August, Kingfisher too will enjoy this right.
Low-cost carrier SpiceJet on Friday said it has launched a 'Home Away Insurance' for all its customers in collaboration with insurance firm Tata AIG.
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