JP Morgan may buy stake in debt -laden SpiceJet
Indian carriers transported 12.8 million domestic passengers in March 2023, a year-on-year growth of 21.41 per cent. India's largest carrier IndiGo shored up its domestic market share from 53.8 per cent in Q4 of FY22 to 55.7 per cent in Q4 of FY23, according to the Directorate General of Civil Aviation (DGCA) data released on Monday.
The four 78-seater Q400s would connect Hyderabad with 12 Tier-II and Tier-III destinations.
Boeing 737 MAX planes were globally grounded in March 2019, after two of these crashed within five months, raising safety concerns.
The Q400 NextGen turboprop aircraft from Bombardier can seat 78 passengers and has low noise and vibration-free features.
Vijay Mallya-owned private air-carrier, Kingfisher Airlines is in talks with a top former executive of the budget airline, SpiceJet to take him onboard and a final decision on the issue is expected shotly, sources said.
With the earlier order for 55 planes and additional 100 new 737-8 MAX aircraft, the no-frills carrier now has firmed up the order for a total of 155 planes, besides purchase rights for 50 B737-8 MAX and wide body aircraft.
SpiceJet, the low-cost air carrier, on Thursday got its shareholders' approval to issue additional equity shares to promoter Kalanithi Maran, who in turn will infuse Rs 130 crore (Rs 1.3 billion) into the airline. Maran's equity holding would go up from 38 per cent to 43 per cent of the company's shares.
Sources privy to the development said Maran was being asked to take care of a part of the liabilities.
The Forbes magazine had adjudged Maran as the 38th richest man in India, with a net worth of $2.3 billion (as of September).
The first flight with over 150 passengers from Chennai landed here this morning as the 'cultural capital' was included in the list of one of the major low-cost airliners in India.
The sources indicated that the AAI, which had given time to SpiceJet till Monday to clear its dues, would not press the deadline and give the airline more time to pay up.
Despite a bleak operating environment, Jet Airways and SpiceJet have flown into the black. The turnaround may have more to do with their embattled rivals than anything else.
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.
Board has also accepted the resignations of Marans.
HC asks DGCA not to de-register SpiceJet planes till April 6.
SpiceJet urges HC to direct DGCA not to deregister its planes.
Oil firms will supply fuel to SpiceJet on 'cash and carry basis'.
Chief Operating Officer, Sanjiv Kapoor will be leaving the company effective October 31, 2015 after two years with the organisation.
The airline re-built the flight schedule and refunded passengers.
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.
It is imperative that the government first decides who should assume ownership of running Air India.
Spice Jet to start a series of daily flights from Coimbatore to Delhi, Mumbai and Hyderabad, will lauch services to Port Blair, Pune in October.
Beleaguered no-frills carrier SpiceJet on Monday approached the government for financial aid.
Domestic low-cost carrier SpiceJet on Friday said it may start flights to overseas destinations with the relaxation of civil aviation policy for new carriers to fly abroad.
Seaplanes are fixed-wing aircraft that can take off and land on both water and airfields.
The airlines were penalised for 'concerted action in fixing and revising Fuel Surcharge (FSC) for transporting cargo.'
No frills airlines SpiceJet and IndiGo have merged fuel surcharge with the base fares, saying it would simplify the prevailing fare structure.
Stocks of SpiceJet on Friday surged nearly 10 per cent after the company returned to original promoter Ajay Singh for its revival in a multi-layered deal worth up to Rs 1,500 crore (Rs 15 billion).
No frills carrier SpiceJet on Monday cut down base fare for its evening flights to Kathmandu to Re 1 for two days starting on Monday.
Ajay Singh would infuse Rs 1,500 cr in SpiceJet.
Low-cost carrier SpiceJet on Tuesday said it is likely to break even in April-June.
The official said that the licences of the two pilots -- Ajinkya Hanchate and Tushar Dasgupta -- have been suspended for one year and they also have to undergo corrective training.
The BSE Smallcap index hit an over eight-month low of 47,627.96, falling 3 per cent in Tuesday's intraday trade amid selling pressure due to ongoing tariff-related concerns and rising geopolitical tensions.
Shares of SpiceJet surged over 17 per cent on Monday after ace investor Rakesh Jhunjhunwala's Rare Enterprises picked up 75 lakh shares of the company for more than Rs 13 crore (Rs 130 million) through open market.
SpiceJet is having tough times due to a huge financial crunch.
The move comes within days of Indian Railways announcing an increase in fares from January 21.
The airline has promised refunds within 10 days, but there is a rush
SpiceJet strts trimming workforce.
SpiceJet is in talks with aircraft makers for a jet deal.
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