Airline stocks have been soaring following a steep decline in crude oil prices and sustained passenger traffic. Analysts have particularly turned bullish on the stocks of InterGlobe Aviation and SpiceJet. On December 20, shares of InterGlobe Aviation (IndiGo) hit a record high of Rs 3,009 on the BSE, having surged 43.24 per cent year-to-date (YTD).
SpiceJet apologised for the inconvenience caused to the passenger and will also provide a full refund. As the passenger kept waiting in the lavatory, a cabin crew slipped in a note asking the passenger not to panic and that despite trying their best, the door could not be opened.
Over the past month, SpiceJet has been hit by a spate of bad news. As the airline's losses mount and troubles pile up, analysts worry about its prospects.
SpiceJet had bet its fortunes heavily on the new version of the 737 of which it has 13 planes in its fleet and another 193 aircraft on order
SpiceJet announced discounted fares on domestic sector.
Though SpiceJet is likely to resume flights, experts have a doubt on the airline's financial capabilities.
On May 1, SpiceJet's Mumbai-Durgapur flight encountered severe turbulence during its descent phase, injuring 14 passengers and three cabin crew members.
An alternate aircraft of Indian budget carrier SpiceJet flew to Dubai from Karachi's Jinnah International Airport on Tuesday night, ending a wait of nearly 11 hours for 138 passengers who got stranded there after taking off from New Delhi in the morning.
Passi was suspended from her job from March 16 this year.
Customs officials at Mumbai's Chhatrapati Shivaji Maharaj International Airport seized electronic items, cosmetics, cigarettes, and crude gold worth over Rs 1.79 crore from passengers arriving from Dubai, leading to one arrest.
Cites technical reasons; crew told to apologies to passengers and provide feedback forms for those seeking a refund for pre-booked meals
Promoters of SpiceJet do not have funds to bail out the airlines of dire consequences.
Confirming the resignation of Aggarwal, airline sources said Kishore Gupta, a member of the SpiceJet board, is likely to take over the position for the time being as part of an interim arrangement.
SpiceJet's chief operating officer Sanjiv Kapoor has resigned after two years of service.
SpiceJet will now be 'doubly careful' and strengthen inspection of aircraft before they leave to operate flights, airline's Chairman and Managing Director Ajay Singh said on Wednesday.
The Directorate General of Civil Aviation has been asked to open up bookings of SpiceJet till March 31, 2015, while airport operators have been asked to provide 15 days to the airline company for making payments.
On a full year basis, the airline made a loss of Rs 934.8 crore. The company has incurred a net loss during the current and previous year and, the its current liabilities exceeded its current assets
Low cost airline SpiceJet and Swiss firm Credit Suisse AG on Thursday told the Supreme Court they have resolved their financial dispute. The apex court then permitted SpiceJet to withdraw its appeal against a Madras high court verdict ordering that the airline be wound up on account of alleged non-payment of dues to Credit Suisse AG. "There is a settlement which has taken place on May 23, 2022 as per the consent terms.
Indian aviation regulator DGCA has barred 90 SpiceJet pilots from operating the Boeing 737 Max aircraft after finding them not properly trained. "For the moment, we have barred these pilots from flying the Max and they have to retrain successfully for flying the aircraft," DGCA chief Arun Kumar said in a statement. He also said that the regulator will take "strict action against those found responsible for the lapse."
IndiGo continues to fly high as the top airline in India while crisis-hit SpiceJet has some good news.
SpiceJet said its freighter aircraft, which was heading to Chongqing in China, returned to Kolkata on Tuesday as the pilots realised after take off that its weather radar was not working.
SpiceJet recently posted a loss of over Rs 1,000 crore (Rs 10 billion) for fiscal 2014.
SpiceJet will induct more Boeing 737 Max aircraft over the next few months and it hopes to start broadband internet service on its planes soon, its chairman and managing director (CMD) Ajay Singh said on Monday. The airline has a fleet of 91 aircraft, out of which 13 are Max planes and 46 are older versions of Boeing 737 aircraft, according to its website. In his email to employees on the 17th anniversary of the airline, Singh said the carrier continues to fly with the highest loads month after month and expects to soar even higher in the coming months.
SpiceJet has failed to 'establish safe, efficient and reliable air services' under the terms of Rule 134 and Schedule XI of the Aircraft Rules, 1937, the notice issued by the DGCA stated.
The pilots of India's budget carrier SpiceJet would now be trained by flight training establishment of the Dubai carrier, Emirates.
Temasek Holdings Pte Ltd., the Singapore government's investment company, said it would not invest in SpiceJet Ltd., an Indian low-fare carrier that started flying in May, because of a disagreement on terms.
Airlines experienced check-in problems at various airports due to a software issue that lasted over 40 minutes, impacting IndiGo, Air India Express, SpiceJet, and Akasa Air.
Before buying Marans' stake, Singh's shareholding stood at 1.85%.
The Supreme Court has appointed its former judge P V Reddi to mediate the dispute between SpiceJet and its former promoter Kalinithi Maran, the airline said on Wednesday. The dispute dates back to 2015, when Maran sold his stake in SpiceJet of 58.46 per cent, or 50.4 million shares, to Ajay Singh for Rs 2 after the airline suffered financial trouble. A year later, Maran approached the Delhi high court, alleging a breach of agreement by Singh for not issuing him 189 million share warrants and preference shares despite Maran's Rs 679-crore infusion.
A senior government official informed AAI had agreed not to withdraw the credit facility of SpiceJet till Monday.
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.
The Madras high court has ordered the winding up of private carrier SpiceJet Limited and directed the official Liquidator attached to the high court to take over its assets, in a plea filed by a Swiss company over unpaid dues. The court was allowing a company petition from Credit Suisse AG, a stock corporation registered under the laws of Switzerland, which prayed for winding up of the Indian firm under the provisions of the Companies Act, 1956 and appoint the Official Liquidator of the high court as the liquidator with all powers under Section 448 of the Companies Act to take charge of SpiceJet's assets, properties, stock in trade and books of accounts. The "respondent company (SpiceJet) has miserably failed to satisfy the three pronged test suggested by the Supreme Court in Mathusudan Govardhandas & Co v Madhu Woollen Industries (P) Ltd, and hence had rendered itself liable to be wound up for its inability to pay its debts under Section 433 (e) of the Companies Act 1956," Justice R Subramanian said in his order on Monday and directed the private carrier be wound up and the official liquidator take over its assets.
Carrier in denial, even as Paramount looks for a buy.
The fairy tale turnaround story has, however, taken a few knocks after a second wave of the pandemic has brought a series of default notices and has posed the toughest test for the 55-year old Singh to save the airline he founded and sold to the Marans only to assume control later.
India's aviation sector is facing fresh turbulence, with rising fuel costs, the Ministry of Civil Aviation's free-seat directive, and geopolitical disruptions in West Asia clouding near-term earnings visibility.
Low-cost airline SpiceJet on Monday said it has rolled out a special one-way low-fare offer, starting at Rs 826.
Boroscopic inspection of all operational engines of all Q400 engines within one week, immediate inspection of Magnetic Chip Detectors (MCD), drawing of engine oil samples every 15 days for analysis and inspection of bleed-off valve screen and housing for evidence of oil wetness in weekly check, are among the other directions.
Stating that the road ahead for SpiceJet is "pretty tough", its original founder and new owner Ajay Singh on Thursday said he is in talks with more than one investor for fund infusion into the carrier.
Budget carrier SpiceJet has accepted the resignation of its chief Executive Niel Raymond Mills, 18 months before his service contract was to expire.
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