Typically, airlines offer discounts to companies committing a fixed business during the year.
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.
Akasa Air's plane occupancy, or load factor, improved the most among all major carriers in April compared to the last month. Load factor signifies the percentage of seats that the airline has been able to fill in its planes. The Vinay Dube-led carrier, which started commercial flights in August last year, saw its load factor jump by more than 11 per cent in April, according to the Ministry of Civil Aviation's data
Meanwhile, the Directorate General of Civil Aviation has also ordered an engineering audit of the airline after the carrier is said to have found it difficult to provide equipment to operate some flights.
Mid-air Holi celebrations aboard eight flights have cost no-frill carrier SpiceJet heavily.
The task I had undertaken was by no stretch of imagination an easy one, says Ajay Singh.
Only two no-frill carriers, IndiGo and SpiceJet, have applied for permission for more flights from the DGCA this season than they did last year, official sources said, adding that other airlines have scaled down the number of flights they wish to operate this year.
Jet fuel prices are about 33% lower than the same period a year ago.
We are only 9-10 months into the turnaround exercise: Maran
While global majors like JetBlue, RyanAir, Southwest sell almost 90 per cent of their tickets through their own websites or apps, airlines in India have a minuscule share of around 25 per cent through direct channel booking.
After rationalising flights and routes, major domestic airlines like Kingfisher, Jet Airways and SpiceJet are introducing sharp cutbacks in staff and salaries to cope with slower passenger growth and rising aviation turbine fuel costs. Manpower typically accounts for 10-15 per cent of an airline's total costs.
With a contrarian approach to the Indian market, Mills has reconfigured SpiceJet and eked out its first profit in five quarters. His plan is not without risks.
SpiceJet is conducting a strategic review of fleet and network, which could see staff reductions and a possible phase out of Bombardier Q400 planes in three months.
Shares of SpiceJet zoomed almost 20 per cent on Friday on expectations of revival of the distressed air carrier.
Neil Mills explains the rationale behind slashing fare by 50 per cent in a recent offer.
The Indian government allowed foreign airlines to buy up to 49 per cent stakes in Indian carriers in September 2012.
In a bid to cash in on upcoming summer holiday season, low-cost carriers SpiceJet and IndiGo on Tuesday launched the fourth round of price war in the bleeding aviation sector, offering massive discounts on tickets.
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.
Private sector low cost airline SpiceJet has entered into a strategic tie-up with Hindustan Petroleum Corp Ltd to sell air-tickets through the latter's petrol stations.
Royal Airways Ltd on Monday announced the launch of its new low-fares, no frills, brand Spice Jet.
Indian airline SpiceJet Ltd said on Thursday that its billionaire owner, Kalanithi Maran has proposed to transfer majority ownership in the ailing carrier to co-founder Ajay Singh.
The aviation sector is upbeat, with Jet Airways and SpiceJet recording profits in the quarter ended June and foreign institutional investors (FIIs) increasing their stakes in all the three listed carriers Jet Airways, Kingfisher Airlines and SpiceJet.
SpiceJet to add 7 planes; another Rs 500 cr infusion in April.
Civil Aviation minister says that certain regulations restricting the growth in the aviation sector needs to be re-looked to attract investments.
Some airline sources, however, fear it will reduce overall yields
Likely to rake up the issue of open offer exemption.
IndiGo, Vistara, Air India, SpiceJet have cancelled their flights, while GoAir and AirAsia India announced waiving date change/ cancellation fee.
The carrier is implementing a number of measures.
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.
Even if you assume a higher return fare of Rs 40,000, the yield will still be lower than the costs.
Rising crude oil prices and muted passenger traffic in the July-September quarter (second quarter, or Q2) of 2023-24 (FY24) have raised concerns about the profitability of listed aviation players. These two concerns have caused the stock of InterGlobe Aviation (IndiGo), the largest player in the sector, to slip by 11 per cent since its highs at the end of July. Nuvama Research expects yields to cool down in the near term due to seasonality, rising crude oil prices, and higher capacity.
The move comes within days of Indian Railways announcing an increase in fares from January 21.
SpiceJet has cut the size of its fleet to 22-24 Boeing planes from 35 and will keep it this way for few months.
The four 78-seater Q400s would connect Hyderabad with 12 Tier-II and Tier-III destinations.
Airlines are now pushing up fares and hopes to improve margins over the next three months to make up for the poor September quarter, even if it leads to a slight fall in their passenger load factor.
The company's HR now sends flowers and a get well soon card to check in on its employees.
IndiGo's size should be compared with global carriers, and not other domestic airlines, chief executive officer Pieter Elbers said on Tuesday, adding that such benchmarking will help India transform its airports into aviation hubs. Elbers flagged the tendency to scrutinise domestic competition, assess fares on domestic routes, and determine if they are high. "But if we want to build some hubs, we should have a broader look," he said during a panel discussion at a convention organised by All India Management Association (AIMA).
An executive of a private airline said even though volume picked up, it will be difficult for airlines to make money as fares have remained low even during festive season.
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.
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