Private equity majors interested in buyouts have started initial discussions with promoter Vijay Mallya.
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.
"The strategic divestment transaction of Air India successfully concluded today with transfer of 100 per cent shares of Air India to M/s Talace Pvt Ltd along with management control," DIPAM secretary Tuhin Kanta Pandey said in a tweet. A new board, led by the strategic partner, takes charge of Air India, he added.
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.
Typically, airlines offer discounts to companies committing a fixed business during the year.
Among the impacted flights, Air India's flight AI 185 from the national capital to Vancouver that was to depart early in the morning was rescheduled.
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.
The task I had undertaken was by no stretch of imagination an easy one, says Ajay Singh.
Mid-air Holi celebrations aboard eight flights have cost no-frill carrier SpiceJet heavily.
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.
Neil Mills explains the rationale behind slashing fare by 50 per cent in a recent offer.
Shares of SpiceJet zoomed almost 20 per cent on Friday on expectations of revival of the distressed air carrier.
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.
The Indian government allowed foreign airlines to buy up to 49 per cent stakes in Indian carriers in September 2012.
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.
Royal Airways Ltd on Monday announced the launch of its new low-fares, no frills, brand Spice Jet.
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.
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.
An average Indian couple spends around 2x on weddings versus education (pre-primary to graduation).
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
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
Likely to rake up the issue of open offer exemption.
The carrier is implementing a number of measures.
Even if you assume a higher return fare of Rs 40,000, the yield will still be lower than the costs.
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.
The move comes within days of Indian Railways announcing an increase in fares from January 21.
IndiGo, Vistara, Air India, SpiceJet have cancelled their flights, while GoAir and AirAsia India announced waiving date change/ cancellation fee.
The four 78-seater Q400s would connect Hyderabad with 12 Tier-II and Tier-III destinations.
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 company's HR now sends flowers and a get well soon card to check in on its employees.
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