Strong passenger growth will help domestic airlines improve their top line and margins.
Low-cost air carrier SpiceJet is looking at ways to raise around $75 million (Rs 335 crore). The airline has given the mandate to IDFC-SSKI for raising funds through preferential allotment of shares and strategic sale. "IDFC-SSKI is working on it and the money will be raised through both preferential allotment of shares and strategic sale," said a Mumbai-based investment banker, who is associated in this deal.
The government on Tuesday said the major private domestic airlines owed over Rs 274 crore (Rs 2.74 billion) to the Airports Authority of India for availing its services.
Domestic budget carriers SpiceJet, Indigo and GoAir have rolled out another sale offer with fares starting from Rs 1,699 for a limited period on domestic routes.
Move aims to comply with Sebi's norm
Green light likely for services on underserved routes between regular airports
Fuel costs, interest and lease rentals increased but an increase in other income (Rs 11 crore) and non-operating income (Rs 28 crore) helped the airline to boost revenue and contain losses.
Aviation regulator DGCA is likely to take a call shortly on allowing domestic airlines to charge for check-in baggage while providing incentives for passengers who travel light.
Web designer Anvit Solomon Hembrom was arrested in New Delhi by sleuths from the cyber crime cell of Kolkata Police on charge of cheating, Deputy Commissioner of Police (Detective Department) Gyanwant Singh said in Kolkata on Friday.
Vistara, an airline in which Tata Sons owns 51 per cent stake, is one of those which wants a relaxation in rules, saying these are important for the country's economic growth.
At present, there is no direct air connectivity between India and Myanmar.
No-frill carrier SpiceJet has begun an enquiry into an incident in which a differently-abled woman was off-loaded from its Kolkata-Mumbai flight on Sunday after the crew claimed it was not safe to have her on board. The airline, expressing regret at the incident, said, "We are investigating the matter internally and action will be taken". Jeeja Ghosh, a 42-year-old teacher at Kolkata's Indian Institute of Cerebral Palsy, was offloaded after she had boarded the flight.
Budget carriers like Air Deccan, SpiceJet, IndiGo and GoAir are making key appointments, especially in the positions of chief finance officer, chief executive officer, while some airline executives are on their way out.
IndiGo was set up in 2006 by businessman Rahul Bhatia and Rakesh Gangwal, a former CEO for US Airways Group.
Travel portals are losing serious business, as customers book tickets with the airlines directly. To survive the trend, travels portals are reworking their business strategy.
Civil Aviation Minister Jyotiraditya Scindia on Tuesday flew on SpiceJet's special flight between Delhi and Gwalior using Boeing's 737 Max plane that has been allowed to return to service after two and half years. All Max planes were grounded in India by the Directorate General of Civil Aviation (DGCA) on March 13, 2019, three days after the crash of an Ethiopian Airlines 737 Max plane near Addis Ababa, which had left 157 people, including four Indians, dead. Along with Scindia, SpiceJet CMD Ajay Singh and Boeing India president Salil Gupte were also present on the special flight on Tuesday.
Currency depreciation also hits earnings of all domestic carriers
Except GoAir, all other Indian airlines have opened bookings for their domestic flights that will start operating from May 25. GoAir will open bookings on domestic flights from June 1 onwards.
At a meeting with airline chief executive officers and top officials here, the Civil Aviation Ministry also decided to amend Aircraft Act and Rules to safeguard the interests of aircraft leasing companies, many of which have started imposing stringent conditions for leasing planes to Indian carriers in the aftermath of Kingfisher Airlines shutting down.
Crisis-hit Go First has sought various interim directions from the National Company Law Tribunal, including restraining lessors from taking back aircraft and regulator DGCA from taking any adverse action against the airline. The Wadia group-owned airline, which has liabilities worth Rs 11,463 crore, has sought voluntary insolvency resolution proceedings and the plea is set to be heard by the Delhi bench of the NCLT on Thursday. Go First has cancelled all its flights for three days starting from May 3.
High fuel prices are not only taking a toll on airline companies' balance sheets, but also forcing them to innovate to cut costs.
The move comes when Kingfisher remains the only listed airline in India to have made losses in the third quarter of the current financial year.
We have cleared all dues to our employees, says Ajay Singh
SpiceJet, on the verge of a shutdown two years ago, is now looking at joining a burgeoning global league of low-cost long-haul airlines by providing a Rs 30,000 to-and-fro fare to western European destinations. Chairman and managing director Ajay Singh elaborates.
Expected to end four years of administrative turmoil in Indian boxing, the Boxing Federation of India (BFI) was elected to office with businessman Ajay Singh winning the Presidential poll by an overwhelming margin.
Board has also accepted the resignations of Marans.
After Air India and Jet slashed ticket prices, low-cost carriers respond with 5-20 per cent cuts; likely to spur air travel market's sluggish growth.
The complaint was lodged by Mumbai-based Express Industry Council of India, which represented major express courier and cargo companies such as DTDC, Aramex India, Blue Dart, DHL Express, GATI and First Flight.
Some years ago, Rakesh Gangwal reportedly said his relationship with Rahul Bhatia evolved in an amazing friendship, which he termed 'blind trust'. The question is whether that is under scrutiny now.
IndiGo had last week offloaded 70 passengers from a Raipur -bound flight from Hyderabad alleging "unruly behaviour".
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.
The government on Friday said it has penalised Kingfisher Airlines with a fine of over Rs 26 crore (Rs 260 million) for delay in the payment of tax deduction at source (TDS).
With fewer passengers airlines bracing for a rise in operating costs due to a spike in crude prices
The Indian aviation sector is on the cusp of a change as airlines look to induct a record number of aircraft. This, analysts said, will put the sector on a growth runway, though keeping it viable for only long-term investors. According to Vinit Bolinjkar, head of research at Ventura Securities, expectations of strong air traffic, coupled with low penetration, is the prime reason for a solid long-term outlook.
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.
About 350 Boeing 737 Max 8 are currently in service with airlines around the world, with thousands more on order. Boeing insists it has no reason to pull the popular aircraft from the skies.
After being hit by a fuel price hike and capacity cut, it may be happy times again for the airline industry this festive season. While Kingfisher is looking at adding at least 15 new flights in the winter season, competitors Jet Airways, SpiceJet, IndiGo and Paramount are adding over 30 new flights together (arrivals and departures); they will do this through a combination of better utilisation of existing aircraft and inducting new fleet.
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