Experts expect a net loss of Rs 26.7 billion for IndiGo and Rs 10.1 billion for SpiceJet in Q1FY21 driven by low traffic volume, low fleet utilisation and poor coverage of fixed costs.
'The combination of star power, compelling storytelling, and action-packed drama promises to set the box office ablaze and kickstart the new quarter on a spectacular high note.'
SpiceJet is the first Indian low fare airline to establish such an arrangement with a foreign airline.
Air India, which operates 72 weekly flights from various cities to Dubai, and IndiGo cancelled their services on Wednesday.
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.
The incident happened on Monday around 11.45 pm when the SpiceJet flight SG6237 flying from Jaipur to Mumbai skid and overshot the main runway.
Despite the gains from Jet's closure, in 2018 and 2019, the airline continued to make losses in many quarters for a variety of reasons, including some mistakes like taking on Jet's aircraft, which were not in great shape and had business class configuration, a gamble that did not work for SpiceJet.
The incident was reported when Pakistan airspace was not closed for India.
Domestic air traffic rose 4.8 per cent on an annual basis to 126.48 lakh in February, while more than 1.55 lakh passengers were affected by flight delays during the same period, according to official data released on Friday. In February, Air India's market share rose to 12.8 per cent from 12.2 per cent while that of IndiGo marginally dipped to 60.1 per cent from 60.2 per cent in January. The domestic air traffic climbed to 126.48 lakh in February compared to 120.69 lakh in the year-ago period, the Directorate General of Civil Aviation (DGCA) said.
DGCA was irked by was a video on social media that showed passengers dancing on board a midair flight. The regulator has summoned the airline officials seeking an explanation.
BBAM seeks $100 million, return of 6 Boeing 737s.
Concerned about the deteriorating financial and operational performance of the Kalanithi Maran-promoted airline, the DGCA had on Friday withdrawn 186 flight slots of SpiceJet and directed it not to take bookings for flights beyond a month.
In March 2020, soon after the cessation of airline operations globally and domestic flights within India, many in the aviation sector had written Delhi-headquartered low-fare airline SpiceJet's obituary well before that of most of its rivals. Unlike IndiGo, GoAir (now rechristened Go First), Vistara and even AirAsia India, SpiceJet did not have founders or backers with deep pockets. Although it is the only other listed carrier in India besides IndiGo, it was considered the weakest and the least likely to survive the pandemic. But chairman and managing director Ajay Singh surprised everyone by not only surviving but taking the lead on many fronts. Within a few weeks of the scheduled flight stoppage, SpiceJet was doing as many charter flights as it could get hold of.
The Bhopal MP was was asked to move to a non-emergency row seat as she was on a wheelchair but she refused, causing the flight to delay of almost 45 minutes. Ultimately, she acquiesced and moved.
The airline had told its pilots on Wednesday that they will not be paid salaries for April and May, adding that those who have been operating cargo flights will get paid for the number of hours flown.
Indigo has zero competition on 61.2 per cent of its 838 domestic routes.
Both the pilots of the flight have been grounded, pending enquiry, the airline said, adding the incident took place around 1630 hrs.
SpiceJet's chief operating officer Sanjiv Kapoor has resigned after two years of service.
Though SpiceJet is likely to resume flights, experts have a doubt on the airline's financial capabilities.
A Mumbai-bound SpiceJet flight from Jaipur carrying 167 passengers and crew overshot the runway at the Mumbai airport Monday night after landing amid heavy rains, blocking it for traffic.
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.
Promoters of SpiceJet do not have funds to bail out the airlines of dire consequences.
Cites technical reasons; crew told to apologies to passengers and provide feedback forms for those seeking a refund for pre-booked meals
After Air India and IndiGo, SpiceJet is the third carrier to cancel the ticket of the Lok Sabha member.
SpiceJet will operate two daily flights using wet leased Twin Otter aircraft from Maldivian Aero. PM Modi is expected to inaugurate and travel on first flight.
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.
There was no loud noise of anything breaking when the rods of a portion of a roof collapsed at the Delhi airport's Terminal-1, Krishna Kumar, a cab driver who was at the site of the incident, said on Friday.
SpiceJet has announced the appointment of Seema Chandra as Chief Financial Officer with effect from July 1.
Low-cost airline SpiceJet on Monday said it has rolled out a special one-way low-fare offer, starting at Rs 826.
SpiceJet, India's second-largest private airline, kicked off the process of hiving off its logistics business to its subsidiary SpiceXpress as it looks to raise much-needed capital. On Tuesday, the company sought its shareholders' approval to complete the process and to raise up to Rs 2,500 crore via a qualified institutions placement (QIP). It is in talks with multiple private equity investors as it tries to sell shares in the logistics arm to raise money.
Before buying Marans' stake, Singh's shareholding stood at 1.85%.
The incident which occurred on August 11, involving SpiceJet Hyderabad flight from Chennai (SG 511) and Emirates' Dubai-bound Brisbane flight (EK 433), is currently being investigated by the aviation regulator, DGCA sources said.
The technician was carrying out maintenance on the landing gear of the Bombardier Q400 plane when the landing door accidentally got closed.
His Rare Enterprises purchased 75 lakh shares worth Rs 13 crore.
A senior government official informed AAI had agreed not to withdraw the credit facility of SpiceJet till Monday.
"Financial bids for Air India disinvestment received by Transaction Adviser. Process now moves to concluding stage," DIPAM Secretary Tuhin Kanta Pandey tweeted.
40 executives in the middle to senior level are set to join the airline from rival IndiGo.
Sources in the government said the roof that collapsed at T1 was constructed during 2008-09 and that the work was contracted out by GMR to private contractors.
The aviation regulator slapped fines amounting to Rs 2.75 crore on Indian airlines in 2023, marking a 39 per cent rise in financial penalties from Rs 1.97 crore in 2022. The Directorate General of Civil Aviation (DGCA) said it imposed fines on domestic carriers such as Air India, IndiGo, AirAsia India and SpiceJet for issues related to non-compliance in 2023. The regulator also carried out a record number of 5,745 surveillance activities in the year to ensure compliance by airlines, aerodrome operators, and aviation personnel among others.
SpiceJet recently posted a loss of over Rs 1,000 crore (Rs 10 billion) for fiscal 2014.
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