Asian Games gold-medal winning boxer Dingko Singh has revealed that he went into depression as he was unable to travel to New Delhi for his cancer treatment due to the nationwide lockdown. Dingko Singh was on Saturday airlifted from Imphal to the national capital for his liver cancer treatment.
SpiceJet, IndiGo, Jet Airways, Alliance Air, and Turbo Aviation are among the operators that have bagged the routes in the third round.
However, the reduction in ATF prices will provide some cushion to airlines engaged in a protracted price war have lost control over pricing in one the world's most price sensitive domestic markets.
The order, valued at 'nearly $9 billion at list prices', was signed at Dubai Air Show 2021 on Tuesday.
Some maturity needs to come to the rationalisation of the fares for the sector to succeed.
No other corporate house in India is in a better position than Tata group for the takeover of debt-laden airline Air India, former deputy chairman of erstwhile Planning Commission Montek Singh Ahluwalia said on Thursday. Tata Sons has emerged as the top bidder for the takeover of the state-run airline but the bid is yet to be approved by a group of ministers headed by Home Minister Amit Shah. "You can't have a better corporate, with a better position than the Tatas, we can hand it (state-run airline Air India) over," he said while replying to a question in a virtual event.
Budget carrier Go Airlines, which has rebranded itself as 'Go First', has filed preliminary papers for an initial share sale worth Rs 3,600 crore.
One reason is that airlines have ramped up capacity and expanded their presence in tier-II markets. The first of a three-part series analyses how the aviation industry is an outlier in the midst of an overall economic slowdown.
At the recently concluded Dubai airshow, Akasa, Rakesh Radheyshyam Jhunjhunwala's new airline, signed a $9 billion deal with American aircraft maker Boeing to buy its 737 MAX planes and a $4 billion one for engines with CFM, a joint venture between GE of the US and Safran of France. Unlike his financial doppelganger Warren Buffett, who divested billions from his airline stock portfolio at the start of the pandemic, Jhunjhunwala is wagering his billions in a brand new airline. The legendary investor bought a roughly 40 per cent stake in SNV Aviation in September, Akasa's holding company, started in March by three former Jet Airways colleagues. With aviation still to recover from its pandemic slump, the big question around his foray into domestic aviation, due to take off in summer 2022, is whether it is another pie in the sky.
A consortium of lenders led by State Bank of India (SBI) has agreed to provide loans to Tata Group for the smooth operations of loss-making Air India. Tata Group, which won the bid to acquire the national carrier along with Air India Express and 50 per cent stake in AISATS in October last year, is expected to formally takeover the airline on Thursday. Sources said the SBI-led consortium has agreed to grant both term loans and working capital loans depending on the airline's requirements. All large lenders, including Punjab National Bank, Bank of Baroda, and Union Bank of India, are part of the consortium, they added.
Earlier, budget carrier SpiceJet said it would hire 500 from Jet, including 100 pilots. Air India Express has also inducted around 25 commanders from the grounded airline.
Hit by the third wave of the COVID-19 pandemic and soaring fuel prices, airlines are flying towards record losses with a likely loss of a whopping Rs 20,000 crore for the full fiscal year, warns a report. The airlines are flying towards their steepest-ever net loss of over Rs 20,000 crore this fiscal, which will be 44 per cent more than Rs 13,853 crore they bled last fiscal, Crisil said in a report. This will push back the industry's recovery beyond fiscal 2023, the report based on three large listed airlines--Indigo, Spicejet, and Air India--which together command 75 per cent of the domestic traffic, warned.
The regulator will audit an airport's ground facilities, its turnaround and general safety procedures, and the movement of vehicles. Underground facilities, ground servicing equipment, passenger boarding bridges, condition of the apron, marking and lighting, and availability of foreign object dustbin bins will be checked.
Tata Group's takeover of loss-making national carrier Air India is most likely delayed by a month till January as the completion of procedures taking longer than expected, an official said on Monday. In October, the government accepted the highest bid made by a Tata Sons company for 100 per cent equity shares of Air India and Air India Express along with its 50 per cent stake in ground-handling company AISATS -- the first privatisation in 20 years. At that time, the government had stated that it wanted to complete the transactions, which included Tatas paying Rs 2,700 crore in cash, by December end.
Kamra was banned by India's largest airline for six months on Tuesday for allegedly harassing Goswami on the Mumbai-Lucknow flight. SpiceJet, GoAir and Air India also imposed a similar ban on Kamra without specifying any period.
Budget carrier IndiGo continued to be the largest player with a market share of 46.9 per cent ferrying 54 lakh passengers in March.
Over 50 per cent of all traffic to Jeddah consists pilgrims headed to Mecca and Medina.
Reduction in fuel price was supposed to bring back good luck for Indian airlines. But with the global spread of coronavirus, airlines are being forced to rejig their network, cut flights, and delay launches.
While there is no concrete proposal as of now, possible options include raising funds through securitisation of ticket levy and reduction in number of subsidised seats on routes with higher demand.
For Air India and Jet Airways, airspace closure over Pakistan would mean flights to US and Europe will have to take a longer route.
SpiceJet says tickets in three day sale will be 75 per cent lower than last minute purchase fares.
If that happens, Jet Airways will be the first bankrupt airline which will be revived under the Insolvency process.
In his petition, Kamra said he was banned by IndiGo for a six-month period before its internal committee even arrived at a decision while other airlines -- Air India, Spicejet and GoAir -- imposed an indefinite ban on him.
India's largest public sector bank State Bank of India (SBI) will support Tata group's bid for soon-to-be-privatised Air India by subscribing to Tata Sons debentures or funding the special purpose vehicle (SPV) set up by Tata Sons for the acquisition. Bankers said the credit rating of Tata group's holding company is "AAA" signifying high safety and a combination of Air India with its existing airline businesses would make it a formidable player - leading to a duopoly market with IndiGo. It would also open many business opportunities, including in the retail segment, an official said.
The government has notified the agreement between Air India and special purpose vehicle AIAHL for the transfer of non-core assets, ahead of the national airline's takeover by the Tata Group. The government had in October last year, inked the share purchase agreement with the Tata Group for the sale of national carrier Air India for Rs 18,000 crore. The Tata Group is expected to take full control of the airline, it founded in 1932, on Thursday. The cash component of the deal would come once the handover process is completed. The Tata Group would pay Rs 2,700 crore cash and take over Rs 15,300 crore of the airline's debt.
Air India operates six flights each week, SpiceJet flies on three days to Kabul.
Govt may grant infrastructure status to the aviation industry to enable it to access finances at cheaper rates
Hundreds of pilots are staring at a long wait to get the job of their dreams after completing the course, the cost of which runs to Rs 1 crore.
The man was reissued the ticket and allowed to board the flight once the airline staff at the Jaipur airport realised that he is not the comedian who is on the no-fly list of four airlines, including Air India.
Market estimates suggest the airline has already totted up Rs 1,800 crore of losses in FY20, and FY21 is expected to see losses in the region of Rs 2,500 crore to Rs 3,000 crore Many in the sector say that Vistara lacks the light-footedness of the airlines with which it competes, reports Anjuli Bhargava.
Uttam Ghosh offers his take on the decisions of airlines banning stand-up comedian Kunal Kamra for his alleged heckling television journalist Arnab Goswami aboard a flight on Tuesday.
A total of 17 pilots of Air India, IndiGo and Vistara died due to COVID-19 in May when the country saw the peak of the coronavirus pandemic's second wave, sources said on Thursday.
The company is offering a million tickets at 25% discount, valid for travel between June 15-October 15
The team reached Dubai on Saturday after being held up for over two hours in the flight, of which close to one hour was mid air
Demand for the earlier variant 737NG planes is also expected to pick up due to the grounding of MAX planes.
Three passengers who travelled on Delhi-Jammu flight on Tuesday, six passengers who were on Bengaluru-Coimbatore flight on Wednesday, two passengers who were on Delhi-Coimbatore flight on Wednesday and one passenger who was on Bengaluru-Madurai flight on Wednesday tested positive for the novel coronavirus, the airline said.
The prime minister also visited the Ram Manohar Lohia Hospital in New Delhi after the milestone was achieved and interacted with hospital officials.
Maran challenged reports that he and another company official have been summoned as accused by a Delhi court in two tax evasion cases
SpiceJet had rolled out a scheme offering a discount of Rs 200 to every passenger who books a flight with only one handbag and no check-in baggage.
Anticipating a weak demand in the traditionally lean January-March period, most domestic airlines on Tuesday reduced fares massively after no-frills carrier SpiceJet announced a steep 50 per cent discount on base fares and fuel surcharges across sectors.
