A Jet Airways Boeing 737 with 89 passengers on Thursday had a miraculous escape after it was involved in a near-collision with a formation of Sukhoi-30 Air Force fighter jets over the airport in Rajkot.
No-frills carrier Go First filing for insolvency proceedings and cancelling flights is bad for the airline industry as the move will reduce capacity and could push airfares in certain routes, travel agents' grouping TAAI said on Wednesday.
Jet Airways has clocked a net profit of Rs 53 crore (Rs 530 million) in the fourth quarter of 2008-09.The private air carrier had posted a loss of Rs 221 crore (Rs 2.21 billion) in the year-ago period.
If that happens, Jet Airways will be the first bankrupt airline which will be revived under the Insolvency process.
The Supreme Court on Tuesday said it would consider a joint request for mediation of low-cost airline SpiceJet and media baron Kalanithi Maran and his Kal Airways for amicably settling all pending disputes between them including the row over the share-transfer issue. A bench comprising Chief Justice N V Ramana and Justices J K Maheshwari and Hima Kohli was apprised by senior advocate Mukul Rohatgi, appearing for SpiceJet, that there were three pending issues between the low-cost airline and Maran and out of these, one has been settled on July 29. Initially, Rohatgi sought four to six week time for settling all the issues between the parties.
Jet Airways offers a huge packages toward arrears to pilots.
India's largest private carrier Jet Airways will report a full-year loss for 2007-08 fiscal and break even only in the financial year ending next March, said its chairman Naresh Goyal. Earlier in January, Jet Airways had reported a net loss of Rs 91.12 crore (Rs 911 million) for the quarter ended December 31, 2007 as against net profit of Rs 40.04 crore (Rs 400 million) for the year-ago period. Goyal expects Jet Airways to break even in the current fiscal, ending Mar 31, 09.
The former Congress chief was scheduled to visit Prayagraj for a function at the Kamla Nehru Memorial Hospital on Tuesday, Rai said.
A video clip of the scuffle inside the aircraft was shared widely on social media on Wednesday. In the clip, a man could be seen being slapped multiple times by a few co-passengers.
A Qatar Airways Delhi-Doha passenger plane was diverted to Karachi on Monday after it declared an emergency due to indication of smoke in the cargo hold, the airline said.
The National Company Law Appellate Tribunal (NCLAT) on Monday dismissed the petition filed by an employee association of debt-ridden Jet Airways, challenging the sale of two floors of office space in Mumbai's business district of Bandra Kurla during the insolvency process of the grounded carrier. Jet Aircraft Maintenance Engineers Welfare Association (JAMEWA had challenged the orders passed by the Mumbai bench of the National Company Law Tribunal (NCLT) on June 11, 2021, allowing the sale of the office space for Rs 490 crore. The association had contended that the sale of BKC property, was not permissible under the Insolvency & Bankruptcy Code (IBC) as a moratorium was declared over the assets of the company after an order dated June 20, 2019.
The commission took into account the complainant's actual losses and said the sum of pounds 150 the international carrier had paid him for denying him boarding was not enough.
Government sources said the airline is already considering the proposal and negotiations are likely to begin soon.
Increasing cases of aviators in India complaining of fatigue and in some cases leading to death have spurred the DGCA to bring in draft rules to reduce stress.
The accused made the call so that his childhood friends could spend more time with their girlfriends, who were going to Pune, at the Delhi airport, the police said.
Wadia Group-owned Go First Airways' (Go First) insolvency plea could trigger a 'momentum rally' in shares of rival airlines, Interglobe Aviation (parent company of IndiGo) and SpiceJet, as they look to gain bankrupt airline's market share, said analysts. On the bourses, shares of InterGlobe Aviation hit a 52-week high of Rs 2,235.95, surging 8 per cent on the BSE in Wednesday's intra-day trade, before settling 4.5 per cent higher at Rs 2,164 apiece. Those of SpiceJet and Jet Airways, meanwhile, rallied up to 6 per cent in the intra-day trade, and ended 1 per cent and 5 per cent higher, respectively, following the development, which was announced post market hours on Tuesday.
The fares are valid for only 20 days starting Friday. The total fare, after adding taxes and surcharges, would come close to above Rs 30,000. Meanwhile, full-service carrier Jet Airways increased its London special return base fares from Rs 9,900 to Rs 11,900. Travel industry sources said airlines like Virgin Atlantic were expected to follow BA and go for a reduction in fares.
'I hope they all survive, but it is a tough world.' 'The carriers who are already established are already struggling.'
The story of Sahara India Pariwar founder Subrata Roy, who died in Mumbai on November 14 aged 75, is the stuff of movies - of a spectacular rise and an equally spectacular fall. Born in Araria, Bihar, Roy was 30 when he set up Sahara in 1978. He started with a capital of about Rs 2,000, a peon, a clerk and his father's Lambretta scooter in Gorakhpur, eastern Uttar Pradesh, writes Tamal Bandyopadhyay in his 2014 book, Sahara: The Untold Story. Sahara was not his first venture.
The child's mom continued to sob and pray. The Vistara staff was valiantly standing by offering as much assistance as they were capable of.
The airline notification to an exchange does not name the shareholder. It said the fund-raising would be subject to regulatory and corporate approvals.
Oral paracetamol and another cough medicine manufactured by companies based in Mumbai and Punjab were found to be "sub-standard or found to be containing toxins", reports Sohini Das.
The sources said that during the boarding, the male passenger behaved in an unruly manner and touched the female cabin crew member inappropriately.
The inactivity of Go First may help other airlines in India's competitive market as it had a 7.8 per cent market share.
West Asian carriers are up against Air India and IndiGo in the battle for seats on lucrative international routes.
The country's largest private air carrier Jet Airways today posted a net loss of Rs 101.22 crore (Rs 1.01 billion) for the third quarter of 2011-12 on account of rising prices of aviation turbine fuel and rupee depreciation.
The National Company Law Tribunal (NCLT) on Thursday reserved its order on crisis-hit airline Go First's plea seeking voluntary insolvency resolution proceedings and interim moratorium on financial obligations while aircraft lessors vehemently opposed the petition. Amid the airline facing severe financial crunch and cancelling flights, a two-member NCLT bench comprising Justice Ramalingam Sudhakar and Member L N Gupta heard the arguments for and against the petition for nearly four hours. As aircraft lessors opposed the plea, the counsels for Go First said the petition was not a malicious one to avoid payment of dues to its creditors but to save the company.
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.
Sanjive Narain, owner of Assam's oldest news channel, and Sanjay Aditya Singh, promoter of a cabin crew training academy, are coming together to launch a regional airline providing business and premium economy services in the Northeast. Jettwings Airways will be based in Guwahati and will connect places with twin-class Embraer E175 aircraft. The airline has secured an initial no-objection clearance from the civil aviation ministry and plans to launch services in October.
Government has ordered prosecution against Jet Airways for alleged violation of various sections of the Companies Act, 1956, on account of financial transactions, including dividend paid out of profits.
Jet Airways' cabin crew and ground staff have challenged the Jalan Kalrock consortium's resolution plan, which was approved by the National Company Law Tribunal (NCLT) in June, flagging concerns about pending salaries and retirement benefits. In their petition filed before the National Company Law Appellate Tribunal (NCLAT), the Jet Airways Cabin Crew Association and Bhartiya Kamgar Sena have submitted that dues of all workmen of the airline were not included as part of the Corporate Insolvency Resolution Process (CIRP) cost. In June, NCLT approved Jalan Kalrock Consortium's resolution plan for Jet Airways, which remains grounded for more than two years now.
The plane's left engine burst into flames on the runway at McCarran International Airport in Las Vegas on Tuesday afternoon while it was about to depart for London's Gatwick Airport with 159 passengers and 13 crew members on board.
Of these four flights (except Qatar Airways) returned to Kozhikode airport as the weather condition in Kozhikode gained normalcy.
The United Kingdom government on Tuesday said that though the air traffic control 'technical issue' that led to the severe disruption of hundreds of flights and left thousands of passengers stranded has been resolved, routes will continue to be affected for some days as airlines scramble to recover from the domino effect on their schedules.
IndiGo's passenger load factor, at 67% in July, fell six percentage points from the same month last year.
Despite the best ever quarterly net profit of Rs 3,091 crore during April-June of financial year 2023-24 (Q1FY24), challenges are mounting for InterGlobe Aviation-run IndiGo in the near term, said analysts. Given this, most brokerages have retained their ratings from 'buy to underperform', as well as their target price for the stock. For instance, Motilal Oswal Financial Services has retained its 'neutral' rating on the scrip as it believes the low-cost airline is facing teething issues at present.
Public sector lender Punjab National Bank (PNB) has moved the Insolvency appellate tribunal NCLAT against the approval of bids for defunct airline Jet Airways. The National Company Law Appellate Tribunal (NCLAT) bench has issued a notice over the PNB's petition along with its interim plea seeking a stay over the execution of the resolution plan. A three-member bench has directed the Resolution Professional of Jet Airways along with other parties including the Committee of Creditors to file a reply within two weeks and rejoinder, if by PNB, within one week.
Tata group-owned Air India plans to hire expat pilots for its Boeing 777 planes as the airline is facing a shortage of pilots amid plans to expand its fleet as well as international operations, according to sources. The carrier is looking to rope in around 100 pilots for the wide-body Boeing 777 fleet and has approached various agencies that provide expat flight crew to airlines, the sources told PTI. The loss-making Air India, which was under government ownership for nearly seven decades till the Tata group took over in January 2022, had stopped hiring expat pilots many years ago to save costs.
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