Deccan Aviation, which owns budget carrier Simplify Deccan, reported an improved performance for the third quarter ended March 2008, increasing its yields by 36 per cent and reducing operating losses by 45 per cent. The airline, however, continues to bleed and posted a net loss Rs 199.6 crore during the quarter (against a loss of Rs 213 crore for the same quarter last year), thanks to soaring oil prices, which increased 36 per cent during the quarter.
The national carrier's capacity is expected to grow by 9.2 per cent with the addition of six more Boeing 787 Dreamliners to the fleet, they said. As of February this year, the airline has 13 Dreamliners in its fleet out of a total order of 27.
This is three and a half times the loss in the same quarter a year ago.
The lower quarterly profit was mainly due to rise in fuel costs, foreign exchange loss and lower yield
As all airlines have raised carriage charges, private couriers have increased their tariffs 8-20 per cent. India Post, on the other hand, has not tinkered with its tariffs at all. As a result, India Post's tariff is 70 per cent cheaper for domestic destinations and 30 per cent cheaper for international destinations.
Low-cost carriers SpiceJet and IndiGo were two of the main traders of aviation turbine fuel (ATF) at the Multi Commodity Exchange of India (MCX), which started trading of ATF futures on Monday, market sources said. Around Rs 34.8 crore worth of ATF was traded till five on Monday evening.
Bleeding Indian carriers, which suffered another setback in the form of a 7 per cent-hike in aviation turbine fuel (ATF) prices on Tuesday, have decided against raising fares this month. This is the first time this year that the carriers are not increasing prices in spite of a hike in ATF rates.
The Wadia family-owned GoAir, the country's smallest low-cost carrier, has decided to retrench 10 per cent of its staff. This, it hopes, will help prune its wage bill by 40 per cent -- a clear indication that the axe will fall on several senior-level jobs.
Within a week of shifting from carbonised air-tickets to e-tickets, the Indian air carriers have managed to save estimated Rs 15 crore (Rs 150 milllion), providing them a way to cut costs after the rise in Aviation Turbine Fuel (ATF) prices.
Airlines in India have suffered a staggering loss of Rs 4,000 crore (Rs 40 billion) in 2007-08, and it could double in the current fiscal depending on which way fuel prices are headed, Civil Aviation Secretary Ashok Chawla said.
The hike in aviation turbine fuel prices is likely to lead to a 10-14 per cent increase in fares on metro routes and long-haul flights. The oil companies hiked ATF prices by 14 per cent as a result of global rise in crude oil prices over the last few months. Now, most airlines, including Jet Airways and SpiceJet, are looking at imposing a differential surcharge - a smaller increase on shorter routes than longer routes.
The bookings of tickets under the four-day "festive sale" offer have begun from Monday for the travel period from September 18, 2018 to March 30, 2019, IndiGo said.
Inflation rose to over nine-month high at 5.11 per cent for the week ended March 1, due to rise in prices of some manufactured items and aviation turbine fuel, dashing all hopes of interest rate cuts by the RBI to boost the sagging industrial production.The Wholesale Price Index-based Inflation rate stood at 5.02 per cent in the previous week and 6.51 per cent in the correspondingly week a year earlier.
The Directorate of Revenue Intelligence has booked cases at Mumbai and Delhi against private airlines Jet Airways and Air Sahara for non-payment of customs duty, the Lok Sabha was informed on Friday.
Pusapati was given detailed presentations on various aspects of the sector by senior officials of the Ministry.
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Officials in India's civil aviation ministry are now expected to meet SpiceJet stakeholders within a couple of days to discuss the revival plan
Petroleum Minister Dharmendra Pradhan's wish to levy indirect tax on petrol unlikely to be taken up
Inflation increased to 3.11 per cent for the week ended November 3, compared to 2.97 per cent a week ago, mainly due to rise in prices of food items, petroleum products and manufactured articles.
There's talk that the Reliance Anil Dhirubhai Ambani Group is eyeing a minority stake in the carrier. It's also possible that private equity players like Texas Pacific Group may want a slice of the low-cost carrier's equity.
Private airlines will explain before the Delhi High Court the reasons for imposing a Rs 150 per head surcharge to meet additional jet fuel expenses while aircraft hovers over major airports due to air traffic congestion.
The new government may also introduce a separate scheme for revival of stranded gas-based power projects
Inflation based on the wholesale price index zoomed to 6.12 per cent for the week ended January 6
The 16-hour flight will be the first direct one from India to the US west coast.
Airline officials said the operational launch may be held in the later part of October.
The first Airbus A-320 aircraft of Tata-SIA joint venture Vistara airline, painted with its logo and livery, landed at the IGI Airport in New Delhi on Wednesday, taking the carrier a step closer to its launch.
The wholesale prices-based inflation rose by 0.21 per cent at 4.82 per cent during the week ended August 5, as against 4.61 per cent for the previous week, with some manufactured products along with aviation turbine fuel becoming costlier.
The government is considering a ban on export of kerosene oil (jet kero) and aviation turbine fuel (ATF), which are similar to kerosene, to boost supplies of kerosene for public distribution system.
IndiGo was set up in 2006 by businessman Rahul Bhatia and Rakesh Gangwal, a former CEO for US Airways Group.
Air Sahara on Tuesday announced a 10 per cent fare hike with effect from June 21 following an increase in the aviation turbine fuel price.
Because of strong headwinds on Delhi-Istanbul route for the last two days, the low-cost carrier has been unable to take most of the check-in luggage in the same aircraft along with passengers, said an airline spokesperson.
Former Air India executive director Jitender Bhargava comes out with a book detailing what went wrong with the national carrier. According to him, India does not have a civil aviation policy, and that's just the beginning.
While the Centre is criticised for not cutting excise duty on petroleum products, it is the states which gain more from the rise in their prices
Air passengers in the Asia Pacific region continue to reap the benefits of the fare war unleashed by the world's leading airlines despite mounting cost of the aviation turbine fuel.
Axis Bank emerged as the biggest gainer in the Sensex pack, surging 6.62 per cent, followed by SBI at 5.88 per cent.
The government is expecting to connect small towns with main metros through its Regional Connectivity Scheme
In a bid to offset a major increase in the price of aviation turbine fuel, Indian Airlines on Saturday announced an across the board 12 per cent hike in fares with effect from April 15.
The growth, however, may not indicate a major revival of economic activity.
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