SpiceJet's resurgence, once the new funding is in place, has the potential to disrupt the Indian aviation market in 2024 as the airline will bring its grounded aircraft back to service and lease as many planes as possible to be competitively relevant, aviation consultancy firm Capa India said on Thursday. "Although the market for procuring aircraft in 2024 is exceptionally tight, we expect that SpiceJet will bring stored aircraft back into operations, and will wet or dry lease as much capacity as possible, in order to be competitively relevant. "This will have a material impact on the industry structure, and possibly on domestic profitability," Capa India said in its report.
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He said permitting Etihad would not only amount to "certain demise of national carrier Air India" but also stunt the growth of the New Delhi international airport as a world-class hub for the South Asian region.
Describing the over Rs 2,000 crore (Rs 20 billion) business proposal between Jet and Etihad airlines as a win-win deal, Civil Aviation Minister Ajit Singh on Thursday said it will be beneficial for flyers.
Premier League leaders Manchester City have revealed an annual loss of 194.9 million ($308 million) for 2010-11, the biggest ever in English football.
International and Indian airlines are refusing to refund cash and giving credit that can be used later.
Speaking at the 2013 CAPA Australia Pacific Aviation Summit held in Sydney, Abu Dhabi-based Etihad Airline's President and CEO James Hogan said, "We are delighted to welcome Air Serbia to our equity alliance, and look forward to receiving final approvals from regulators in India of our investment in Jet Airways," he added.
Under the resolution plan, the lenders would end up having a sizable portion of shares in the airline, if their boards of directors agree to convert part of their debt into equity.
Over the past several months, the airline has struggled to pay vendors and staff salaries on time.
'Parts of Pad Man look like a Vicco Turmeric commercial, parts of it look like a Tourism Ad and parts of it like a commercial for Etihad Airlines. But almost all of it, unmistakably, sounds like one big town-hall message,' says Sreehari Nair.
Abu Dhabi-based Etihad Airlines has agreed to halve the number of directors on the Jet Airways Board to two posts under the Rs 2,058 crore deal, giving the Indian promoters 'effective control' of the carrier.
'The airline business is very dynamic. If you are unable to keep up and lead, you end up last.' 'This is what has happened to Jet.'
Rediff photographer-cum-correspondent Rajesh Karkera was the ultimate fly on the wall throughout the five days at Lakme Fashion Week Winter Fest 2016.
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.
Non-uniform definition of control makes foreign investors wary, raise corporate governance issues.
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