Buyers find ways to cope with shipping restrictions.
Delhi-based budget carrier SpiceJet will acquire 10 new Boeing 737 airplanes as a part of its fleet expansion programme.
India's aviation industry could return to profitability in 2023-24 for the first time since the pandemic. The industry may pare aggregated net loss by 75-80 per cent year-on-year (YoY) to between Rs 3,500 crore and Rs 4,500 crore in 2022-23 (FY23), compared with Rs 17,500 crore of net losses in 2021-22 (FY22). A combination of recovery in passenger volumes and easing cost pressures due to stable fuel and foreign exchange (forex) costs could spark a turnaround. CRISIL says domestic and international passenger traffic recovered to 90 per cent and 98 per cent, respectively, of pre-pandemic traffic (2019-20, or FY20), in April-December 2022, compared with April-December 2019.
Moving ahead with its fleet expansion plan, cash-strapped Air India has sought a long-term loan of USD 475 million from banks and financial institutions to acquire three long-haul Boeing-777s.
The first flight with over 150 passengers from Chennai landed here this morning as the 'cultural capital' was included in the list of one of the major low-cost airliners in India.
Star Alliance, the 19-member global airline grouping, on Thursday voted to accept India's national carrier Air India in the club that offers passengers a choice of over 17,000 daily flights across 160 countries.
Skylark Drones, a leading drone platform company that counts Tata Steel, Ultratech Cement, Softbank Energy among its customers has secured $3 million in a pre-series A funding round. It would use the funding to strengthen its product offerings and fuel international expansion.
Public carrier Indian (formerly Indian Airlines) on Friday signed a deal with Airbus Industrie for the purchase of 43 aircraft as part of its fleet expansion plan, which was cleared by the government earlier.
Vijay Mallya-promoted Kingfisher Airlines has taken the delivery of four Airbus A-321s in the past three weeks out of the 43 aircraft that it is buying from the European plane manufacturer.
The Wadia family-promoted budget carrier GoAir on Wednesday said it has placed an order worth $1.2 billion with Toulouse-based Airbus Industrie to buy 20 Airbus 320 aircraft as part of the airline's fleet expansion programme.
Air Deccan, the country's first low cost airlines, has chalked out an ambitious expansion plan, including augmenting its fleet to 30 aircraft by the end of this fiscal and setting up a modern hangar in Chennai in the next six months, its managing dir
Slower fleet expansion, fewer new flights could end cheap travel option.
Key executives in Kingfisher Airlines and Air Deccan, which announced merger plans on Wednesday, said the merged company has plans to almost double its fleet from 80 to 158 aircraft over the next five to seven years and raise $250 million through equity infusion to finance its immediate expansion needs.
Air India on Monday said it will lease 12 more aircraft comprising both A320 neo and Boeing 777, which are expected to be inducted in its existing fleet in the first half of 2023. The new planes will be deployed on the airline's short, medium and long-haul international routes, Air India said in a statement. Air India said it has leased 42 aircraft since its privatisation in January this year.
Private air carrier Spicejet on Wednesday said it will raise $75 million (about Rs 355 crore) through the sale of shares or bonds to fund its fleet and route expansion programme.
Prime Minister Atal Bihari Vajpayee, approved the proposal of the civil aviation ministry to remove IA and A-I from the divestment roster.
The proposal to take off Indian Airlines and Air-India from the divestment list will come up for discussion at the next meeting of the Cabinet Committee for Divestment to be held soon.\n\n\n\n
Air-India board to mull craft purchase on Jan 24
The Air-India board on Saturday gave its nod to acquire 28 new aircraft as part of fleet expansion and the acquisition at a cost of about Rs 10,000 crore (Rs 100 billion).
The board of state-run international flag carrier Air-India Ltd on Saturday deferred a key multi-billion-dollar plan to buy up to 17 planes from either Boeing or Airbus, a spokesman said.\n\n\n\n
The board of international flag carrier Air-India will take a final decision on April 9 on a multi-billion-dollar plan to buy up to 17 planes from either Boeing or Airbus, a spokesman said.
The prospective owners of Indian low-cost carrier SpiceJet Ltd plan to cut the airline's fleet, shrink its network and return to a "plain vanilla" business model to achieve profitability, two people close to the investors said.
'We have informed the government multiple times that the situation in the US and India are different.' 'Here, there will be a 500 MHz gap in the frequencies which will safely allow aviation without interference.'
Announcing the launch of its Bangalore-Bangkok direct flight, SpiceJet on Friday said it will be adding 3 to 4 international destinations in the next year.
Two pilot unions at Air India have claimed that there is a shortage of pilots to operate the airline's long-haul and ultra-long haul flights. The concerns raised by the Indian Pilots Guild (IPG) and Indian Commercial Pilots Association (ICPA) also come against the backdrop of the Tatas-owned airline recently cancelling and rescheduling certain flights to and from the North American region due to crew shortage. In a joint letter written to Air India's chief human resources officer Suresh Dutt Tripathi on December 13, the unions said, "...we cannot maintain the printed planned roster due to a shortage of pilots, as CMS (crew management system) does not have standby pilots."
Alliance Air, which is the largest regional airline, is currently operating 77 daily flights compared to 126 last year.
However, while the capacity void in the domestic market has been filled, a vacuum still remains in international connectivity, especially on the India-Europe and onwards route, which was well connected by Jet Airways via the Boeing 777, Airbus A330 aircraft and its hubs in Paris and Amsterdam.
Electric vehicle (EV) sales in India topped the 1 million mark in less than nine months in 2023, a milestone that took an entire year in 2022. According to data from the Ministry of Road Transport and Highways' Vahan Dashboard, 1,037,011 EVs were registered with regional transport offices till September 19, accounting for 6.4 per cent of the total automobile sales in the country this year. The sales surge can be attributed to increased individual purchases as well as business-to-business (B2B) acquisitions by EV fleet operators, industry sources said.
'The funds were arranged from multiple banks at a very competitive rate and converted into dollars at the best rates.'
TROPEX-23 this year witnessed the participation of approximately 70 Indian Navy ships, six submarines and over 75 aircraft.
Though a formal purchase agreement with Boeing is yet to be signed, SpiceJet's order size could be of 40-50 planes, a source familiar with the development said. At list price, a 737 Max aircraft is valued at about $100 million (Rs 620 crore).
Demand for the earlier variant 737NG planes is also expected to pick up due to the grounding of MAX planes.
By 2025, Uber projects that 25,000-30,000 cars -- or 12 to 16 per cent of vehicle additions -- would be EVs, reports Surajeet Das Gupta.
Indian airline industry is expecting to prune its net losses to Rs 3,000-5,000 crore in this fiscal from an estimated Rs 17,000-17,500 crore in FY2023 on the back of improved yields and stable cost environment, credit ratings agency ICRA said on Tuesday. At the same time, ICRA also estimated that domestic air passenger traffic will expand by 8-13 per cent each in FY2024 and FY2025. The rating agency has also maintained its stable outlook on the industry in view of healthy passenger traffic growth, improved yields and a stable cost environment.
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