Air India has leased a fleet of six Airbus A320 neo aircraft from CDB Aviation, a wholly owned Irish subsidiary of China Development Bank Financial Leasing Co Limited, to boost the Tata Group-owned company's transformation journey, a statement said on Wednesday. The leasing agreement was signed on the sidelines of the Airline Economics Growth Frontiers Asia Pacific 2022 conference, said the CDB Asia statement. CDB Aviation is among the first aircraft leasing companies to secure the placement of Air India's additional A320 neo aircraft under the recently announced multi-stage transformation plan since the purchase of the airline by Tata group, which aims to increase the carrier's fleet and help it boost both domestic and international operations.
LPG rates were last hiked on November 1 by Rs 2.05 per cylinder. Prior to that rate was hiked on October 28 by Rs 1.5 per cylinder on account of hike in commission paid to dealers.
According to the data available on the Reserve Bank of India's website, net workers' remittances in April-June 2018 were $11.5 billion
To make space for the extra row, Vistara has opted for the smartLav concept offered by Airbus
This is the first time in the history of the airport operator that revenue crossed Rs 10,000 crore.
'It would be a travesty if the Malaysian air force likes the Tejas, but decides against it because it sees the IAF reluctance to back the fighter.'
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 government was also working on a package to promote connectivity and airports in the North Eastern states
The search for the crashed Malaysian jet continued on Sunday with 10 aircraft and eight ships tasked to scour the Indian Ocean, after early sightings in the new search zone drew a blank.
At 15.05 PM, the 30-share Sensex was up 281 points at 28,238 and the 50-share Nifty gained 86 points at 8,577
Higher levels could not be sustained as participants offloaded their long positions in view of September series expiry.
Volumes are up over 20 per cent y-o-y in January-April.
As air travel gathered steam in financial year 2021-22 (FY22) after being restricted the previous year, fewer passengers were affected by flight cancellations. Directorate General of Civil Aviation (DGCA) figures show that there were 40 per cent fewer flyers in FY22 than in FY20, but 60 per cent fewer passengers were impacted by cancellations, and 80 per cent fewer passengers were denied boarding. FY20 was the last financial year when India's booming aviation industry carried out full-scale operations before being completely grounded for a couple of months due to the Covid-19 pandemic.
Perhaps for the first time, petrol in India costs more than the superior jet fuel (ATF) used in aeroplanes, as the government has levied a record excise duty on the fuel used in two-wheelers and cars.
'IndiGo 2018 is a harsh, ultra-lean, mean, zero asset, fighting machine with aspirations of taking on the global long-haul low-cost market.'
10 analysts estimated RIL's consolidated net profit at Rs 11,256 crore and nine analysts estimated revenue at Rs 1.5 trillion.
There were nearly 4,000 cabin crew with Jet when the airline was grounded; every fifth remains without a job to date. One cabin crew member with 10 years of experience has been forced to take up a teaching job; some have branched out into small businesses. Aviation jobs were scarce even before the Covid-19 pandemic arrived on Indian shores in early 2020. The situation has been exacerbated since.
The task I had undertaken was by no stretch of imagination an easy one, says Ajay Singh.
The average fares of all airlines are almost linear.
Any government aid to the airline will ultimately hurt the economy
Its association with India is over 70 years old and spans both civil and military aviation. The Douglas DC-3 transport aircraft used by the air force beginning the 1940s and the iconic Boeing 747 aircraft flown by Air India, both had Pratt & Whitney (P&W) engines. The Indian Air Force's present-day, heavy-lift C-17 Globemaster III and the yet-to-be-inducted C-295 planes, too, have P&W power plants.
Airlines have to deal with high operating costs - fuel, taxation, airport charges - in a very competitive environment.
Broader market outperformed the frontline indices with the Smallcap and Midcap gaining up to 1%
Large trade deficit and rupee decline against the US dollar are putting pressure on the CAD, and these steps are likely to have a positive impact on the external sector.
Prices of tickets booked three days prior have soared 70% over last summer's fares
Sri Lanka on Wednesday declared a state of emergency after President Gotabaya Rajapaksa fled to the Maldives on a military jet in the face of a public revolt against his government for mishandling the country's economy.
Aviation is a juicy target. It's a 24x7 industry, which cannot afford delays or loss of customer credibility.
India lost around 38.5 thousand hectares of tropical forest in the last decade. Nearly 14 per cent of the country's tree cover! It is one thing for Modi to announce that India will reach a net-zero level of emissions in 2070. But if it is serious, it needs to start today, points out Ramesh Menon.
'Windows shook and rattled, and the thunderous growl of the engines doused even the sound of our noisy helicopter till such time the plane had lifted itself into the skies and disappeared from view.'
'We should have calmed down the child. We will do an internal analysis on that.'
German carrier Lufthansa wants to fly its superjumbo A-380s to India and is studying the pros and cons of when and which Indian city to operate from, top airline officials said on Tuesday.
The 16-hour flight will be the first direct one from India to the US west coast.
Thirteen people accompanied Rajapaksa to the Maldives. They arrived in an AN32 aircraft, according to TV news channels.
Brent crude oil prices may rise to $110 a barrel in 2023, up nearly 33 per cent from the current levels, said analysts at Morgan Stanley, in a recent note. This is, however, lower than the peak level of nearly $127 touched earlier in 2022 as geopolitical concerns took centre stage amidrising demand. "Looking ahead, Brent oil price growth will decelerate even more in the coming quarters. "This comes even as our global oil strategist expects a rise in oil prices back to $110 a barrel by the second half of 2023.
Govt to introduce new aviation policy on May 15.
'My adrenalin kicked in and the happiness returned! It was time to go in for the kill again.' IAF Veterans Group Captain Dilip Kumar Dass tells Air Commodore Nitin Sathe about how the IAF decimated tanks in the famous Battle of Longewala.
For Air India and Jet Airways, airspace closure over Pakistan would mean flights to US and Europe will have to take a longer route.
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.
Over 240 people on board a Singapore Airlines flight on Monday had a narrow escape as their jet caught fire while making an emergency landing at Changi Airport here after it turned back en route to Milan following an engine oil warning message but they were safely evacuated.
Markets regulator Sebi has kept in abeyance the processing of Go Airlines' draft papers for an initial public offer worth Rs 3,600 crore. Go Airlines (India) Ltd, which has announced rebranding itself as 'Go First', filed preliminary papers for an initial share sale worth Rs 3,600 crore in May. The proceeds will be mainly used to repay dues. The "issuance of observations (has been) kept in abeyance", according to Sebi's latest update on processing status of Go Airlines' draft offer documents. The information was updated on June 25. In Sebi parlance, issuance of observations implies its go-ahead for the IPO.
