Meanwhile, the Directorate General of Civil Aviation has also ordered an engineering audit of the airline after the carrier is said to have found it difficult to provide equipment to operate some flights.
Competition promotes innovation in the business model, creating sustainable value.
SpiceJet Ltd., an Indian budget airline, will likely to sell a foreign currency convertible bond worth $90 million by early September to raise money for more plane purchases, a company executive said Wednesday.
As the competition between new airlines to attract passengers becomes increasingly cut-throat, damage caused to a plane by a toppled step-ladder has become the bone of contention between the two carriers.
For the Rs 599 offer, taxes and other fees and charges, barring fuel surcharge, would be additional, but the Rs 1,999 offer is all-inclusive
IndiGo's size should be compared with global carriers, and not other domestic airlines, chief executive officer Pieter Elbers said on Tuesday, adding that such benchmarking will help India transform its airports into aviation hubs. Elbers flagged the tendency to scrutinise domestic competition, assess fares on domestic routes, and determine if they are high. "But if we want to build some hubs, we should have a broader look," he said during a panel discussion at a convention organised by All India Management Association (AIMA).
Debt laden SpiceJet has to pay Rs 1,230 crore toward dues.
The company's shareholders recently okayed a move to raise Maran's stake from 38 per cent to 43 per cent.
.jpg)
SpiceJet's ex promoter Ajay Singh is trying hard to pump in huge money into the airline.
As SpiceJet faces heat from the aviation regulator DGCA for multiple flight incidents in the last few weeks, malfunction cases involving planes of IndiGo and Vistara came to light on Wednesday.
Civil Aviation minister says that certain regulations restricting the growth in the aviation sector needs to be re-looked to attract investments.
A SpiceJet aircraft with 179 people on board was today grounded after a foreign traveler claimed that there was a bomb inside the plane, forcing authorities to evacuate all the Delhi-bound passengers. However, after a thorough search of the plane, authorities at the Tribhuvan International Airport in Kathmandu said that it was a hoax.
Only two no-frill carriers, IndiGo and SpiceJet, have applied for permission for more flights from the DGCA this season than they did last year, official sources said, adding that other airlines have scaled down the number of flights they wish to operate this year.
According to a separate stock exchange filing by the company, Kalanithi Maran and Kal Airways have increased their holding in SpiceJet to 52.14 per cent.
The American investment bank also upgraded the stocks of both these companies to 'buy' from 'underperform', saying improving industry trends such as signs of ticket price hikes and reduced capacity will improve profitability.
The airline reported a loss of over Rs 1,000 crore last fiscal which is five times higher than its 2013 loss.
Other airlines are expected to follow suit.
Sanjiv Kapoor questions the rival's change in strategy and claims of full load.
Fuel costs, interest and lease rentals increased but an increase in other income (Rs 11 crore) and non-operating income (Rs 28 crore) helped the airline to boost revenue and contain losses.
With a contrarian approach to the Indian market, Mills has reconfigured SpiceJet and eked out its first profit in five quarters. His plan is not without risks.
SpiceJet did not provide the details of its ancillary revenue.
Spice Jet to start a series of daily flights from Coimbatore to Delhi, Mumbai and Hyderabad, will lauch services to Port Blair, Pune in October.
The bookings under the 'Super Summer Sale' offer will remain open till Wednesday mid-night.
We are only 9-10 months into the turnaround exercise: Maran
Consumption-related stocks, such as hotels, and quick service restaurants (QSRs), have been hitting the ball out of the park ahead. On the other hand, the Miss World Pageant scheduled for later this year in New Delhi, too, could provide some tailwind to these stocks, especially hotels and aviation. However, analysts suggest investors put their best foot forward and buy these counters only on a decline given the recent rally and economic headwinds.
Calculations based on the latest marketshare figures released by the ministry of civil aviation show that while a merger with GoAir or its acquisition would give SpiceJet a marketshare of 15 per cent, a merger with IndiGo would give it a hold over more than a quarter of the market. SpiceJet's current market share stands at 12 per cent.
No-frill carrier SpiceJet has begun an enquiry into an incident in which a differently-abled woman was off-loaded from its Kolkata-Mumbai flight on Sunday after the crew claimed it was not safe to have her on board. The airline, expressing regret at the incident, said, "We are investigating the matter internally and action will be taken". Jeeja Ghosh, a 42-year-old teacher at Kolkata's Indian Institute of Cerebral Palsy, was offloaded after she had boarded the flight.
Low-cost carrier SpiceJet on Tuesday said it is likely to break even in April-June.
Web designer Anvit Solomon Hembrom was arrested in New Delhi by sleuths from the cyber crime cell of Kolkata Police on charge of cheating, Deputy Commissioner of Police (Detective Department) Gyanwant Singh said in Kolkata on Friday.
Jet Airways, IndiGo have gained market shares as SpiceJet cancels flights.
High fuel prices are not only taking a toll on airline companies' balance sheets, but also forcing them to innovate to cut costs.
Despite a bleak operating environment, Jet Airways and SpiceJet have flown into the black. The turnaround may have more to do with their embattled rivals than anything else.
The company's HR now sends flowers and a get well soon card to check in on its employees.
Low-cost carrier SpiceJet on Wednesday announced lower fares starting from Rs 1,430, inclusive of all taxes and charges, across its network.The offer is valid for tickets purchased on its website from June 10-12 for travel between July 1 and September 15, the carrier said in a statement.
The exclusivity clause for closing the deal between private equity investor WL Ross and SpiceJet that ended on July 31 has been extended because the US-based company is re-negotiating with creditors to write down their debt with the low-cost carrier.
SpiceJet is conducting a strategic review of fleet and network, which could see staff reductions and a possible phase out of Bombardier Q400 planes in three months.
The Tatas and the Dubai-based Istithmar Group may increase their stake in Delhi-based low-cost carrier SpiceJet, which has a 10 per cent market share in Indian aviation market. While the Tatas, who currently hold 7 per cent stake in the company through Ewart Investment, may hike their shareholding to 15 per cent, Istithmar is likely to raise its stake from 13 to 30 per cent, sources said.
Some airline sources, however, fear it will reduce overall yields
© 2026 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances