AIRLINE GROWTH
Budget will announce historic steps, present a ‘futuristic vision,’ says President Murmu
President Murmu said that today India alone contributes to 15% of the global growth and reiterated her government’s commitment to make India the third largest economy in the world. She sought the support of the Opposition to meet this goal, invoking the Vedas and said all sides should work together “with a common idea and goal”.
Bon Voyage! Airlines give wings to your holiday plans
Indian carriers like MakeMyTrip, IndiGo, and Cleartrip have added direct flights to various destinations, leading to a significant increase in outbound tourist numbers from India.
Going forward, expect good growth from Aadifidelis Solutions: Shikhar Aggarwal, BLS International
Shikhar Aggarwal, Joint MD, BLS International Services talks about inclusion in Nifty tourism index, synergies from buying stake in Aadifidelis Solutions and more. Aggarwal also discusses the major contract renewals which are expected in the next six to nine months. He also says that in one, one-and-a-half years, multiple contracts are expected from European and North American markets
ET Graphics: Domestic flyer traffic growth in the slow lane
Domestic air traffic increased by 4.4% in May, with airlines carrying 13.8 million passengers compared to 13.2 million in May 2023, and 723 passenger complaints were recorded.
IndiGo promoters sell around 2% in airline
InterGlobe Enterprises, the promoter group of IndiGo, sold a 2% stake in the airline for over ₹3,367 crore to fund its ventures. The stake sale will be used for hospitality and corporate purposes.
Moving beyond Airbus & Boeing: What will it take for India to make its own commercial airliner?
India is already a growing sourcing hub for the global defence and aerospace industry. With government help, this ecosystem can, in time, be developed to support the development of a commercial plane. That is how we made our space programme, experts point out.
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India's aviation mkt growth needs to be matched with capacity; open for partnerships: Emirates CCO
On whether Emirates is looking for partners in India, Kazim said it is open to any such future engagements if there is an appetite in an Indian airline for that sort of dialogue and engagement.
Akasa Air well on path to profitability; will launch more intl flights: Co-Founder Aditya Ghosh
Akasa Air, co-founded by Aditya Ghosh, is progressing towards profitability and expanding its reach to South and Southeast Asia. In under two years, the airline has grown to a fleet of 24 planes with over 4,000 employees. Ghosh emphasizes a customer-focused, consistent approach to operations and plans further international and domestic expansions.
Delhi Airport plans to raise capacity by 30% in 3 years
Delhi International Airport (DIAL) plans to expand capacity by 30% due to increased aircraft orders. CEO Videh Kumar Jaipuriar discussed the expansion at the CAPA India Aviation Summit.
Domestic air passenger traffic grows 5.1 pc to about 138.9 mn in May: ICRA
In May, domestic air passenger traffic grew 5.1% YoY to 138.9 million, 14% higher than pre-Covid levels, as per Icra. The Indian aviation industry outlook is stable with a continued recovery in passenger traffic and stable cost environment, expecting the trend to continue in FY2025.
Constructive policies over last several years exciting for India: Vinay Dube, Akasa Air
What I can talk about is the progressive and constructive policies that I have experienced over the last several years, those are very exciting for the country.
SpiceJet plans to raise Rs 2,000 crore by August, increase capacity: Singh
SpiceJet aims to raise Rs 2,000 crore by August for capacity expansion via aircraft leasing, with plans for another round of fundraising after a previous attempt fell through due to investor withdrawals. Chairman Ajay Singh outlined a strategy to raise $250 million by mid-August, expressing confidence in the airline's resilience despite financial challenges and a reduced fleet strength of around 25 operating planes.
Vistara nimble enough to make course corrections: CEO Vinod Kannan
Vistara CEO Vinod Kannan stated the airline is agile in making adjustments during disruptions, as it navigates its merger with Air India. The carrier aims for growth through the merger, emphasizing the importance of full service carriers in India's market. Kannan expects the merger to be finalized by year-end, pending NCLT approval.
Air India Express bets on growth opportunities, group synergies
Air India Express Managing Director Aloke Singh announced plans to focus on cost-cutting and transformation in 2024-25, aiming to unlock synergies through merging with AIX Connect (formerly AirAsia India) and collaborating with Tata Group's airlines, including Vistara. Singh expressed confidence in revenue growth and network expansion without concerns about bilateral flying rights hindering growth at the CAPA India Aviation Summit 2024.
Air India in 'good position', to retrofit over 100 planes: CEO Campbell Wilson
Air India is set to retrofit over 100 planes, with a focus on integration, growth, and customer experience under Chief Campbell Wilson's leadership. The airline is ordered 25,000 new seats as part of its fleet revamp. Tata Group's aviation business consolidation sees AIX Connect merging with Air India Express and Vistara. Wilson emphasizes Air India's transformation plan, highlighting the airline's flexibility and potential partnerships.
Delhi to host global aviation body’s showpiece event next year
New Delhi to host 81st IATA AGM with IndiGo's Pieter Elbers as chair, highlighting India's aviation growth. IATA projects India as third-largest aviation market by 2026. Civil Aviation minister Jyotiraditya Scindia praises sector's growth with record passenger count and enhanced regional connectivity
Japan Airlines and IndiGo Agree on Codeshare Partnership; enables JAL to expand reach to 14 IndiGo destinations in India
Japan Airlines (JAL) and IndiGo announced a codeshare partnership benefiting customers with more travel options between Japan and India.
We are poised to open a minimum of 25 hotels this year: Puneet Chhatwal, IHCL
I think as things are beginning to normalise, this global travel will also start coming back. And as of this October, we should see us getting close to the pre-COVID level. And it is only next year that India will cross the international arrival numbers that it had prior to COVID.
Wall Street ends lower amid rate concerns, higher bond yields
Stocks declined following the Beige Book release, showing U.S. economic expansion and reduced rate cut expectations, per CME FedWatch Tool.
IndiGo draws upgrades with focus on yields even as it adds capacity
During FY22 and FY24, IndiGo has been following a clear strategy of expanding capacity at a brisk pace and boosting yield - revenue per km per paid passenger. During this period, the airline has been adding capacity in the range of 22-63% on a year-on-year basis. In the same period, yield jumped 19% to ₹5.08 per kilometre in FY24.
Airlines dole out hikes and bonus after a good year
IndiGo and Air India announce salary hikes and bonuses for employees. IndiGo offers a 5% bonus to mark profitability in FY24, while Air India hikes salaries and bonuses up to Rs 1.8 lakh from April 1.
Q4 results today: ITC, IndiGo among 181 companies to announce earnings on Thursday
181 companies, including IndiGo and ITC, will announce their quarterly earnings for Jan-Mar 2024. IndiGo is expected to post healthy earnings, while ITC may see muted revenue growth.
IndiGo Q4 Preview: PAT may double YoY on robust demand; healthy revenue growth likely
Brokerages anticipate robust earnings from India’s premier airline in the fourth quarter. The results, slated for release on May 23, are expected to reveal a 16% year-on-year growth in revenue for the period. According to Motilal Oswal, Revenue Passenger Kilometers (RPK) is projected at 30 billion, marking a 16% increase from the previous year, while Passenger Load Factor (PLF) is anticipated to rise to 87.5%, up from 85.8% in 3QFY24. Additionally, Available Seat Kilometers (ASK) are forecasted to reach 34 billion, reflecting a 12% year-on-year uptick.
Egyptair looks to operate daily services connecting Delhi, Cairo
Egyptair plans daily flights between Delhi and Cairo to boost Egypt-India air traffic, with India's growing civil aviation market as a potential powerhouse for future growth.
India to be power house for future airline growth on travel eagerness, growing population: Report
India is expected to be a power house for future airline growth driven by the eagerness of people to travel and growing population, according to a report. In a report, the Netherlands-based ING Bank NV said India is set to deliver strong structural growth figures, and airlines are preparing for this with historically large orders for new aircraft from carriers Indigo and Air India.
Pakistan to privatise all SOEs, except strategic enterprises: PM Sharif
Asserting that the government's job is not to do business but to ensure a business and investment-friendly environment, Sharif directed all ministries to take action and cooperate with the Privatisation Commission.
IndiGo nears decision on widebody jets; forecasts slower capacity growth in next fiscal year
The airline is still considering several options, with an order for about 30 Airbus SE A350s emerging as the most likely choice, said the people, who asked not to be identified because the information isn’t public. A decision could be announced in the next few weeks, the people said, cautioning that IndiGo could still change its mind about timing and the number of planes.
Akasa is India's fastest growing airline; we can do in three years what other carriers have spent 15-20 years doing: Vinay Dube
Vinay Dube of Akasa Air envisions rapid international growth, leveraging India's potential for global travel. The airline aims to achieve in three years what others took 15-20 years, focusing on profitability and customer satisfaction in expanding its network. He also points that Akasa is the first airline to fly internationally within 19 months of launch when most others have taken about six years.
Domestic air traffic growth slows to 4.8% in February
Domestic airlines carried around 12.6 million passengers last month, compared to 12.06 million flyers in February 2022, data released by the Directorate General of Civil Aviation showed.
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