AVIATION INDUSTRY IN 2024
Indians spending a lot more on lounges, premium services at airports
Executives of airports said that the demand for shared-use lounges has gone up significantly, driven by an increase in business class and an exponential increase in complimentary lounge access programmes by credit card companies.
InterGlobe shares up 0.59% as Nifty gains
A total of 6,414 shares changed hands on the counter till 11:32AM (IST).
Share price of InterGlobe jumps as Sensex gains 181.13 points
Promoters held 37.91 per cent stake in the company as of 31-Mar-2024, while FII and DII ownership stood at 23.66 per cent and 12.38 per cent, respectively.
NASA yet again lets down Sunita Williams: Return of the Boeing Starliner crew further delayed
NASA has once again disappointed astronauts Barry 'Butch' Wilmore and Sunita Williams, currently stranded at the International Space Station (ISS), whose return to Earth has again been delayed until mid-August, according to latest reports. Amid NASA's moon landing missions like Artemis 2, it also needs to securely bring their astronauts home, and that too, without much delay.
InterGlobe shares up 0.39% as Nifty gains
A total of 16,651 shares changed hands on the counter till 11:26AM (IST).
Budget 2024 FAQs: Quick guide on how to read and understand the Budget
Budget 2024 FAQs: The Budget acts as a detailed plan outlining the government's anticipated income and spending for a fiscal year, covering from April 1 to March 31 of the subsequent year. This financial blueprint is pivotal in defining the nation's economic priorities and allocating resources accordingly. After the finance minister delivers the budget speech in the Lok Sabha, these essential documents are promptly uploaded to the official website, ensuring quick and widespread access to critical financial information.
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Another block deal in IndiGo, 5 lakh shares change hands; stock flat
Earlier on Tuesday, promoter group entity InterGlobe Enterprises had sold a 2% stake or around 77 lakh shares in the airline after which their ownership had dropped to 35.75%. That was the first instance the Bhatia Family sold their stake in InterGlobe Aviation after the IPO.
Share price of InterGlobe falls as Sensex gains 471.3 points
A total of 32,966 shares changed hands on the counter till 01:33PM (IST)
IndiGo promoter offloads 2% stake in Rs 3,367 crore block deal
InterGlobe Enterprises, owned by Rahul Bhatia's family, sold 2% stake in IndiGo for Rs 3,367 crore, marking their first stake sale post IPO.
IndiGo promoters likely sell 2% stake in Rs 3,700 crore block deal; stock sheds 4%
IndiGo Block Deal: This is the first time the Bhatia Family is offloading their stake in IndiGo post the IPO. InterGlobe Enterprises, through which Rahul Bhatia, one of the company's promoters, held a 37.91% stake in the company as of March 2024, according to BSE filings. Following the block deal, there will be a lock-up period of 365 days for the seller.
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.
Why should reforms now be a problem? Freebies, promised or delivered, didn’t work. Labour, trade, education & privatisation reforms await
Voters in the recent election have sent a clear message: they value responsible spending over freebies. At the national level, the NDA government, despite a reduced majority, was preferred over a challenger promising unattainable giveaways. Similarly, in Andhra Pradesh, the incumbent government, known for excessive freebies, faced a resounding defeat. The takeaway for future governments is to spend taxpayer money judiciously, prioritizing essential functions like infrastructure, education, health, and defence.
India airline industry to report wider loss in FY25, consultancy says
India's airline industry is projected to face widening losses of $400-600 million in fiscal 2025 due to escalating costs despite increased passenger demand. CAPA India forecasts a rise in yields by 1% this year, with overall costs to increase by 3.8%. The market is dominated by low-cost carrier IndiGo, while the Air India group and newer carriers like Akasa Air and SpiceJet also play significant roles. Domestic passenger traffic is expected to grow to 161-164 million, with international traffic reaching 75-78 million, reflecting India's status as the world's fastest-growing aviation market.
InterGlobe shares up 4.72% as Nifty gains
The stock quoted a 52-week high price of Rs 4520.0 and low of Rs 2331.2.
InterGlobe shares down 9.09% as Sensex falls
A total of 57,530 shares changed hands on the counter till 12:22PM (IST)
Airline passengers, profits to hit record highs in 2024
Nearly 5 billion passengers are expected to fly in 2024. The number will be a record, beating the pre-Covid pandemic high, trade industry association IATA said. IATA also said it expected the world's airlines to post $30 billion in net earnings this year, up from its previous estimate of $25.7 billion.
InterGlobe shares up 2.36% as Nifty gains
A total of 9,796 shares changed hands on the counter till 11:36AM (IST).
French flight simulator provider Simaero to invest USD 100 mn in India
The construction of its training facility is underway in the national capital and is expected to be completed by the fourth quarter of 2024. The facility, which will be spread over 4,500 square metres, will feature eight full-flight simulators for A320 neo and B737NG aircraft types.
InterGlobe shares down 3.26% as Sensex falls
A total of 40,654 shares changed hands on the counter till 01:54PM (IST)
Boeing now sees negative free cash flow in 2024 as deliveries remain sluggish
Boeing will burn rather than generate cash in 2024 and deliveries aren't expected to increase in the second quarter, the company's finance chief said Thursday, as the U.S. planemaker grapples with a full-blown crisis that is weighing on production of its strongest-selling aircraft.
InterGlobe shares down 0.81% as Nifty gains
A total of 15,237 shares changed hands on the counter till 12:58PM (IST).
Flight to sustainability: How microgrids are transforming airports into green energy hubs
Airports worldwide are increasingly investing in microgrid technology as a strong strategic solution that allows them access to continuous, localised, and self-reliant power supply.
Section of AIESL's permanent engineers plans to go on strike on May 24
1,700 AIESL engineers threaten strike from May 24 for immediate implementation of revised salary payments, citing discrimination issues and unfair labor practices.
Indian airlines to have 50% market share in international passenger traffic by FY28: CRISIL
CRISIL predicts Indian airlines to handle half of the nation's international air passenger traffic by 2027-28, up from 43% in the previous fiscal. This surge is driven by fleet expansion, new routes, and better domestic connectivity. Rising disposable incomes and government initiatives are fueling international travel growth.
IndiGo announces bonus for its employees
IndiGo, India's largest airline, is set to return to full-year profitability in FY 24, following a challenging period due to the pandemic. The company has announced a bonus for its employees equivalent to one and a half months' salary. The surge in domestic passenger numbers has contributed to IndiGo's quicker recovery compared to other global airlines. Its shares have witnessed significant gains, with analysts expecting a profit between Rs 7,500-8,000 crore in FY 24.
This tax-saving ELSS fund gave 14.3% returns in five years; should you invest?
Axis ELSS Tax Saver Fund: This fund has undergone a shift in its investing stance in recent years. The big change is in the form of a more diversified portfolio (currently around 60 stocks), against the earlier preference for a compact portfolio of around 40 stocks. This has also reduced the heavy concentration at the top end of its portfolio, with the fund diluting positions in its top bets. It has also sizeably hiked its presence in mid-cap stocks, even as it retains a large-cap tilt. Should you invest?
Stocks in news: Bajaj Finance, Vedanta, Tech Mahindra, ICICI Sec, SBI Card, SBI Life
Metal major Vedanta on Thursday reported a net profit of Rs 1,369 crore for the March-ended quarter, down over 27% (YoY) compared to Rs 1,881 crore reported in the year-ago period. Consolidated revenue from operations for the quarter stood at Rs 34,937 crore, down 6% YoY over Rs 37,225 reported by the company in Q4FY23.
F&O stocks to buy today: Indigo, L&T among top 6 trading ideas for 19 March 2024
Positive market setup was seen in stocks like Tata Steel, Jindal Steel, M&M, Tata Power, Tata Motors, ABB, Godrej Consumer Products, PI Industries, Bajaj Auto, OFSS, Pidilite Industries, SRF, Indigo, etc. among others.
Budget 2024: FM Sitharaman proposes measures for aviation to soar higher
Budget 2024: In a significant announcement during her budget speech on Thursday, Finance Minister Nirmala Sitharaman revealed plans to double the number of airports in India to 149. Alongside this expansion, a total of 517 new air routes will be introduced, catering to the increasing demand in the aviation sector.
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