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Bright future for air cargo sector; need to ensure faster turnaround time: Official
The Indian government is working on improving processes and ensuring faster turnaround time in the air cargo sector to tap its potential. The government is also developing logistics hubs to improve the ease of doing business. The air cargo sector accounts for nearly 10% of domestic carriers' revenues and is estimated to grow to USD 16.37 billion by 2027.
China deploys aircraft carrier off Philippine coast amid tensions over South China Sea
China's second aircraft carrier 'Shandong' has been deployed to patrol waters off the Philippine coast amidst growing tensions over territorial claims in the South China Sea, serving as a deterrent against perceived provocations. The carrier's presence is seen as a signal of China's resolve to protect its sovereignty amid escalating maritime conflicts with Manila. The deployment follows China's introduction of a new law authorizing its coast guard to detain foreign ships and crews in contested waters.
NCLT to hear insolvency plea filed by Engine Lease Finance against SpiceJet on August 2
The National Company Law Tribunal (NCLT) has sent a notice to SpiceJet following an insolvency plea initiated by Engine Lease Finance BV, an aircraft engine lessor involved with the financially troubled airline.
Air India- Vistara merger gets NCLT nod
The National Company Law Tribunal (NCLT) has approved the merger of Air India and Vistara, making Air India the largest international carrier in India operating flights to five continents. The merger, already approved by the Competition Commission of India, will lead to a more efficient operation by eliminating duplicities in resources and operations. Consultants are working on harmonizing workforce and route networks, with the integration process set to begin gradually without grounding flights.
Government's protectionist move divides aviation industry
India's aviation industry is divided over the policy to freeze flying rights to Middle East nations, with Air India CEO Campbell Wilson advocating for limiting market access for foreign carriers.
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.
Akasa Air expects Boeing 737 MAX 10 deliveries by 2027
Indian carrier Akasa Air anticipates receiving Boeing's 737 MAX 10 aircraft by summer 2027, according to CEO Vinay Dube. The airline, which ordered 150 737 MAX narrow-body planes in January, including MAX 10 and MAX 8-200 versions, currently operates a fleet of 24 aircraft, all 737 MAX models.
SpiceJet plans to raise USD 250 mn in next couple of months: Airline Chief Ajay Singh
SpiceJet Chief Ajay Singh announced plans to raise around USD 250 million in the next few months to boost operations amid challenges such as lessor and debt issues. Singh expressed confidence in overcoming obstacles, stating the airline's balance sheet will be strengthened over the next two quarters. Despite current challenges, SpiceJet aims for growth and stability, with plans to expand its own fleet while emphasizing the importance of aviation hubs in India.
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.
Malaysia Airlines bets big on Indian non-metro cities
Malaysia Airlines is facing challenges in expanding its operations in India due to a shortage of flying rights. The airline has exhausted its rights to Indian metros and is now planning to increase frequency from Amritsar to seven flights per week from August. The airline has also started flights from Trivandrum and Ahmedabad.
Engine Lease Finance moves insolvency plea against SpiceJet
SpiceJet, a low-budget airline, has filed an insolvency plea against its debt-ridden debtor, Engine Lease Finance BV, over non-payment of over USD 12 million. ELF has leased eight engines to SpiceJet and has claimed around USD 16 million in interest and rental. The matter was listed before the Delhi-based bench of the National Company Law Tribunal (NCLT), where SpiceJet was directed to file its response. ELF, the world's leading independent engine financing and leasing company, has previously approached the Delhi High Court after terminating a lease for two engines.
Reliance-BP and Shell-MRPL jet fuel sales take wing in April
Reliance-BP and Shell-MRPL, the two private sector joint ventures, have made extraordinary gains in a year, taking their combined market share in the ATF market to 10.3% in April from 6.3% in the same month last year, according to industry data.
SpiceJet and Sun Group in fresh war of words over shareholders dispute
The Delhi High Court had set aside its earlier order upholding the arbitral award in favour of Kalanithi Maran and against low-cost airline SpiceJet, bringing in relief for the cash-strapped carrier.
Delhi HC sets aside order upholding arbitral award in favour of Kalanithi Maran and against SpiceJet
The Delhi High Court on Friday overturned a ruling that upheld an arbitral award favoring Kalanithi Maran against SpiceJet. Maran sought a refund of Rs 579 crore with interest from SpiceJet in a share transfer dispute dating back to January 2015. Shares of SpiceJet surged 6.5% post the court's decision.
Jet Airways founder Naresh Goyal's wife Anita Goyal passes away
From 2015, Anita Goyal became non-executive vice president of Jet Airways but remained part of the board of directors. Last week, the Bombay High Court on Monday granted interim bail for two months on medical grounds to Jet Airways founder Naresh Goyal, who has been arrested by the Enforcement Directorate (ED) in a money laundering case.
FA Airlines to buy regional airline FlyBig
Mumbai-based FA Airlines is set to acquire regional carrier FlyBig, which currently has four planes in its fleet. FA Airlines, incorporated in 2022, is focused on the aviation sector. The deal, for which an initial pact has been signed, will expand FlyBig's fleet by more than 20 aircraft once completed. Fauzia Arshi, an entrepreneur from the film industry, is the Managing Director of FA Airlines. India's civil aviation market is among the world's fastest-growing, with rising domestic air traffic. There are currently at least six scheduled regional carriers and six scheduled domestic airlines in India.
AI Express operations almost back to normal; no flight cancellation on Tue: Officials
The strike by the cabin crew was called last Thursday and the Tata Group-owned carrier also withdrew termination letters issued to 25 cabin crew following a conciliation meeting convened by the chief labour commissioner in the national capital.
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.
Airbus order enough to have impact: IndiGo CEO Pieter Elbers
IndiGo's CEO Elbers announced the airline's entry into the long-haul aviation market due to strong domestic traffic. The decision includes an order for 30 Airbus A350-900 aircraft, with significant growth potential in the global market.
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