JET AIRWAYS CRISIS
Flight stories: Discover these 6 podcasts about the fascinating world of air travel
Discover a curated selection of podcasts that delve into the thrilling yet complex world of air travel. From tales of air disasters and mysteries like MH370 to insightful discussions about Boeing's quality crisis and the ongoing Boeing vs Airbus rivalry, these podcasts offer a unique blend of entertainment and education. Whether you're an aviation enthusiast, a frequent flyer, or simply curious about the intricacies of commercial aviation, these podcasts provide valuable insights, travel tips, and captivating stories.
Boeing, Airbus need to do more to reduce new jet delays, Qatar Airways CEO says
Demand for air travel has rebounded since the pandemic, but planemakers are struggling to get back to previous production levels due to disrupted supply chains and a safety crisis at Boeing. Qatar Airways is unable to meet high post-COVID demand for travel because of the shortage of new aircraft, Meer said.
Go First: Busy Bee Airways says to evaluate position after reviewing court order
On Friday, the court directed the Directorate General of Civil Aviation (DGCA) to forthwith process the applications filed by several lessors for deregistration of their 54 planes so that they could take them back from the crisis-hit Go First airline. In a post on X, saying it is on behalf of Busy Bee Airways, Pitti said, "We will review the details of the order once we receive the official document".
How Anand Mahindra handled ex-Jet Airways CEO's 'incorrect analogy' critique on Dubai floods
Anand Mahindra engaged in a social media exchange with former Jet Airways CEO Sanjiv Kapoor regarding his comments on the flooding in Dubai. Kapoor criticized Mahindra's comparison of Dubai's flood situation with Mumbai's monsoon rains. Mahindra clarified that his intention was not to mock Dubai but to highlight the unusual weather event. Kapoor later retracted his statement, acknowledging Mahindra's perspective.
Anand Mahindra compares Dubai floods to Mumbai's. 'Incorrect' says Jet Airways ex-CEO
Anand Mahindra's tweet about Dubai's floods sparked controversy, with former Jet Airways CEO designate Sanjiv Kapoor criticizing Mahindra's comparison between Dubai and Mumbai as inaccurate. Mahindra's tweet featured a video of waterlogged roads in Dubai, captioned "Nope. Not Mumbai. Dubai." Kapoor argued that Dubai wasn't designed for heavy rains like cities used to snowfall, suggesting a better analogy would be if it snowed heavily in Mumbai.
'Go First lenders yet to decide on bids, airline's revival likely to be delayed'
Both bidders had increased their bids earlier this month after initial scrutiny by lenders, necessitating an extension to complete negotiations, people familiar with the process said. "The committee of creditors (CoC) will meet either this week or early next week to finalise the extension of the timeline since a few more days will be needed to scrutinise and finally decide on the bids that are currently on the table," said a person aware of the process.
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Boeing, Boeing gone! Airbus scores big wins in Japan & South Korea
Japan Airlines said it's buying 21 Airbus 350-900 as well as 11 A321neos in a multibillion dollar deal, breaking Boeing's exclusive hold as the sole single-aisle jet supplier for the carrier. Boeing brought home a smaller deal, for 10 Boeing 787 widebody jets. Two hours later, Korean Air Lines announced the purchase of 33 Airbus A350 jets for $14 billion in a winner-takes-all contest that left Boeing empty-handed.
SC asks new owners of Jet Airways how much they paid towards PF, gratuity dues of employees
The Supreme Court has raised questions regarding the payment of dues owed to former employees of Jet Airways by the Jalan-Kalrock consortium, the new owners of the financially troubled airline. During the hearing of various petitions, including one filed by the Jet Aircraft Maintenance Engineers Welfare Association, the apex court sought information on the amount paid towards provident fund and gratuity.
How Jet Airways founder Naresh Goyal built a successful airline and then sank it
Naresh Goyal, the founder of Jet Airways, has been arrested by the Enforcement Directorate in connection with a money-laundering case. Goyal, who once led India's largest domestic airline, faced financial problems after acquiring rival Air Sahara in 2007 and making costly mistakes in fleet configuration. Jet Airways ultimately suspended all flights in April 2019 due to a lack of funds. Goyal's arrest marks a significant downfall for a man who was once highly successful in the aviation industry.
IndiGo pilot collapses at boarding gate, pronounced dead at hospital
An IndiGo pilot scheduled for a flight from Nagpur to Pune lost consciousness and collapsed at the boarding gate on Thursday. He was rushed to a hospital where he was pronounced dead, according to sources. This marks the third instance of sudden pilot fatalities this week, with two of the individuals being Indian pilots.
No question of amicable settlement with SpiceJet: Sun Group
Last week, the Supreme Court had directed SpiceJet to pay the entire arbitral amount of Rs 380 crore to its former promoter Kalanithi Maran. The business must be carried out with 'commercial morality', the apex court had observed.
Execution of Rs 578 cr arbitral award: SC refuses to extend time for SpiceJet to make payment to Maran, Kal Airways
In a jolt to low-cost airlines SpiceJet, the Supreme Court on Friday refused to extend the time for making payment to media baron Kalanidhi Maran and his Kal Airways in pursuance of an arbitral award of Rs 578 crore related to a share-transfer dispute, saying these are "luxury" litigations.
SC directs SpiceJet to pay Kalanithi Maran entire arbitral amount of Rs 380 cr
The Supreme Court on Friday directed budget carrier SpiceJet to pay the entire arbitral amount of Rs 380 crore to its former promoter Kalanithi Maran. It further observed that the business must be carried out with 'commercial morality'.
British Airways recovering from a crisis bigger than 9/11: CEO Sean Doyle
British Airways (BA) CEO, Sean Doyle, discusses the airline's recovery from the pandemic and growth plans in India. BA will operate at 92% of its pre-pandemic capacity this year and has seen strong demand and a sharp rebound in leisure travel. However, business travel has not fully recovered. The airline has prioritized critical markets such as the US and India and plans to expand its network in India in the medium term.
Go First crisis results in higher airfare and employees face uncertain times
The crisis at Go First, having its roots in non-availability of Pratt & Whitney engines resulting in grounding of more than half of its operational A320 neo fleet, reached a flash point as the promoters of the carrier decided to suspend flights and sought voluntary insolvency resolution proceedings on May 2.
HC directs SpiceJet to pay Rs 75 cr to Kalanithi Maran towards interest on arbitral award
Maran and Kal Airways had moved the high court over the share-transfer dispute, with SpiceJet demanding that 18 crore warrants redeemable as equity shares be transferred to them. The high court had directed SpiceJet and Singh to deposit Rs 578 crore in the high court's registry. SpiceJet was permitted to furnish a bank guarantee for Rs 329 crore and make a cash deposit of the remaining sum before the high court.
ETMarkets Smart Talk: Policy reforms and infra spending will pick up if Modi govt is back to power in 2024: Rajesh Kumar Jain
The US & Europe which is 42% of the Global GDP and if they would go through a recession in this year as projected by most of analysts, then somewhere the growth across the globe will take a back seat.
Go First crisis: What's the Cape Town Convention? Why do we need it?
The decision by the bankruptcy court will also increase India's risk profile, resulting in lessors charging higher risk premiums from other local airlines, increasing the latter's cost of doing business. Lessors have already filed for deregistration of SpiceJet aircraft, which has already defaulted on lease rentals and has been negotiating with the lessors.
Go First's insolvency flight leaves trail of concerns for aircraft lessors
Currently, Indian carriers have around 700 planes and some of them, including Air India, are expanding their fleet. Most of the commercial aircraft in the country are operated through the sale and lease-back model, and there are concerns that developments related to Go First could push leasing costs higher.
'Risky jurisdiction': Aircraft lessors raise alarm over Go First crisis in India
SMBC, along with firms such as Jackson Square Aviation and Bank of China Aviation, raised the alarm after a tribunal gave Go Airlines (India) Ltd bankruptcy protection to allow it to revive itself, but barred lessors from repossessing planes. A boom in traffic in the world's third-biggest aviation market prompted record jet orders but two major airline failures, of Kingfisher Airlines in 2012 and Jet Airways in 2019, have taken some of the shine off the market.
India to decide on Go First bankruptcy, lessors seeking planes fear impact
Go Airlines (India), recently rebranded as Go First and the country's fourth-largest carrier, will learn its fate on Wednesday in a bankruptcy plea ruling. If its plea is successful, it will become the first Indian airline to seek bankruptcy protection to renegotiate its contracts and debts, leading to the appointment of a new resolution professional to revive the airline. Foreign lessors, including Jackson Square Aviation, SMBC Aviation Capital, and CDB Aviation's GY Aviation Leasing, are nervously awaiting the verdict which could complicate repossession efforts over missed rental payments for leased planes.
Go First seeks interim directions from NCLT to restrain lessors, DGCA from taking adverse action
Wadia group-owned Go First on Thursday sought various interim directions from the National Company Law Tribunal (NCLT) which included restraining lessors from taking back aircraft and regulator DGCA from taking any adverse action against the crisis-hit airline.
IndiGo soars on GoAir woes, and could gain more
IndiGo enjoys more than 55% market share, retaining its number one position. The airline is expected to gain further foothold in the Indian aviation sector. Unlisted Air India and Vistara, both Tata Group airlines stand at second and third spot with a market share of 8.9% and 8.7%, respectively.
From ModiLuft to Jet, the Indian airlines that couldn't stay afloat
India’s private aviation industry has always been turbulent due to high costs, low profitability, intense competition and lack of scale. Here are the stories of some of the airlines that couldn’t keep flying high in the Indian skies.
From ModiLuft to Kingfisher to Jet: A look at airlines that couldn’t fly high for long in India
Go First filing for insolvency proceedings before NCLT is only the latest incident of an aviation company fighting for survival. Aviation companies find it difficult to blossom for a longer period of time owing to a variety of factors including financial shortcomings, cut-throat competition, higher operating costs, and external factors, among other reasons.
Purple patch punctured? The good, bad and ugly of Go First Airlines bankruptcy
Go First's bankruptcy may lead to higher airfares due to the decrease in competition, while investors in other airline stocks, such as InterGlobe Aviation, SpiceJet, Global Vectra and even grounded airline Jet Airways, could benefit. Analysts see the potential exit of Go First as margin positive for sector consolidation as it would mean one less player in the market.
Jet Airways’ return to skies delayed with plane talks in limbo
The airline, once India’s top private carrier, can’t sell tickets in September because lenders are reluctant to allow it to take on any fresh liabilities such as an aircraft order, said the people, asking not to be identified discussing private negotiations. Jet is also still in talks with plane manufacturers and lessors to obtain contracts, one of the people said.
SpiceJet extends ESOP scheme to mid-level employees, critical resource staff
SpiceJet has been going through a tough time for the last few years. The airline reported a net loss of Rs 934.8 crore and Rs 998.3 crore in 2019-20 and 2020-21, respectively.
Aviation veteran Sanjiv Kapoor appointed CEO of Jet Airways
Kapoor, who has been chief operating officer at SpiceJet and Chief Strategy and commercial officer at Vistara, resigned as president of Oberoi Hotels on Thursday and is set to join the airline soon.
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