LOW COST CARRIERS
Why can't we attach assets: HC to SpiceJet
Delhi High Court requests SpiceJet's response on asset attachment to enforce UK court decrees totaling $13.82 million. SpiceJet disputes attachment, citing ongoing fund-raising efforts. Court grants one week for airline to reply.
Delhi High Court seeks SpiceJet's response on lessor's plea for attachment of assets
Delhi High Court seeks response from SpiceJet regarding attachment of assets to enforce UK court decrees for $13.82 million payment to a aircraft lessor. Court gives airline one week to respond.
Regional airports found wind beneath their wings in FY24
India's hinterland air travel surged last year, driven by civil aviation ministry data and government schemes. Airports like Diu, Pantnagar, Tezpur, and Prayagraj saw significant growth, boosted by the Udan scheme and low fares. IndiGo and other airlines expanded services, with CFO Gaurav Negi highlighting the importance of regional routes for broader networks.
IndiGo shifts international operations to terminal 3 at Lucknow airport
IndiGo has announced that starting today, all international flights at Chaudhary Charan Singh International Airport in Lucknow will operate from the newly constructed terminal 3. The airline has proactively informed passengers through SMS, calls, and emails about this change. IndiGo advises passengers to check their terminal by retrieving their PNR on the airline's website or mobile app to avoid any inconvenience.
Good time for IndiGo to grab market share in international segment: Pieter Elbers
If you look at international, though, we do 33 destinations today and they are pretty much in the region and some of the regional and I would say beyond regional expansions, which we recently did, starting flights into Africa, starting flights into Indonesia and starting flights into Central Asia, have been extremely encouraging.
IndiGo to operate direct flights from Durgapur to Bhubaneswar, Bagdogra, Guwahati
Vinay Malhotra, head of global sales at IndiGo, said, "We are pleased to announce new routes connecting Durgapur with Bhubaneswar, Bagdogra, and Guwahati. With these direct flights, we aim to provide our customers with further seamless connectivity."
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IndiGo, Air India upgrade playbooks to keep up with India's rising middle class
India's rising affluence is driving a significant shift in the lifestyle of the middle class, with a growing preference for premium products and experiences, both on the ground and in the sky. Airlines are capitalizing on this trend by offering luxurious amenities to cater to the surging demand, such as roomier seats, gourmet meals served on designer tableware, and lavish vanity kits.
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.
Delhi HC asks SpiceJet to pay $4.8 mn to engine lessors in four instalments
Indian carrier SpiceJet has been directed by the Delhi High Court to pay $4.8 million in four instalments as an interim arrangement to continue using their three leased engines. If the payment is not made, SpiceJet will be liable to ground and return the engines within 15 days.
SpiceJet says Sun Group's claims of damages are unfounded
SpiceJet and Ajay Singh refuted Kalanithi Maran and KAL Airways' Rs 1,323 crore damages claim as legally untenable. Maran plans to challenge a Delhi High Court order favoring SpiceJet. This ownership dispute dates to 2015. Following the claim, SpiceJet's shares dropped 1.24%. The court had overturned an earlier ruling favoring Maran.
Delhi HC upholds order asking SpiceJet to return two leased aircraft, three engines
While dismissing as withdrawn the airline’s appeal, a bench led by Justice Rajiv Shakhder granted the low cost carrier three weeks time till June 17 to return the aircraft and engines along with technical records. The single judge had asked SpiceJet to return the engines by May 28.
Domestic airfares on northward trajectory; still among lowest globally: Experts
Domestic airfares in India have surged up to 40% in key routes due to higher traffic and capacity constraints in the last six quarters. India is one of the world's fastest-growing civil aviation markets, with an average of 4.5 lakh passengers daily. However, capacity constraints are a key challenge as many aircraft are grounded due to supply chain issues. Aviation consultancy firm CAPA India reported that average fares on the top 20 domestic routes had not moved significantly in nominal terms for the last two decades, until the last six quarters.
Flying to the UAE? Dubai, Abu Dhabi increase checks to prevent misuse of tourist visas
Stricter immigration checks at Dubai and Abu Dhabi airports now require visitors to show proof of ₹60,000 in their bank account or a credit card and return ticket. First-time travelers from Tamil Nadu and Kerala are under scrutiny.
Want to buy split AC; which one should you go for inverter, or old style? Here's how they differ in overall cost and experience
Split AC: This summer which type of AC to buy? Inverter or old style split AC. Know how much money you need to spend on running it, repairing it, and others. However you will not be able to find any 5 star old style split AC anymore as the market is now dominated by inverter ACs.
Air India names Tata Projects' Sanjay Sharma as new CFO
Air India has named Sanjay Sharma as its new chief financial officer, succeeding Vinod Hejmadi who retired after a long tenure with the airline now owned by Tata. Sharma brings over 30 years of experience in Corporate Finance, Investment Banking, and Real Estate, having held key finance positions at Tata Projects Limited and other reputable organizations. He will report to Air India's CEO & MD, Campbell Wilson.
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.
Can the aviation sector clock 15% plus earnings trajectory? Icra’s Kinjal Shah answers
ICRA's Kinjal Shah discusses the stable cost environment in the aviation industry with a 14% YoY decline in fuel prices, leading to a decline in net loss. She highlights growth opportunities in the domestic aviation industry and the significance of international operations for carriers. Further Shah says: "We would see two years of 8% to 13% growth for the aviation passenger traffic in the domestic sector."
Best-Selling Split ACs in India of May 2024- Experience comfortable cooling with top-rated models
Choosing a Split AC is an ideal decision to maintain a comfortable and refreshing indoor atmosphere during the intense summer heat in India. Known for their remarkable energy efficiency and quiet performance, Split ACs provide a variety of features to accommodate different budgets. Furthermore, they are simple to install and upkeep, making them a convenient choice for any home. Explore this collection of popular Split ACs in India and select the perfect unit today to enjoy its effective cooling capabilities.
Best ACs under 30000 (May 2024): Top air conditioners for effective cooling this summer
Discover a curated selection of the best ACs under 30000, delivering efficient cooling solutions without breaking the bank. With a focus on affordability and performance, these AC units are ideal for keeping your space comfortable during the scorching summer months. Find the perfect balance of quality and cost-effectiveness to beat the heat this season.
A taste of Europe trip at half the cost: How to plan Kazakhstan or Georgia or Azerbaijan or Uzbekistan or Kyrgyzstan trip for Rs. 1 lakh
A clutch of countries in the south of Caucasus and Central Asia provide a whiff of Europe without snapping your budget. Within sniffing distance of Europe and straddling the Eurasian cusp, these are perfect destinations as they combine unsurpassed natural beauty with cultural overdose. Detailed budget and itinerary for Kazakhstan, Georgia, Azerbaijan, Uzbekistan and Kyrgyzstan trips this summer. Happy holidays!
IndiGo in long haul for bigger market share
The company’s international expansion will be gradual given that the aircraft delivery is expected in 2027. A critical question is whether the airline will be able to retain the advantage of a low-cost carrier once it expands in international markets, which would increase its operating costs.
Domestic air traffic touches new single-day high; crosses 4.71 lakh passengers
India's domestic air traffic reached a new single-day high of 4,71,751 passengers on Sunday, more than 14% higher than the average pre-Covid count of 3,98,579. The civil aviation ministry reported that domestic aviation is experiencing unprecedented growth due to policies, economic development, and low-cost carrier expansion.
Red Sea crisis reaches the skies: Indian businesses battle high air freight cost & cargo space shortage
The Houthi attacks on ships have forced many Indian businesses to turn to air cargo to move their goods. This rise in demand and limited capacity has made air freight more expensive, causing troubles on multiple fronts.
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.
The right bet: Rakesh Jhunjhunwala's dream is set to soar higher
Exiting 2023 with a fleet size of 22 aircraft, including 21 Boeing 737 MAX 8 and one Boeing 737 MAX 8 200, the first of its kind in Asia, Akasa Air is ready for its next phase of growth. It further fuelled its international flying ambitions when in January the new airline welcomed two Boeing 737 MAX 8 aircraft to its growing fleet. Since it started flying in 2022, Akasa has garnered a market share of 4 per cent as against another low-cost but much older airline SpiceJet's 5.6%.
SpiceJet-Credit Suisse Case: SC says no scope for belated payment, asks carrier to clear dues by March 15
The Supreme Court directed SpiceJet to clear all outstanding dues to Credit Suisse by March 15. The court had earlier granted SpiceJet six months to settle arrears with Credit Suisse. SpiceJet, facing financial challenges, has also bid for bankrupt carrier Go First. Ajay Singh, SpiceJet CMD, has been summoned to appear before the court on March 22
Delhi HC comes down heavily on SpiceJet, asks carrier to cough up $4 mn by Feb 15 on lessors' plea
The Delhi High Court has ordered SpiceJet to pay $4 million to its engine lessors, and the lessors have sought grounding of the aircraft. SpiceJet has returned three out of four engines and has raised funds through the Emergency Credit Line Guarantee Scheme (ECLGS). It informed the HC that they have received the first tranche of $90 million and the next tranche of $4 billion in cash will be received soon.
SpiceJet gets over Rs 900 cr funding; to focus on fleet upgradation, cost cutting measures
SpiceJet plans to focus on fleet upgradation and cost-cutting measures with the recent funding of over Rs 900 crore. The airline's bank balance now exceeds Rs 900 crore, including Rs 160 crore received from the government's Emergency Credit Line Guarantee Scheme. Chairman Ajay Singh has infused funds into the carrier, contributing Rs 200 crore out of the announced Rs 500 crore fund infusion.
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