LOW COST CARRIERS
SpiceJet Results: Budget carrier posts Rs 127 crore profit in Q4 versus loss a year ago
Despite earlier financial difficulties and a ransomware attack delaying results, SpiceJet reported a 19% year-on-year decrease in consolidated revenue to Rs 1,738 crore for the fourth quarter. However, on a standalone basis, the airline saw a sixfold increase in net profit to Rs 119 crore, with standalone EBITDA rising 12% to Rs 386 crore.
Higher costs and low base fares send Delta's profit down 29%. The airline still earned $1.31 billion
Americans are traveling in record numbers this summer, but Delta Air Lines saw second-quarter profit drop 29% due to higher costs and discounting of base-level fares across the industry.
Air India-Vistara Merger: Tata gets a key task done to move towards merging four airlines into two
Tata Group has moved a step closer to merging four airlines into two, simplifying its aviation business. Harmonizing procedures and manuals across carriers, with support from Ministry of Civil Aviation. DGCA guidance aids safety-first approach. Air India and Vistara seek DGCA approval to accelerate merger, minimizing training requirements. Tata Group aims to enhance efficiencies, leverage synergies, and reduce losses.
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.
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.
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.
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.
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.
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.
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%.
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