Airlines Financial News

Civil Aviation Ministry has discussions with airlines over the airfares and these were advised to self-regulate and keep passengers' interest in mind while fixing the fares. After deregulation of the aviation sector decades ago, the Indian government does not regulate airfares. The fares, Scindia explained, are also dependent on a number of factors such as the number of seats already sold on a particular flight, prevailing fuel price, capacity of the aircraft operating on the route, competition on the sector, season, value of INR against US dollar, holidays, festivals, long weekends, special events (sports, fairs, contests) etc. That's true of the airlines in India as well as elsewhere, but India's aviation sector has a peculiar problem — a strengthening duopoly — which does not augur well for fares, quality of services or punctuality. Many have linked recent incidents of delays and flight disruptions to the duopolistic nature of the market. A big chunk of India's aviation market is owned by just two airlines. Historically, due to various factors, the Indian aviation market has proved to be a graveyard of airlines. Very few have remained afloat beyond five years. The latest to nosedive was Go First which was grounded in May.

Infosys: India's second-largest IT services company on Monday said Nilanjan Roy, its chief financial officer has tendered his resignation. Jayesh Sanghrajka, a member within the company, will be taking over the role. Roy chose to resign to pursue personal ambitions beyond the scope of the company.

Boeing is promoting a woman to one of its top jobs, putting her in the discussion about possible successors to current CEO David Calhoun

credit cards, debit cards and prepaid travel cards, found a survey conducted by card payment major Visa. The survey also found that around 10-12% of the respondents still use currency exchange, which means while using their cards they use cash too.

NEW DELHI : The holiday season is about to start and many people have already planned their exotic vacations. Many dip into their savings, others have a systematic investment plan in place for such holidays and a few use travel credit cards. These cards are largely a premium product in India–high annual fee, and even higher income threshold for eligibility but the rewards truly unlock if you spend ₹6 lakh and above annually with the card.

Airports and highways are expected to be busier this Christmas season than they were a year ago

Establishing credit: Ensuring timely payments with your credit card stands as one of the most effective methods to cultivate a favourable credit score. This practice can lead to cost savings on loans, insurance, and potentially even future rent. Timely credit card payments play a pivotal role in constructing a positive credit score, unlocking a realm of financial advantages.

Delhi airport's Eastern Cross Taxiways that help reduce taxiing time as well as fuel consumption by aircraft, according to a top official. The Indira Gandhi International Airport (IGIA) in the national capital, operated by DIAL (Delhi International Airport Ltd), handles up to 1,500 aircraft movements daily. In a recent interview, DIAL CEO Videh Kumar Jaipuriar said assuming 10-15 per cent of aircraft use the Eastern Cross Taxiways (ECT), it is expected that there would be saving of around 55,000 tonnes of carbon dioxide.

₹1,923. The airline specifies that the sale applies to one-way travel in Economy, Premium Economy, and Business Class on direct flights within India.

By Lisa Baertlein

rival brand when you are an airline CEO? It’s just another day of boarding the flight for AirAsia CEO Tony Fernandes. Taking to Instagram, the entrepreneur revealed that he was unable to book a seat in AirAsia, and so opted to fly with Singapore Airlines flight. Sharing a picture of his seat inside the plane, Fernandes wrote, “No seat on @flyairasia for three flights so had to take @singaporeair.

Zomato: Svf Growth (Singapore) Pte, part of Japan’s SoftBank Group, will sell a 1.1% stake in food-delivery company Zomato Ltd Friday for an estimated ₹1,127.5 crore, or $135 million, as per the term sheet of the block deal. The floor price of the deal is set at ₹120.5 per share, a discount of about 1.1% to Zomato’s Thursday closing price of ₹121.80 on the BSE.

An Oregon judge says an ex-Alaska Airlines pilot accused of trying to cut the engines of a passenger flight can be released from jail pending trial

₹5 crore or more. Stock markets have seen a remarkable rally this week with investors gaining over ₹11 trillion in just four trading sessions in December. Over 37% of the MLAs elected in the just-concluded assembly elections in five states declared at least one criminal case against them, an analysis of data compiled by the Association for Democratic Reforms (ADR) showed.

(Reuters) -JetBlue Airways on Thursday narrowed its annual adjusted loss forecast, riding on strong demand for travel during the holiday period and sending its shares 12% higher in morning trading.

By Khushi Singh and Ankika Biswas

SpiceJet shares were locked in the 20% upper circuit limit at ₹52.29 apiece in today's trade. This is also the stock's new 52-week high. The significant uptick was driven by the company's announcement of plans to raise fresh funds to settle its dues.

Civil Aviation Minister Jyotiraditya Scindia on Thursday said the number of air passengers has gone up from six crore in 2014 to 14.5 crore at present and added that airfares are competitive with the railway AC first class fares. The minister was asked about rising airfares during the Question Hour in the Lok Sabha. Scindia said that the civil aviation sector is a deregulated sector and despite the impact of the COVID-19 pandemic and rising jet fuel cost, airfares have not increased in the same proportion.

Shares have fallen in Asia after a retreat on Wall Street as crude oil prices slipped on expectations that supply might outpace demand

By David Shepardson

Air India, which placed a 250-aircraft order with Airbus earlier this year, has rejigged the order, which will now have more number of A321neo aircraft, according to sources. As part of the 250 aircraft order with Airbus, the airline was to acquire 210 narrowbody A320 family planes, comprising 140 A320neo and 70 A321neo and remaining 40 widebody A350s, consisting of six A350-900 and 34 A350-1000s.