Airlines Financial News

By David Shepardson

By Shivansh Tiwary

When Vladimir Putin came to power in 2000, the outside world viewed “Russian oligarchs” as men who whose vast wealth, ruthlessly amassed, made them almost shadow rulers

global aviation, industry group International Air Transport Association (IATA) said. Willie Walsh, director general of IATA said that due to investments made by the Indian government on airport infrastructure, the potential of growth from the Indian market has increased manifold. IATA counts more than 300 airlines as members. “I think India is the market for the future.

Microsoft's $69 billion deal to buy "Call of Duty" maker Activision Blizzard was legal under competition law, in their latest attempt to stop the deal. Microsoft closed the deal, originally proposed in January 2022 as the biggest acquisition in the history of the gaming industry, on Oct. 13 of this year after obtaining the approval of British regulators.

visa policies for nearby international destinations have fueled a surge in airfares, impacting travel choices. Popular and easily accessible destinations like Thailand, Sri Lanka, and Malaysia have become visa-free for Indian travelers, leading to a spike in demand and subsequently driving airfares to new highs. Almost all international airlines, with the exception of the United States, have fully resumed connections to India. Indian carriers have also increased flights abroad for the winter season, resulting in more competitive airfares to distant European and North American destinations. According to a TOI report, the Delhi-Phuket economy return this Christmas starts at Rs 50,000, significantly higher than the average of Rs 30,000 a few months ago. In contrast, Delhi-London flights begin at Rs 70,000, a notable reduction from the Rs 90-95,000 range seen during the summer. “In comparison to last year, all international airlines are now operational for routes like Delhi-Dubai, or Saudi and to London, hence airfares for these sectors are down by about 20-25%. On the other hand, airfares for popular Southeast Asian destinations like Vietnam, Thailand and Malaysia have more than doubled in comparison to last year for this period,” a spokesperson for travel portal Yatra told TOI. Anil Kalsi, Vice President of the Travel Agents Federation of India, told TOI that there is a «serious» demand for both domestic and international destinations this winter, with Southeast Asia being particularly popular. The visa-free status has made a significant impact, with destinations like Thailand witnessing a doubling of Indian tourist arrivals after granting visa exemption from November 10, 2023.

SpiceJet flight SG-15 made an emergency landing here around 9.30 pm on Tuesday and a passenger was given medical assistance. "The Boeing 737 aircraft was going from Ahmedabad to Dubai when a 27-year old passenger, Dharwal Darmesh, suffered a suspected heart attack and needed medical attention," a spokesperson of the Civil Aviation Authority (CAA) said here.

Air India formalised that order. This made IndiGo snatch that record, before it was formally created. Both events took place at the Paris Air Show in June this year.

Frontier Airlines has settled a lawsuit filed by female pilots who said the airline discriminated against pregnant and breastfeeding employees

Netflix India has partnered with nearly a dozen large brands for 'The Archies' movie, which releases on December 7, making it among the largest number of brand marketing collaborations for an over-the-top (OTT) film in India so far, said industry executives. Cosmetics maker Maybelline, cafe chain Starbucks, e-commerce platform Flipkart, consumer electronics brand BoAt, Vistara airline, VIP Skybags and Bombay Sweet Shop are among companies that have launched limited edition products or services to recreate the Riverdable vibe in the Zoya Akhtar-directed movie and cash on its pre-release hype. Shilpa Singh, senior director, marketing partnerships, APAC, Netflix, said: «By partnering with brands like Starbucks, Vistara, Maybelline, Skybags, and boAt, our aim is to marry the iconic elements from The Archies and the 60s era with brands of today.» She said the OTT platform is looking «beyond just showcasing». Executives said the partnerships reflect the coming of age for OTT-brand tie-ups in India and borrows from 'Barbie's' $150 million global marketing blitz. «After the success of global franchises like Barbie in India, we have Archies which is equally high on aspiration.

BOSTON (Reuters) — A lawyer for JetBlue Airways (NASDAQ:JBLU) on Tuesday urged a federal judge to allow it to proceed with its planned $3.8 billion acquisition of Spirit Airlines (NYSE:SAVE) and reject the U.S. Department of Justice's (DOJ) bid to block the deal.

Delhi High Court Tuesday asked the Resolution Professional (RP) of crisis-hit Go First to file an affidavit on a plea by a lessor seeking contempt action against him for allegedly not complying with the court order to allow inspection and maintenance of aircraft. Justice Tara Vitasta Ganju made it clear that the orders of the court are required to be complied with in letter and spirit failing which further orders would need to be passed. The high court said the main assets in this case are the aircraft, and if they are not maintained, it is a problem and detriment to everybody.

Chennai was ravaged by the worst rains in 80 years and Cyclone Michaung raged over Andhra Pradesh.Market leader IndiGo cancelled 550 flights, an executive said. A spokesperson for Air India said it cancelled 53 flights. SpiceJet cancelled 28 and Vistara cancelled 14, executives said. “In light of the cyclonic storm and heavy rains in Chennai, flight operations came to a halt on 4th December 2023.

Air India subsidiary Air India Express on Tuesday announced the introduction of Vista VIP fares, with spacious seats with extra legroom on routes operated by the airline's latest addition to its fleet, Boeing 737-8 aircraft. Guests booking Vista VIP fares will enjoy spacious seats with extra legroom, an increased baggage allowance of 40 Kg on international flights and 25 Kg on domestic flights, Gourmair hot meals, and the convenience of Xpress Ahead priority services, said the airline in a press release. Vista VIP fares are now available for booking on Air India Express's app and website, as well as other major booking channels. Additionally, guests booked on other fares have the flexibility to upgrade to Vista VIP seats through the call centre, at the airport, or once on board with an upgrade fee. Air India Express took the delivery of its first two new Boeing 737 MAX-8 aircraft at the Boeing facility in Washington, USA in September.

HCL Tech: HCL Investments UK, the step-down wholly-owned subsidiary of HCL Technologies, has signed a Memorandum of Understanding with its joint venture partner, State Street International Holdings, for selling the entire 49% equity stake in the JV to State Street for $170 million, plus net book value. JSW Infra: JSW Infrastructure, part of the JSW Group, has acquired a stake in PNP Maritime Services (PNP Port) in Maharashtra's Raigad through its subsidiary, JSW Dharamtar Port. The estimated enterprise value of PNP Port is around ₹700 crore.

DUBLIN (Reuters) — The head of the world's second largest aircraft leasing company SMBC Aviation Capital expects a shortage of new aircraft to continue until at least 2026 and possibly beyond.

(Reuters) — Shares of Hawaiian Holdings (NASDAQ:HA), the parent of Hawaiian Airlines, nearly tripled in premarket trade on Monday after Alaska Air (NYSE:ALK) Group agreed to acquire it for $1.9 billion, including debt.

Willis Lease Finance Corporation against budget airline SpiceJet. Willis Lease Finance Corporation had filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, against SpiceJet for default of $6.58 million or Rs 53.96 crore for 107 invoices for 11 engines leased by four separate entities in April. SpiceJet had argued that the petition filed by Willis Lease Finance Corporation was not maintainable as it was neither the operational creditor nor an assignee of the debt from the four-engine lessors.

NEW DELHI : In some relief for SpiceJet, the National Company Law Tribunal on Monday dismissed a plea by aircraft lessor Willis Lease Finance Corp. to initiate insolvency proceedings against the cash-strapped airline. But apart from Willis Lease Finance, three other lessors—Celestial Aviation, Wilmington Trust, and Aircastle Ltd—have similar pleas pending with NCLT to admit SpiceJet into insolvency over unpaid dues.

Cyclone Michaung: The severe cyclonic storm Michaung is causing intense rains in Chennai with daily life thrown out of the gear due to the heavy downpour. Amid the strong winds and intense spell of rain, the administration has decided to keep the Chennai airport closed till 11:30 PM on Monday. Cyclone Michaung also led to disruption of several flights with 10 flights being cancelled while 20 flights being delayed due to heavy rains since midnight.

Alaska Air Group has agreed to buy Hawaiian Airlines in a $1.9 billion deal including debt