Airlines Financial News

Qantas chairman Richard Goyder and new chief executive Vanessa Hudson will front up at a Senate inquiry into aviation landing rights on Wednesday but former boss Alan Joyce will not appear until he returns from overseas.

Pieter Elbers, CEO, IndiGo, tells ET Now about the airline's plans going forward. Edited excerpts:ET Now: Give us an idea of the airline's expansion strategy...Pieter Elbers: Over the past five-six weeks we have added new flights from Mumbai, we have started operations from Mumbai to Nairobi. We have started Mumbai to Jakarta and as recently as this weekend we have launched flights from Delhi to Tashkent and Almaty. So we have expanded from a little over 20 destinations to 32 now.

STOCKHOLM (Reuters) -Scandinavian airline SAS said on Tuesday it was evaluating final bids in an equity fundraising that closed a day earlier, and which is part of an ongoing bankruptcy protection process.

IndiGo CEO Pieter Elbers to ET Now after the Aviation Working Group (AWG) for the second time cut India's compliance rating with international leasing laws and kept the country on a watchlist with a negative outlook amid a dispute between local airline Go First and its aircraft lessors. The move by AWG, a UK-based entity that monitors leasing and financing laws, came as bankrupt budget carrier Go First is locked in a legal tussle with aircraft lessors seeking to repossess jets. The IndiGo CEO called India as one of the most competitive aviation markets in the world and said there is also a lot of competition in the market. Elbers was speaking at the conference of the All India Management Association (AIMA) in the national capital. IndiGo is the country's largest carrier with a domestic market share of more than 63 per cent and is also expanding its international operations. The airline connects 32 international and 81 domestic destinations. Elbers said India is an incredible and one of the most competitive aviation markets in the world. IndiGo is going through a «maturing phase», he said and stressed on the need for having aviation hubs in India, which is under-served.

By Gavin Jones and Valentina Za

New Delhi: The Tata group acquired Air India and its low-fare unit Air India Express in January 2022 under a government-led strategic divestment programme. Later that year, the Tata group announced a merger between Air India and Vistara, and between Air India Express and AirAsia India. The two mergers are currently underway.

Air India is contemplating a change in the uniforms of its female cabin crew. For the last 60 years, flight attendants have donned sarees, a traditional Indian outfit. However, the national carrier may soon opt for modern attire, abandoning the saree, a source within the airline has revealed to the Hindustan Times.

Qantas shares fell on Tuesday after brokers began downgrading the stock, concerned higher spending on repairing its relationship with customers and higher fuel expenses will end a run of higher profits.

SYDNEY (Reuters) — A union for pilots employed by Australia's Qantas Airways called for the company's chairman to resign following a host of scandals that have drawn fierce criticism from travellers, regulators, lawmakers and its own employees.

Also Read: Bengaluru Bandh news LIVE Updates: Schools, colleges shut, section 144 imposed, airlines issue travel advisory What is the CWMA order? The CWMA's directive mandated Karnataka to maintain the discharge of 5,000 cusecs of water to Tamil Nadu for an additional 15 days. However, officials have stated that there is an insufficient water supply available for this release.

Check all LIVE Updates on Bengaluru Bandh hereAccording to BMTC, all routes of Bengaluru Metropolitan Transport Corporation will be operational as usual, news agency ANI has reportedKarnataka Chief Minister Siddaramaiah Monday said his government will not curtail the “Bengaluru bandh" called by some farmers' organisations on Tuesday as protests over the release of Cauvery river water to Tamil Nadu have intensified. The directive from the Cauvery Water Management Authority (CWMA) instructed Karnataka to extend the release of 5,000 cusecs of water to Tamil Nadu for an additional 15 days.

India's compliance rating with international leasing laws and kept the country on a watchlist with a negative outlook amid a dispute between local airline Go First and its aircraft lessors. The move by the Aviation Working Group (AWG), a UK-based entity that monitors leasing and financing laws, comes as bankrupt budget carrier Go First is locked in a legal tussle with aircraft lessors seeking to repossess jets. The courtroom battle started after Go First was granted bankruptcy protection in May. Under Indian law, that prevented lessors from recovering 50-plus grounded Airbus planes.

(Reuters) — American Airlines (NASDAQ:AAL) on Monday appealed a U.S. court decision requiring it to end an alliance with JetBlue Airways (NASDAQ:JBLU).

Campbell Wilson took up what is arguably the toughest job in aviation as the chief executive officer and managing director of Air India. Sitting in the swanky new headquarters, a sign of shedding its erstwhile government identity, Wilson says a lot has been achieved but with multiple legacy issues, it will take time to build a completely new Air India. Edited excerpts from an interview with Arindam Majumder & Vinay Pandey.More than a year into the corner room. How much has been done? It's a five-year transformation programme and the first phase was largely focused on trying to address many of the accumulated issues of the past.

PARIS (Reuters) — Air France-KLM said on Monday it plans to order 50 Airbus A350 long-haul jets, together with purchase rights for an additional 40 aircraft.

United Auto Workers President Shawn Fain has criticized the Big Three automakers for the raises given to their CEOs in the past few years, saying wage gains for rank-and-file employees haven’t kept pace. By one measure—the ratio of the CEO’s pay to the median worker’s—automakers have a wider pay gap than most large companies. And over the past four years, the gap at the three has widened.

A string of inflationary shocks has challenged the Federal Reserve’s effort to control price increases. Investors are worried the latest could be $100-a-barrel oil. Crude’s march closer to that mark has made Americans’ commutes more expensive.

Canberra Airport boss Stephen Byron has called on Qantas to give a free flight to every passenger on the Canberra-Sydney route who has been stuck on the tarmac after the airline’s monthly cancellations hit a record high of almost 15 per cent.

Virgin Australia says the federal government’s “hard to understand” decision not to allow Qatar Airways to fly more services into Australia has undermined its ability to compete with Qantas.

Qantas says it will spend at least an additional $80 million fixing services issues at the same time that fuel costs have risen $200 million, the first hit to profits as it attempts to repair its deteriorating relationship with customers.

MUMBAI : Akasa Air, India’s newest airline, is considering raising as much as $400 million, valuing the carrier at $1 billion, two people familiar with the development said. However, this could lead to a dilution of the stake held by the family of late billionaire investor Rakesh Jhunjhunwala, they said. “The fundraising will be done in multiple tranches, with an increasing valuation of up to $1 billion from around $650 million now.