Airlines Financial News

Also Read: Charter aircraft skids off runway at Mumbai airport, delays 40 flights Manaus Aerotaxi airline has released a statement acknowledging the occurrence of an accident and confirming an ongoing investigation. However, the statement did not provide any specific information regarding casualties or injuries.

SAO PAULO (Reuters) -A plane crash in Brazil's northern Amazon (NASDAQ:AMZN) state on Saturday has left 14 dead, the state's governor said.

By Davit Kirakosyan

Akasa Air has moved court against 43 pilots claiming that they have quit the airline without completing a notice period of six months. The airline in a petition filed with Bombay High Court has sought that pilots be barred joining any airline till the time they complete the mandatory notice period, which was part of employment agreement. In its petition, the airline also said that due to sudden resignation of the pilots, it was forced to cancel multiple flights, causing financial and reputational loss to the airline and has sought monetary compensation of Rs 21 crore, which includes cost of training one pilot, according to a petition reviewed by ET. The airline which started business last year and was rapidly expanding lost 1% market share due to cancellation of over 632 flights in August. “We have sought legal remedy only against a small set of pilots who abandoned their duties and left without serving their mandatory contractual notice period. This is illegal in law but also an unethical and selfish act that disrupted flights in August forcing last minute cancellations that stranded thousands of customers causing significant inconvenience to the travelling public,” an Akasa spokesperson said. Pilots who have quit the airline said that the airline violated contractual agreement by altering salary structure.

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Qantas allowed its chief executive Alan Joyce to sell $17 million in shares despite receiving a detailed demand for information as part of the competition regulator’s investigation into whether the airline inappropriately sold thousands of flight tickets.

SpiceJet on Friday claimed in the bankruptcy court that two insolvency petitions filed against it by two aircraft lessors — Wilmington Trust SP Services (Dublin) Ltd and Celestial Aviation Services Ltd — were not maintainable. The low-cost airline informed the National Company Law Tribunal that Wilmington was not the owner of the aircraft leased by it and so it is not an operational creditor to file an insolvency petition. Opposing the Celestial Aviation case, SpiceJet argued that five operational creditors had filed a combined petition, so it was not maintainable. In the Wilmington case, SpiceJet claimed that the owner of the aircraft was BOC Aviation Ltd, which had transferred the ownership to Aircaste (Ireland) Ltd and.

Flying rights are allocated on a bilateral reciprocal basis by the government to airlines of their country. Airlines cannot operate more flights than they are allotted.

Vistara will start direct flights between the national capital and Hong Kong from October 29.

Zexus Air Services, which was operating the now grounded carrier Zoom Air, on Friday said its flying permit has been renewed by aviation regulator DGCA. After launching operations in February 2017 with a CRJ aircraft, the Gurugram-based airline shut down operations in 2020, and subsequently its flying permit was suspended. The renewal of the air operator certificate will help the grounded domestic airline to take wings again. "Zooom Airlines (earlier Zoom Airlines) has received the official clearance to commence commercial passenger operations in India...the airline received its Air Operator Certificate (AOC) from the DGCA," Zexus Air Services Pvt Ltd said in a statement on Friday. The AOC was renewed on September 14 and it would remain valid till September 3, 2024, a source in the know said.

Air India has introduced a tool in its rostering system that will help in mitigating fatigue among pilots as well as put in place various initiatives to ensure the stability of rosters and minimise disruptions. These moves by the Tata Group-owned full-service carrier also come at a time when there are rising concerns in certain quarters about fatigue among pilots and ways to deal with the issue amid rising air traffic and flights. In his weekly message to the employees on Friday, Air India chief Campbell Wilson said the airline has introduced several new initiatives in tandem that seek to increase the stability of printed rosters and minimise disruptions, utilise standby blocks optimally, and set up efficient communications channels. Mentioning about the safety protocols being introduced in all aspects of the airline's operations, Wilson said, «We launched Coruson a few weeks ago, which was followed by the Boeing Alertness Model (BAM)3, the fatigue mitigating tool in our Jeppesen rostering system, that will prevent publishing fatiguing rosters and pairings». During a Jeppesen Crew Ambassadors' session on Thursday, Wilson said there were detailed discussions as well as questions on pairings/rostering, fairness, crew welfare and admin processes.

New Delhi: Zooom Airlines, earlier called Zoom Air, has revived air operator certificate from the Indian civil aviation regulator Directorate General of Civil Aviation to commence flight operations in India, the airline said on Friday. "With our AOC in hand, we look forward to providing passengers with a top-notch travel experience that combines convenience, efficiency, and comfort," Zooom Airlines chief executive officer Atul Gambhir said in a statement. Zoom Air was established as Zexus Air in April 2013 and the airline had taken delivery of its first aircraft, a Bombardier CRJ200.

Spicejet, on Thursday, argued that the insolvency petition filed by aircraft lessor Wilmington Trust SP Services (Dublin) Limited was not maintainable, questioning the company’s locus standi to file an insolvency petition. In another case listed before the National Company Law Tribunal, Spicejet argued that the insolvency petition filed under Section 10 of the Insolvency and Bankruptcy Code, 2016, by Celestial Aviation Services Ltd, wasn’t maintainable either. The low-cost airline informed the National Company Law Tribunal that the owner in Wilmington’s case was not the company that had filed the petition but BOC Aviation Ltd, which had transferred it to Aircaste (Ireland) Ltd and, thus, the petitioner could not be the operational creditor. “He’s not the owner of the aircraft, so in what capacity does he become the operational creditor,” senior counsel representing Spicejet stated. “Trustee is only entrusted with the property and cannot become the owner of the property,” he further said, referring to the invoices, where the account was also in Aircastle (Ireland) Ltd’s, earlier referred to as Klaatu Aircraft Leasing (Ireland) Limited, name.

United Airlines flight en route from Newark to Rome experienced a sudden descent of 28,000 feet in just 10 minutes due to a cabin pressure issue. The Boeing 777 plane, Flight 510, was carrying 270 passengers and 14 crew members when the incident occurred.

BERLIN (Reuters) — European Union quotas for sustainable aviation fuels (SAF), seen as an expensive but essential key to greener air travel, are not achievable by today's standards, according to the chief executive of Germany's Lufthansa .

Federal Energy Minister Chris Bowen says electric planes will be in the skies and a green hydrogen industry will be up and running by the end of the decade, as Australia charts its course to net zero carbon emissions by 2050.

SpiceJet today said they have completed payment of $1.5 million payment to Credit Suisse, days after India's apex court came down heavily on the budget carrier's chairman Ajay Singh to make the payment or go to Tihar jail. «SpiceJet Ltd. has complied with the directive of the Supreme Court by remitting $1.5 million to Credit Suisse.

Transport Minister Catherine King has refused to provide documents explaining her decision to deny Qatar Airways additional landing rights to the Senate, citing public interest immunity.

Qantas will need to think carefully how it balances its social obligations with its cost rationalisation program, but it is not prevented from continuing to outsource workers after the High Court denied its appeal, a leading academic says.

Incoming Reserve Bank governor Michele Bullock has updated her register of personal interests after failing for more than a year to declare she was a member of the exclusive Qantas Chairman’s Lounge.

NEW DELHI : As online travel agency Yatra Online Ltd’s IPO will open for subscriptions this Friday, its co-founder and CEO, Dhruv Shringi, in an exclusive conversation with Mint, said there are strong tailwinds behind the business, and this is the right time to list. The company plans to use ₹150 crore from the IPO proceeds for strategic investments, acquisitions, and inorganic growth, while ₹392 crore could be used for investments in customer acquisition and retention, technology, and organic growth initiatives. The company’s IPO will be priced at ₹135-142 per share.