Airlines Financial News

New Delhi: The Delhi high court on Wednesday issued notice to the resolution professional of Go First and the Director General of Civil Aviation (DGCA) on a plea filed by the airline's aircraft lessor BOC Aviation (Ireland) Ltd. The lessor sought further direction from the court on the inspection report submitted by them in the court. The court also noted that assets are valuable and “can't go like that".

IndiGo will soon wear a wrist gadget and use a ground device to detect fatigue and check their alertness level before and after their flights. The airline will start this experiment in collaboration with French aerospace conglomerate Thales group to collect data and use it to make flight patterns and roster which are reduces tiredness of their pilots, The airline will also on board a sleep researcher who will work on its fatigue management system, according to an internal memo reviewed by ET. “After six years of research, they have developed a fatigue detection model, offering detailed insights into demographic data, including routes, pairings, crew profiles, and more, going beyond traditional scheduling- models. “IndiGo will conduct a proof-of-concept trial for their technology-driven interface to assess pilot alertness levels over the next few months. Once completed, we will collectively evaluate the efficacy and accuracy of the data,” Ashim Mitra, senior vice president of Flight Operations wrote in a note to pilots. However IndiGo will continue the existing system where pilots can ask for removal from duty when they feel tired. Initially, the ground devices will be set up at large bases of IndiGo like Delhi, Mumbai, Bengaluru and Chennai where pilots will undergo a five minutes test.

South Australian Premier Peter Malinauskas says it is a “disappointing state of play” that Qantas has not operated international flights out of Adelaide for 10 years, and to uphold its status as a national carrier it should reinstate them.

Wipro: Wipro Holdings (UK) has completed the transfer of its entire shareholding in Wipro 4C NV to Wipro IT Services UK Societas, with the effective date being September 12. Both Wipro Holdings (UK) and Wipro IT Services UK Societas are wholly-owned subsidiaries of the company, while Wipro 4C NV operates as a step-down subsidiary.

Qantas has lost its battle to overturn a Federal Court ruling that it illegally sacked nearly 1700 workers during the pandemic, with the full bench of the High Court dismissing its appeal.

The High Court of Australia will on Wednesday morning decide whether Qantas illegally sacked nearly 1700 ground staff during the pandemic. Employers across the country will be watching the ruling closely.

Ryanair Holdings chief executive officer Michael O’Leary blasted Italy’s new cap on airfares as “illegal” and impossible to comprehend, threatening to scale back some of the discount carrier’s flights on popular domestic routes if the government holds onto the measure.

₹100 crore to Sun Group chairman and former promoter of the airline Kalanithi Maran, according to the direction of the Delhi high court on the arbitral award. On Monday, the airline paid ₹77.5 crore and committed to clear the remaining amount of ₹22.5 crore within a day, as the counsel appearing for Maran refused to accept a cheque that was submitted in the HC, and instead requested SpiceJet to transfer the amount via RTGS. On 24 August the Delhi high court had ordered SpiceJet to pay ₹100 crore as part of the arbitration award to Maran by 10 September.

Discussions of work-life balance have permeated many corporate workplaces over the past few years. Now, they are hitting the auto-factory floor. The United Auto Workers union, which is threatening to strike Friday if it can’t reach new labor deals with the Detroit automakers, is pressing for a number of items that are less about pay and more about improving the quality of life for assembly-line workers.

By Rajesh Kumar Singh, Abhijith Ganapavaram and Valerie Insinna

MONTREAL — Passengers aren’t the only ones feeling cramped these days.

(Reuters) — A tight U.S. labor market, expiration of cyclical contracts and high living costs have triggered tough negotiations for pay hikes and other benefits by workers and strikes and protests across industries.

(Reuters) — Passenger traffic at Spain's Aena airports exceeded pre-pandemic levels for an eighth consecutive month in August, while traffic in other European terminals still lagged.

Go First, on Tuesday, told the National Company Law Tribunal that their assets were not covered under moratorium, as they had terminated their leases before the airline was admitted for insolvency. Go First's engine lessors argued that even in the reply filed by Go First’s resolution professional, no questions were raised on the grounds of termination and the legal possession of engines should be given back to lessors. The senior counsel, representing Go First’s RP, in turn, noted that the fundamental question to answer was why the lease agreements were terminated one or two days after the petition of voluntary insolvency under Section 10 of the Insolvency and Bankruptcy Code, 2016, was filed by the airline. The termination was “on the grounds of insolvency, but not on the grounds of payments,” he further stated, pointing out that if the airline had failed to pay dues, then why was termination initiated two or three days after the filing of Section 10 petition. The Wadia group-owned airline had filed for voluntary insolvency on May 2, which was admitted on May 10, placing a moratorium on assets. The NCLT heard the arguments of two engine lessors, who are not party to the cases going on in the High. SMBC Aero Engine Lease BV, which had leased five engines to the beleaguered airline, informed the tribunal that once the default occurred, a lease payment deferral agreement was signed in December 2020. The lessor sent a demand notice on March 17, 2023, whereas the termination was done on May 4, six days before the company was admitted to insolvency. The other engine lessor, Engine Lease Finance BV, also argued on similar grounds with respect to four of its engines leased to the airline. The counsel for engine lessor ELFBV

₹100 crore to Sun Group chairman Kalanithi Maran as per the Delhi High Court's order regarding the execution of an arbitral award. On Monday, SpiceJet had presented a cheque for ₹37.5 crore to Maran in court. However, Maran's counsel had declined it and requested SpiceJet to make a bank transfer.

₹100 crore to Kalanithi Maran as per the Delhi High Court's directive, resolving a long-standing dispute between the airline and its former promoter. The Supreme Court on Monday sternly ordered the SpiceJet chairman Ajay Singh to make a payment of $500,000 towards a Credit Suisse installment by September 22 and an additional $1 million for a defaulted amount. In case, the company fails to make the payment there will be ‘drastic action’, hinting that he might face imprisonment at Tihar jail.

IndiGo is looking to induct up to 22 aircraft from the secondary lease market as it faces grounding of several Airbus A320 Neo aircraft powered by Pratt & Whitney engines. Over 1,000 P&W engines will need to be inspected after the manufacturer found that contamination of powder metal defects could lead to the cracking of some engine components. US-based aerospace major RTX which manufactures the P&W engines on Monday said that it will have to recall 600-700 engines from 2023 to 2026, leading to the grounding of an average 350 aircraft a year. IndiGo with 135 planes has the largest potentially affected fleet.

Several major Japanese companies have decided to stop using stars represented by Johnny & Associates, an entertainment company at the center of a sexual assault scandal

Joe Biden's visit to Vietnam weighed in at over 2,600 words. The section on human rights contained just 112 words, including a sub-heading. From business and strategic perspectives, Biden's visit to Vietnam on Sunday and Monday, and also to India late last week, will likely be seen as bolstering ties with countries that can help Washington counter China's growing might. But for rights advocates, Biden's travels were a disappointment, given his administration's vow to prioritize human rights when taking office in 2021. In Hanoi, Biden said the U.S.

JetBlue Airways is making another move to try to save its proposed purchase of Spirit Airlines

A broken pin might have caused a landing gear failure that left an Alaska Airlines jet resting on one of its engines last month