Airlines Financial News

Qantas’ investments in its fleet have been made at “a significant cost” and the aviation industry is still struggling to bring back capacity, meaning the government must prioritise protecting aviation jobs over its obligations to consumers, the transport minister says.

International Trade Administration. Hotels and airlines say they also have noticed occasional drops in demand. “I’m kind of Mexico-ed out," says Khayla Morris, a 28-year-old content creator from Charlotte, N.C.

IndiGo Airlines' promoter Gangwal family is all set to sell its shares worth ₹3,730 crore through a block deal on 16 August, reported ET citing the term sheet. According to the report, the family has put 15.6 million shares on the block with a floor price of ₹2,400 per share, which is a 5.8 percent discount to the closing price of Monday. The deal's lenders are Morgan Stanley, JPMorgan, and Goldman Sachs.

AP citing the police, Arif became disruptive and claimed to have explosives on board. He was charged with making a false statement about a threat to damage an aircraft and failing to comply with the cabin crew’s safety instructions, said the report. If proven guilty, Arif may have to serve upto 10 years in jail and pay a fine of more than 15,000 Australian dollars ($7,300).

The White House is taking on “junk fees,” those extra charges tacked on to plane tickets, hotel rooms, hospital bills and more

Federal officials are looking into another close call between planes, this time in San Diego

Exporters as well as travellers would benefit from expanding flights to Australia, especially from the Asia-Pacific and the Middle East, Melbourne Airport’s chief executive said.

NEW DELHI : Budget carrier SpiceJet on Monday reported a net profit of ₹205 crore in the June quarter, buoyed by continued strong demand for air travel. The Gurugram-based airline had reported a net loss of ₹789 crore a year earlier. Total income fell 8.4% to ₹2,267 crore in the quarter while total expenses decreased by 36% to ₹2,069 crore.

Mint that the airline’s RP Shailendra Ajmera was asked by the Committee of Creditors (CoC) to approach banks with a revival plan and raise funds amounting to ₹450 crore. The CoC had also approved that the RP-led management can also approach the banks, who are part of the committee. Ajmera, however, has not been able to raise funds despite approvals from the aviation regulator Directorate General of Civil Aviation due to a Delhi high court order that gives lessors permission to inspect the aircraft.

Abu Dhabi Department of Culture and Tourism has reduced government fees applied to hotel rooms and restaurant in the emirate. The revised fee structure will come into effect from 1 September 2023 . «This revision of fees seeks to further grow the emirate as a tourism and cultural destination while bolstering support for its thriving hospitality sector,» the Department of Culture and Tourism – Abu Dhabi, said in a statement.

Boeing (NYSE:BA) is the front-runner to book an order for approximately 25 wide-body planes from IndiGo (NS:INGL), Reuters said in a report Monday.

Rakesh Kumar Rana, Head — Hotels, Partnership & Affiliate Business, Yatra, says as a golden principle I would suggest that one should book air tickets well in advance and with hotels please keep an eye for deals which are coming for early bookers as well as for last-minute bookers. If you follow that, travellers would be able to save a significant amount.You have been heading the hotel business at Yatra and you have all the data with you. I know that you are based out of Delhi but looking at the trends across India, start telling us which are some of the hot destinations that people have planned to go to this long weekend.Yes, the 15th August long weekend, which is a five day long weekend, is one of the biggest ones this year.

Mount Etna. The volcano's ash plume has spread across the eastern part of the island, causing significant disruptions to air travel and affecting key airports.

₹205 crore compared to ₹17 crore for the March quarter, results for which were also announced on Monday. However, a reduction in fleet size caused a decline in operating revenues both year-on-year and sequentially. “Passenger volume, too, has reduced by 31% year-on-year, which took a toll on total revenues.

By Aditi Shah

The Jalan-Kalrock Consortium has successfully obta... moreThe Jalan-Kalrock Consortium has successfully obtained the renewal of the Air Operator Certificate (AOC) for Jet Airways from the Directorate General of Civil Aviation (DGCA).

airport during specific hours in the morning and evening on August 15, official said as reported by news agency PTI. However, there will be no impact on movement of scheduled flights on 15th August at the airport.

Passengers of a Florida-bound American Airlines flight were left 'terrified' on Thursday as the aircraft dropped thousands of feet within a couple of minutes. The incident took place halfway through the 1.5 hour trip, with passengers recalling a ‘loud bang’ and ‘burning smell’ wafting through the cabin. “Something failed midflight and depressurized the cabin.

Deutsche Bank has settled the loans it extended to Go Airlines out of court with its promoters Wadia Group, people aware of the development said. Go Airlines, which operated Go First Airlines, is undergoing voluntary liquidation. Last week, Deutsche Bank conveyed to its resolution professional Shailendra Ajmera and lenders that it wants to relinquish itself as a member of the committee of creditors (CoC) since it has separately settled its debt with the promoter, people cited above said. Exit of the German bank will not have any impact on the debt resolution or recovery of dues, a senior consultant told ET. The RP, backed by EY, recently extended the date to submit expressions of interest from potential bidders for the distressed airline by a month to September 8. A Go First spokesperson in a statement said, “We are not aware of settlement of any such loan. However, Britannia Industries is no way involved with Go First directly or indirectly for any loans provided.” Deutsche Bank and Ajmera declined to comment. According to the initial list of claims filed by creditors on June 8, Deutsche Bank had filed Rs 1,365 crore-claims which were classified as unsecured creditors.

Go First has sought an urgent funding of Rs 100 crore from the distressed airline’s lenders to keep it afloat by meeting its mandatory liabilities such as insurance, people aware of the matter told ET. This emergency funding will be used for critical expenses such as insurance and repairs, RP Shailendra Ajmera, backed by EY, told lenders in the creditors’ committee. “The funds are required to cover critical expenses such as insurance and repairs, essential to sustain operations,” one of the sources said. “The RP has requested banks for funds based on their voting share within the CoC.” This comes after the Supreme Court on August 7 dismissed Go First’s plea against a Delhi High Court order permitting lessors to examine their aircraft. The request for emergency funding has gone to the corporate office of the Central Bank of India and Bank of Baroda and a decision is likely in the next day or two, the person cited above said.Deutsche Bank holds a 25% voting share, while Bank of Baroda and Central Bank together have 72% voting share and IDBI Bank has the remainder.

Tata group is set to introduce a fresh brand identity for Air India Express by October, three people aware of the development said. “The font of Air India Express on the livery will be similar to that of the new ‘Air India Sans’ font. The tail pattern will have a variety of designs like the current Air India Express fleet.