Airlines Financial News

₹103 per equity share and the share will be listed on the NSE SME exchange Wednesday, 9 August. Zeal Global Services IPO plans to raise ₹36.46 crore. The company plans to use the issue's proceeds to pay for the following things: working capital needs, investments in subsidiaries for company growth, partial debt repayment, general corporate purposes, and issue expenditures.

A post shared by Akasa Air (@akasaair) Akasa initially placed an order of 76 aircraft with American OEM Boeing. However, at the Paris Air Show 2023, the airline placed another order of four more Boeing 737-8, as per international expansion plans.

InterGlobe Aviation report a profit for the quarter ended June 2023 as against a loss a year ago. The operator of IndiGo airlines is seen reporting a consolidated net profit of Rs 1,769 crore compared to a loss of Rs 1,064 crore a year ago.

Entrepreneurs spend years transforming their businesses but sometimes can miss the tell-tale signs of downfall. The same happened with businessman Vijay Mallya, who is absconding after he was unable to pay his debt of Rs 9,000 crore ($1.1 billion).Kiran Mazumdar-Shaw, who was named in the 100 most influential people of the world list in 2010 by TIME magazine, recently revealed on Zerodha co-founder Nikhil Kamath's popular podcast series 'WTF' her equation with Mallya. The Executive Chairperson of Biocon Limited said that they were next-door neighbours and grew up together. «He considered me as his elder sister,» she shared with Kamath. Calling Mallya a 'dear friend' and a 'nice guy', the businesswoman said that the defamed industrialist has a «brand appeal to the youth.» When Kamath asked what made Mallya likeable, she said that he is a generous man who loves his friends. While the former liquor baron was a passionate serial entrepreneur, Mazumdar-Shaw said that he was unable to recognise the warning signs of failure. Mallya, who was heading the United Breweries Group, wanted to try out different businesses. But, getting into Kingfisher Airlines was a «blunder,» said the biotech boss.

₹98,508.26. Kolkata, another major metro, has also witnessed an upward trend in ATF prices, with rates soaring to ₹1,07,383.08 per kilo-litre. Meanwhile, Mumbai, the financial hub of India, recorded a price hike, with ATF now priced at ₹92,124.13 per kilo-litre.

Nonfungible token (NFT) conglomerate Yuga Labs has agreed to acquire the metaverse-building startup Roar Studios as Yuga looks to bolster its Otherside metaverse.

₹597.4 crore. In response, the court inquired whether the RP could mobilize such a substantial amount. The RP clarified that immediate refunds were not on the table, but instead, payments would be made gradually after resuming flight services based on cash flow and revenue.

New Delhi: In a fresh bid to revive Jet Airways (India) Ltd, the Directorate General of Civil Aviation (DGCA) has extended the air operator certificate of the beleaguered airline until 3 September, even as it undergoes the corporate insolvency resolution process (CIRP). “DGCA has extended AOC in respect of Jet Airways for a period up to 03.09.2023 only for limited purpose of completing the ongoing CIRP," the regulator said in a statement. However, the airline will be required to undergo a re-certification process as per the established rules and show its adherence to the applicable regulatory requirements once again before it can resume flight services.

₹579 crore along with accrued interest to the airline’s former promoter Kalanithi Maran. The bench presided over by Justice Chandra Dhari Singh also rejected the airline’s plea for interest waiver on the arbitral award, besides dismissing Singh’s challenge against the award in favour of the Marans. The dispute pertains to the transfer of Maran and KAL Airways’ entire 58.46% stake in the airline to Singh in February 2015.

Federal officials say they are investigating a recent close call between an airline plane and a private jet that required pilots of both planes to take evasive action

Zulfiquar Hasan said on Monday. In recent times, there have been incidents of unruly passenger behaviour onboard flights.

It seems like Indian airlines are caught in a toug... moreIt seems like Indian airlines are caught in a tough spot due to the government's ambitious sustainability goals.

Wall Street analysts have continued to adjust their ratings on Southwest Airlines (NYSE:LUV) after a softer-than-expected earnings report.

₹103 per equity share and the share will be listed on the NSE SME exchange Wednesday, 9 August. Zeal Global Services IPO plans to raise ₹36.46 crore. The company plans to use the issue's proceeds to pay for the following things: working capital needs, investments in subsidiaries for company growth, partial debt repayment, general corporate purposes, and issue expenditures.

₹579 crore plus interest to former promoter Kalanithi Maran. The decision paves the way for the enforcement of the award.

More than two years after the Jalan-Kalrock consortium’s bid to revive India’s erstwhile full-service carrier Jet Airways was approved by the National Company Law Tribunal, the implementation of the revival plan remains a distant dream. Mint explains the issue. The Jalan-Kalrock consortium said on 31 July that the civil-aviation regulator, the Directorate General of Civil Aviation, renewed the air operator certificate of Jet Airways on 28 July.

GoAir must pay a compensation of Rs 10,000 and reimburse additional flight charges amounting to Rs 13,956 to a flyer for the abrupt cancellation of a flight to the Maldives a week before the scheduled trip. As per a ToI report, the commission supported the complainant's argument, stating that the cancellation caused mental agony and inconvenience, despite booking the tickets well in advance for a hassle-free family holiday. The complainant, DV Manohar (69), a resident of Whisper Valley, had booked round-trip tickets for Rs 77,408 through GoAir for a holiday trip to the Maldives.

DGCA) has renewed Jet Airways’ flying permit just till September as the fate of the defunct airline still remains uncertain. Jet has old, mostly defunct aircraft. JKC hasn’t purchased or leased a single plane.

Jet Airways shares hit the 5% upper circuit of Rs 51 on BSE after the Jalan-Kalrock Consortium (JKC)-owned airline company secured renewal for its air operator’s certificate from the Indian civil aviation regulator. The Director General of Civil Aviation (DGCA) on Friday, July 28, re-issued the Air Operator Certificate (AOC) which expired on May 19, 2023, as the airline did not start operations after getting an AOC from the DGCA on May 20, 2022, PTI reported. The renewal of AOC revalidates the confidence of the Indian aviation regulator in the revival of Jet Airways, the PTI report said, quoting from the statement.

fans of cricketer Mahendra Singh Dhoni expressed their disapproval after an air hostess recorded a video of him sleeping on a flight, with his wife Sakshi engaged in her own activities beside him. The video quickly went viral on social media, prompting criticism of the air hostess for violating Dhoni's privacy. Dhoni, the former captain of the Indian cricket team and the current skipper of Chennai Super Kings, holds an unparalleled level of popularity among cricket enthusiasts.

₹1,323 crore from the budget carrier, The Economic Times reported. However, it also dismissed SpiceJet and current promoter Ajay Singh's challenge to the arbitration award, which directed Singh to refund ₹579 crore, along with interest, to Maran, the publication added.. The issue stems from the non-issuance of convertible warrants and preference shares to Maran and Kal Airways, the former owners of the airline.