Airlines Financial News

24.07 / 18:39

UPS Provident Airlines awards HC tells MD of SpiceJet to appear in person

₹75 crore to Kal Airways within three months towards its interest liability under an arbitral award, but the amount remains unpaid even after the airline asked for an additional two-month extension. According to Singh, the Supreme Court, in its order on 7 July, observed that SpiceJet’s application was just a delaying tactic not to pay money even when there were court orders directing the same.

24.07 / 18:33

Provident Aviat Aware Airlines settlement resolution Go First resolution professional in settlement talks with Delhivery

Delhivery, which has challenged the beleaguered airline's voluntary insolvency, its counsel informed the National Company Law Tribunal (NCLT) on Monday. «We are looking at settling with them,» the counsel submitted before the NCLT, while seeking more time to complete the talks.

24.07 / 17:33

Provident Airlines Settling Delhivery issues out of court, Go First informs NCLT

₹1.59 crore to Go First for domestic cargo consignment services that were never provided by the airline in return for the payment. The payment was made under the terms of an agreement that the companies had entered into in 2020 and which was last renewed in August 2022.

24.07 / 17:13

UPS Booking AXY Platform Airlines HDFC Infinia reclaims top spot as Axis devalues Magnus credit card

₹1 lakh monthly spend, increased its renewal fee by 25% to ₹12,500 (18% GST extra) and raised the annual fee waiver threshold to ₹25 lakh from the existing ₹15 lakh. That wasn’t all. The bank also reduced the 5:4 air miles and hotel points conversion rate to 5:2 for non-Burgundy (Axis bank’s premium banking service) members, who comprise a majority of the card owners.

24.07 / 13:59

Aviat Airlines Parke Lessors have applied for deregistration of 54 Go First planes: Govt

Lessors have sought deregistration of 54 aircraft of Go First and aviation regulator DGCA is closely monitoring the situation since the airline announced cancellation of flights in May, the government said on Monday. Cash-strapped budget carrier Go First stopped flying on May 3 and is undergoing a voluntary insolvency resolution process.

24.07 / 13:41

COST Lowe's Airlines Boeing Costs Ryanair touts lower fares to fill planes as costs start to bite

Ryanair lowered its full-year traffic prediction and said it may need to cut ticket prices to fill seats as passengers become more cost-sensitive.

24.07 / 13:27

UPS Waves Extreme Airlines Southern Greece battles wildfires amid hottest July in 50 years as heatwave sweeps through Europe, US

Greece on Saturday faced its hottest July weekend in 50 years, with temperatures forecast to soar above 40 Celsius (104 Fahrenheit), while a record-breaking heat wave stretching across the southern United States was expected to expand in the coming days. Over the past 24 hours, 162 fires have been reported across Greece amid high winds and extreme heat. The Greek Coast Guard, which led efforts to rescue tourists and locals from Rhodes, also helped evacuate 59 people from a beach in northern Corfu last night as another blaze threatened.

24.07 / 12:33

Reuters Booking Aviat Airlines DGCA asked to de-register 54 aircrafts leased to Go First: Rajya Sabha informed

DGCA is subject to the outcome of the cases before National Company Law Tribunal, Delhi and High Court of Delhi" The Mumbai-based carrier Go First, which stopped flying on May 3, is undergoing an insolvency resolution process, and it has cancelled all its flights till 25 July. DGCA on Friday said it has approved Go First's plan to restart operations with 15 aircraft and 114 daily flights with a host of conditions, including the availability of required interim funding.

24.07 / 09:03

UPS Provident BLOCK Aviat Airlines country rights Minister says government will review Turkish air rights

Transport Minister Catherine King says she will review whether Turkish Airlines can add more flights to Australia, blaming the carrier for failing to submit a formal request before it was set to announced expanded services.

24.07 / 03:27

Booking Aware Airlines Go First cancels flights until July 25th due to operational reasons. Details here

Go First flights scheduled till 25th July 2023 have been canceled. We apologize for the inconvenience caused by the flight cancellations," Go First said. “As you are aware, the company has filed an application for immediate resolution and revival of operations.

24.07 / 01:57

Reuters Aviat Fox Airlines track Pilots American Airlines American Airlines boosts offer to pilots union as air industry travel woes mount

Travel expert Lee Abbamonte warns that the July 4th travel rush isn't the end of a busy travel year.

24.07 / 01:55

COST UPS Airlines Enterprise performer country Stocks to Watch: RIL, ICICI Bank, HDFC Bank, Adani Ent, SpiceJet, Paytm

Reliance Industries: Reliance Industries Ltd said quarterly profit declined 5.9% from a year earlier. Net profit fell to ₹18,258 crore in the three months ended 30 June from ₹19,405 crore in the year-ago quarter. Profit missed the average ₹18,302 crore estimated by a Bloomberg survey of analysts.

23.07 / 20:21

FIVE Aviat Airlines Strategy Boeing Cathay electronic Air India eyes 20% share in air cargo biz in 2-3 years

NEW DELHI : Air India plans to bolster its presence in the air cargo segment, with a target of securing a 20% market share over the next 2-3 years by utilizing the airline’s incoming fleet of wide-body aircraft that will double its capacity in the near- to medium-term, two people familiar with the development said. As part of its strategy, the airline plans to engage with companies in the telecom, electronics, and pharmaceutical industries that are key users of airlines to ferry products. The airline is also working on sector-specific packages and looking at long-term arrangements with large companies.

23.07 / 18:47

Twitter Booking Aware Airlines Go First cancels flights until July 25th due to operational reasons

Go First on Sunday announced the cancellation of its flights until July 25th The announcement was made via a Twitter post on Sunday. Go First said: «We regret to inform that due to operational reasons, Go First flights scheduled till 25th July 2023 have been cancelled. We apologise for the inconvenience caused by the flight cancellations.» The tweet further said the company has filed an application for immediate resolution and revival of operations.

23.07 / 18:11

COST Provident Lowe's Aware Airlines Go First looks at external funding for contingency plan

The airline had filed for voluntary insolvency proceedings on May 3 before the Mumbai bench of the NCLT, attributing the decision to protracted delays in sourcing airworthy engines from Pratt & Whitney (P&W). The Insolvency and Bankruptcy Code (IBC) provides for priority funding after a company has been admitted in NCLT at higher rates. This is considered in corporate insolvency resolution process (CIRP) costs and remains above banks' in the priority list of repayment, people familiar with the matter said.Bank of Baroda (BoB) and Central Bank of India (CBI), the two lead lenders for the grounded airline, have in principle agreed to lend Rs 450 crore, but needs approval from their board.

23.07 / 17:31

Reuters Booking Aviat Aware Airlines Assurant Go First cancels flights till 25 July

Go First also assured that they will be able to resume booking shortly. “As you are aware, the company has filed an application for immediate resolution and revival of operations. We will be able to resume bookings shortly" the statement read.

23.07 / 14:55

Waters Airlines social plane Woman "forced to urinate" on plane's floor after being denied to use restroom by crew members

As reported, the incident happened on a US-based Spirit Airlines flight. According to a report from View From The Wing, a woman claimed she was «forced to urinate» on plane's floor after being denied access to the plane's restroom for several hours by the airline staff. Shockingly, a cabin crew member recorded a video of the incident, further compounding the humiliation.

23.07 / 13:07

Aviat Manufacturing Airlines Boeing Returns Dubai-bound Air India flight returns to Kerala two hours after departing. Here's why

Air India flight, IX 539, which took off with 174 people onboard -- including the crew -- from here at 1.19pm returned back and landed safely at 3.52pm, an airport official said. "The plane landed safely. All passengers and crew are fine.

23.07 / 11:51

FIVE Fighting Airlines Assurant TUI Tourists evacuated as fires blaze across Greek island of Rhodes - Here's what is happening

Tourists have been forced to evacuate as wildfires burn through forests on the Greek island of Rhodes. Officials have so far rescued some 19,000 people as wildfires continued to burn for a sixth day on three fronts. Several travel agencies and airlines have halted passenger flights even as thousands of tourists and residents were forced to shelter in schools and indoor stadiums over the weekend.

23.07 / 06:59

COST Aviat Manufacturing Airlines rights Turkish Airlines grounded before launch as Minister delays air rights

One of the world’s biggest airlines, Turkish Airlines, has been forced to put its plans of expanding services into Australia indefinitely on hold after it failed to win government approval in time for an expected launch of highly sought after capacity to Europe from Melbourne and Sydney.

23.07 / 03:43

Citi Twitter Man Waters Airlines show social Watch: Ahmedabad Aiport flooded with knee-deep water, passengers asked to check with the airlines

Airport in Gujarat was flooded with knee-high water as per visuals shared on social media websites. The heavy rains induced water logging at the airport have led to passengers facing trouble in reaching for their flights on time while authorities have asked the passengers to check in with their airlines about their flights.

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