Airlines Financial News
15.07 / 16:43
UPS
Aviat
Action
Airlines
Senior official of Air India assaulted onboard Sydney-New Delhi flight. Details here
Hindustan Times informed in an exclusive report that the scuffle erupted over the basic rules onboard aircraft and the aviation regulator Directorate General of Civil Aviation (DGCA) was informed about the incident. “The airline’s head of the inflight services department, Sandeep Verma, who was flying from Sydney to Delhi on AI 301 was hit by a Delhi-based passenger. However, no action was taken against him," an official close to the matter told HT.
15.07 / 11:41
Provident
Aviat
Action
Airlines
Europe's ongoing strike-related travel disruptions that you need to know
The travel industry is on high alert for disruption after Europe's peak season last year was hit by cancellations, causing chaos at airports. This summer, air traffic control issues are likely to be the weak spot, according to warnings from Eurocontrol, which manages European airspace. Here is a summary of recent developments:Eurocontrol One of the Eurocontrol trade unions has announced a six-month period when industrial action could take place in the Network Manager Operations Centre, which oversees traffic across the European airspace, the pan-European organisation said on July 7.
15.07 / 03:53
Airlines
exit
consequences
IndiGo passenger faces consequences for tampering with emergency exit door cover
PTI citing sources at Delhi airports, the incident occurred on flight 6E 5605, and upon landing at Delhi airport, Hussain was handed over to security personnel. Authorities have filed an FIR (First Information Report) against him in connection with the incident. The unruly behaviour of the flyer caused panic among other passengers, crew and the pilot-in-command, the sources said.
14.07 / 20:17
Airlines
‘India’s airline fleet, airport capacity likely to double’
₹1 trillion in upgrading airport infrastructure by 2024-25.
14.07 / 17:27
UPS
JPMorgan
Airlines
Chase
JetBlue
UnitedHealth
Stocks making the biggest moves midday: UnitedHealth, JPMorgan Chase, Microsoft, JetBlue and more
Check out the companies making headlines in midday trading.
14.07 / 16:49
Aviat
Airlines
exit
plane
Passenger in trouble for opening cover of emergency exit door aboard IndiGo plane
Hyderabad to the national capital on July 8, allegedly opened the cover of the emergency exit door of the aircraft during taking off, according to Delhi airport sources. The incident happened on flight 6E 5605 and the individual was handed over to the security personnel after landing at the Delhi airport. An FIR has been filed against the individual. The unruly behaviour of the flyer caused panic among other passengers, crew and the pilot-in-command, the sources said. The passenger was in seat 18A which was close to the emergency exit door. After the incident, the cover of the emergency exit was immediately restored and the passenger was relocated to another seat in the aircraft, they added. Query sent to IndiGo seeking comments on the incident remained unanswered. According to safety experts, the handle of the emergency exit door has a cover which protects it from opening due to cabin pressure or any other accidental reasons.
14.07 / 16:49
Aviat
Airlines
Metro
DHL
GBP
Strike at Gatwick Airport in South London likely to paralyse operations
The unions have called for a strike demanding higher wages and better service conditions. The staff are not employed by Gatwick Airport, they work for four companies- ASC, GGS, DHL Services, and Menzies Aviation. The representatives of the DHL Services and Unite are holding talks to resolve the issue and avoid the strike. But there are problems as Unite has rejected a demand for an 11 percent hike in wages. A spokesperson for Menzies Airlines said that this hike is in addition to the pay revision of 2022. But he said that negotiations are being held and both sides want to avoid the strike. But the unions point out that most of the workers get an average of GBP 12 per hour and work in difficult and demanding conditions. Many companies cut many jobs and many roles were made redundant during the pandemic. Now they are denying the much-awaited pay hike. The experts feel that if the strike takes place, it will further complicate the issue and put the British aviation industry under pressure as it is already under strain due to limited air space caused by Russia-Ukraine War. Besides, workers in air traffic controls are also planning a strike. It may force some airlines to cut flights. EasyJet has already canceled more than 1,700 flights. Airlines strike is looming large at a time there have been several strikes in other sectors like nursing, railways, metro services, Border Force staff, and Civil Services. They all are demanding increased wages as the living cost has gone up in the country.
14.07 / 16:21
UPS
Maxim
Aviat
Manufacturing
Airlines
Simulation
Can Airline Seating Get Any Worse? ‘A New Form of Torture Chamber’
Like nearly everyone who boards a commercial airliner these days, Tina Dixon hates the tiny, uncomfortable seats. At 6-foot-6, she has a point. “They are a new form of a torture chamber," said Dixon, 62 years old, from Blackshear, Ga.
14.07 / 10:23
AXY
Airlines
Reserve
Customers
Axis Bank Reserve Credit Card: New rules for customers from August 13; details here
Axis Bank has revised the terms and conditions applicable to Axis Bank Reserve Credit Card customers. The revised rules will be applicable from 13th August 2023, as per information available on the Axis Bank website. Following are details of the changes announced by Axis Bank.
14.07 / 09:39
Reuters
Action
Airlines
Mobile
Pay dispute sparks eight-day strikes at London's Gatwick airport: Report
Airport in London will initiate an eight-day strike in the coming weeks due to a disagreement regarding wages. As reported by Reuters, the union expressed concerns about potential disturbances and flight cancellations at the airport as a result of the strike action. According to a previous report by Reuters, the British airline stated that it possessed a sufficient quantity of crew members and pilots at its disposal.
14.07 / 06:41
UPS
Aviat
Airlines
Qantas growing margins ten times faster than Woolies
The Australian Airports Association says Qantas is growing its margins at about ten times the rate of grocery giant Woolworths and warned that pent-up travel demand won’t last forever, calling on the government to act on industry concentration that has worsened since the pandemic.
13.07 / 20:19
Citi
Aviat
CEO
Airlines
Boeing
Enterprise
Metro
Akasa Air is a long-term bet for Jhunjhunwala family: CEO
NEW DELHI : Akasa Air is a long-term investment for Rare Enterprises and the Rakesh Jhunjhunwala family, the airline’s founder and chief executive officer Vinay Dube said, pointing to the lengthy investment horizons of the late legendary investor. “If you look at Rakesh’s average holding time, I believe you will see the average holding time from his equity investments is over nine years. Whatever chatter (about dilution of stake) is so inconsistent with decades of investment that Rakesh has made.
13.07 / 19:45
UPS
Manufacturing
Airlines
Software
French defence players point to 'expanding presence in India'
India, which is a key focus area, and plans are underway to set up defence service centres, maintenance, repair and overhaul (MRO) facilities and joint development of new weapons such as anti-tank missiles and air defence systems, besides helicopter engines. French missiles and bombs manufacturer MBDA told ET that a full weapons package is ready for the Rafale fighter jets being procured by the Indian Navy, saying it will «fit perfectly» with India's strategic ambitions in the Indo-Pacific.
13.07 / 19:11
Aviat
Airlines
Traffic
India air passenger traffic rises nearly 19 pc in June
Indian airlines carried 1.24 crore domestic passengers in June, according to data released by aviation regulator DGCA.Akasa Air, which started business in August last year, surpassed SpiceJet with 4.9% market share against SpiceJet’s 4.4%.
13.07 / 15:43
Airlines
Customers
Vistara completes flying 50 million customers, celebrates in a special way
noteworthy milestone in a big way. Its celebration “campaign was titled #50MillionFeelings to pay tribute to the myriad of feelings they have instilled in their customers over the years," Vistara said in a statement. The airline treated its 50 millionth customer with various services that included a pick-up and drop service in a luxury, chauffeur driven car, surprise cabin upgrade to business class and complimentary Gold Tier membership for Club Vistara loyalty program.
13.07 / 13:31
13.07 / 13:01
COST
Provident
Manufacturing
Airlines
wholesale
US wholesale prices for June point to further easing of inflation pressures
Wholesale prices in the United States decelerated again last month, the latest sign that inflationary pressures are easing in the face of the Federal Reserve’s streak of interest rate hikes
13.07 / 12:53
COST
UPS
FIVE
Aviat
Airlines
Traffic
India June air traffic tops pre-covid level but capacity deployed falls 5%: Icra
Icra said, indicating continued revival of the Indian aviation market. While domestic air traffic in June was around 5% lower sequentially, it witnessed a year-on-year growth of 19%.
13.07 / 12:21
13.07 / 10:19
UPS
Provident
BLOCK
Aviat
Airlines
Alliance secures $100m in new finance, profits higher than expected
Alliance Aviation says it is on track to report better than expected profits after the number of fliers rose in the six months to June 30, with $100 million in new funding from financiers in the United States as it expands.
13.07 / 08:49
UPS
Aviat
CEO
Airlines
Boeing
Chase
Akasa Air 'well capitalised', can grow much faster: CEO Vinay Dube
Akasa Air is «well capitalised» with adequate funds to place a three-digit aircraft order by the end of this year and has the potential to grow at a much faster pace, according to the airline's chief Vinay Dube. The airline is set to complete one year of flying next month, and in the words of Dube, «we have exceeded our expectations». Currently, the carrier has 19 aircraft and the 20th aircraft is expected to be inducted this month, which will also make it eligible for international operations.
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