Airlines Financial News

Qantas saved about $80,000 in training costs for every pilot who missed out on a promotion when the airline last hired externally, but refused to compensate those who it wanted to pass over when it restarted operations after the pandemic.

₹500 crore into the company to improve the airline's financial status. SpiceJet shares opened at ₹33 apiece on BSE.

Airport (CSMIA) in Mumbai has achieved the fourth position in a readers' survey conducted by a US-based travel magazine to determine the favourite international airports. CSMIA is the sole Indian airport to be featured in the list of 'Travel + Leisure Readers' 10 Favorite International Airports of 2023 survey'. CSMIA's inclusion in the top rankings reflects the positive feedback from readers, with a reader score of 86.47.

Less than six months after it began operating, Bonza says it will cut five routes from its schedule while it waits for new planes to arrive after they finish operating in the northern hemisphere summer later this year.

Tata Consultancy Services: Tata Consultancy Services (TCS) Ltd on Wednesday reported a 16.84% year-on-year rise in its consolidated net profit for the fiscal's first quarter ended June (Q1FY24) to ₹11,074 crore. The company had reported a profit of ₹9, 478 crore in the year-ago period. Sequentially, the consolidated net profit was down 2.8%.

Zensar Tech: Buy at ₹396.40, target ₹414, stop loss ₹390;2] Syngene International: Buy at ₹780, target ₹811, stop loss ₹768; and3] VRL Logistics: Buy at ₹736, target ₹764, stop loss ₹722. (Read More)Housing Development Finance Corp., India’s largest mortgage lender, took its last bow from the stock market on Wednesday with a record high volume of ₹11,567.44 crore and the highest-ever deliverable quantity of 33.8 million shares, indicating that investors and traders took delivery ahead of the record date on 13 July to be eligible for receiving the merged HDFC Bank shares.In addition to fresh buying, those holding derivatives positions on NSE would have also opted for delivery as all derivatives contracts remaining open by the end of trade on 12 July would result in compulsory delivery, given the attractive swap ratio, said analysts.

The Economic Times.  The Delhi High Court on Wednesday permitted crisis-hit Go First airline to carry out the maintenance of aircraft leased to it while allowing the lessors to inspect the planes periodically. A division bench headed by Chief Justice Satish Chandra Sharma, while dealing with appeals by the resolution professional (RP) appointed under the insolvency law to manage the airline against an order by a single judge, also clarified that the DGCA shall be free to act on the plan submitted by the airline for resumption of its operations.

bankruptcy court has allowed Go Airlines (India) Ltd's application to admit one of its vendors Blue Mushroom Infozone under the CIRP. The tribunal has also appointed Dipti Amit Thite as the Interim Resolution Professional.

New Delhi: The division bench of the Delhi High Court has rejected the appeal by Go First, seeking a stay on the interim order by a single judge bench on 5 July. The interim order had allowed its lessors to inspect its 30 parked aircraft. Besides, the bench comprising Chief Justice Satish Chandra Sharma and Justice Sajeev Narula, granted the Directorate General of Civil Aviation 15 days to give approvals for the airline to resume operations.

New Delhi: Indian airlines face a potential capacity shortage during the peak December quarter travel season, as aircraft induction plans of major carriers are progressing at a sluggish pace, according to data from aircraft tracking site Flightradar24 . Since the suspension of low-cost carrier Go First, domestic airlines’ fleet size has risen by just 0.9% to around 680. Only three major scheduled carriers, including market leader IndiGo, Tata Group’s Air India and startup carrier Akasa Air have added airplanes to their fleet since May.

₹500 crore from its promoter Ajay Singh, offering a lifeline to the financially-beleaguered budget airline. Singh will infuse the funds by subscribing to fresh equity shares and/or convertible instruments. The decision was made at SpiceJet’s board meeting on Wednesday to consider various options to raise funds either by selling shares or convertible securities on a preferential basis or both.

SpiceJet promoter Ajay Singh will infuse Rs 500 crore into the airline, a move that will help boost its financial position amid multiple headwinds.The fresh equity infusion will help the carrier in accessing additional credit facilities of Rs 206 crore under the Emergency Credit Line Guarantee Scheme (ECLGS), it said in a statement on Wednesday.

₹500 crore ($60.85 million) into the company to strengthen the airline's financial position. The fresh equity infusion will help the carrier in accessing additional credit facilities of Rs206 crore under the Emergency Credit Line Guarantee Scheme (ECLGS), the company said in a statement. “The infusion of fresh capital will substantially strengthen the company’s financial position and is a powerful vote of confidence in its future and long-term viability.

The US Labor Department Wednesday said the annual consumer inflation cooled in June to its lowest rate since 2021, adding that it was an encouraging sign for policymakers battling to rein in cost pressures. The key inflation gauge, the consumer price index (CPI), rose 3.0% from a year ago last month, down from 4.0% in May and slightly lower than analysts expected.

Go First's resolution professional (RP) challenging an earlier order that allowed lessors to inspect the airline's aircraft and their parts at regular intervals.  Lessors can now carry out inspections regularly. Additionally, the bench comprising chief justice Satish Chandra Sharma and justice Sajeev Narula has given the Directorate General of Civil Aviation (DGCA) 15 days to grant approvals to the airline for resuming operations. On 5 July, a single-judge bench of the Delhi High Court permitted the lessors of the airline to inspect and carry out maintenance work of Go First's 30 aircraft within the next three days.

When booking flights, navigating extra fees and upgrades can be overwhelming, which is no accident

Italian luxury brand Bulgari is the latest international brand to apologize to China after listing Taiwan as a country on its website

With an 11 p.m. arrival and predawn departure, I didn’t need much from my $146-a-night Hyatt Place by the airport. Well, except for a glass of wine to take to my room.

The $2 billion voluntary carbon-offsets market has suffered allegations that many credits don’t deliver the emissions cuts they promise, but multiple efforts to rebuild credibility face an uphill battle. Recently the Commodity Futures Trading Commission said it would make policing carbon offsets a priority, Nestlé decided to leave the market and standard setters published guidelines that few existing buyers would meet. As things currently stand, only 5% of companies buying voluntary credits would meet the tough new standards on their proper use, according to Trove Research.

₹20 for a flight ticket of ₹13,820. Writing a scarcastic caption, Kumar asked, "Pls suggest some good investment plans for my refund." The image shared by Kumar showed how he was charged cancellation fee of ₹11,800 along with an additional GI cancellation fee of ₹1,200 which came to deduction of ₹13,800 and was left only with ₹20 which he received. His post has garnered over 500,000 views, 5000 likes and 439 retweets on twitter.

SpiceJet fell over 12% in intraday trade on Wednesday on reports that the aviation regulator has placed the airline under enhanced surveillance. The stock recovered some lost ground and was last trading at Rs 28.84, down 3.38% from the previous close. PTI reported on Tuesday that DGCA has put the carrier under «enhanced surveillance» amid multiple financial headwinds in recent months.