Airlines Financial News
14.11 / 05:19
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Updates
Delhi Airport issues advisory for passengers amid city's rising air pollution
Low Visibility Procedures' are in progress at the airport. The advisory requested the passengers to contact their respective airlines for 'updated information' about their flights. «Low Visibility Procedures are in progress at Delhi Airport. All flight operations are presently normal. Passengers are requested to contact the airline concerned for updated flight information,» the advisory reads.
13.11 / 12:05
UPS
Airlines
reports
travelers
Department
International
Indonesia's volcanic eruption grounds international flights on tourist island of Bali
Several international airlines have canceled flights to and from Indonesia’s tourist island of Bali because of an ongoing volcanic eruption
13.11 / 07:11
Cooper
Aviat
Airlines
security
hospital
information
Investigations
EU's data privacy laws stymie India's investigation into airline bomb hoax calls
Subscribe to enjoy similar stories. New Delhi: India’s hunt for the perpetrators of multiple bombing threats that significantly disrupted the domestic aviation and hospitality sectors has hit a roadblock in Europe, where most of the hoax calls are said to have been made through virtual private networks.
13.11 / 01:13
Waves
Aviat
Airlines
country
Department
peace
International
US prohibits airlines from flying to Haiti and UN suspends flights after planes were shot by gangs
The Federal Aviation Administration is prohibiting U.S. airlines from flying to Haiti for 30 days after gangs shot two planes
12.11 / 19:33
UPS
CEO
Airlines
Boeing
reports
International
Boeing to take several weeks to resume production of planes after the strike
Boeing says it will be several weeks before it fully resumes building passenger planes, as factory workers return following a strike that lasted nearly two months
12.11 / 13:43
UPS
Booking
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travelers
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Colleges
Travelers crisscross the globe with frequent-flier immortality at stake
Subscribe to enjoy similar stories. Beginning Wednesday, Philip Wallin plans to spend roughly 90 hours on airplanes over the course of two weeks. His grueling journey involves over 20 flights and will take him across 37,000 miles and more than a dozen time zones.
12.11 / 10:05
markets
Digital
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Experts
PAM
International
Destinations
Air India Group operates 8,500 weekly flights with 300 planes
Air India Group is currently serving 312 domestic and international routes with around 8,500 weekly flights, according to airline sources. For now, Tata Group-owned Air India, which has merged full service carrier Vistara with itself, has a total of 67 wide body aircraft, including seven of Vistara. The integrated entity of Air India and Vistara is India's largest international carrier and the second largest domestic airline. The entity has 210 planes serving 91 destinations and 174 routes with weekly flights of around 5,600, the sources said.
12.11 / 07:59
12.11 / 07:21
markets
Aviat
Airlines
security
Experts
Courts
rights
Mint Explainer: The Cape Town connection to the Jet Airways, Go First insolvencies
Subscribe to enjoy similar stories. The failure to revive two prominent Indian airlines—Jet Airways and Go First—has triggered a debate on the limitations of India’s Insolvency and Bankruptcy Code (IBC), particularly in addressing airline insolvencies. Jet Airways and Go First have now become case studies shedding light on the difficulties in reviving airlines under the IBC.
12.11 / 04:11
11.11 / 16:07
markets
Aviat
Airlines
Boeing
Experts
PAM
International
IndiGo working with civil aviation ministry to extend wet lease of Boeing 777 planes
IndiGo is working with the civil aviation ministry to explore the possibility of extending the wet lease of wide-body Boeing 777 planes from Turkish Airlines as the existing lease period is ending this week. Currently, IndiGo is operating two wet-leased Boeing 777 planes for flights from Delhi and Mumbai to Istanbul. These are also the only two wide-body aircraft that are in the fleet of the airline, which is India's largest carrier with a domestic market share of over 62 per cent. These aircraft were wet-leased to cater to the rising demand for international travel from India. IndiGo started operating its first wide-body Boeing 777 aircraft on the Delhi- Istanbul route from February 1, 2023, and began operating the Boeing 777 plane on the Mumbai-Istanbul route from May 17, 2023.
11.11 / 10:19
markets
Digital
Airlines
Experts
Justice
hospital
Courts
Bombay HC grants medical bail to Jet Airways founder Naresh Goyal
In May this year, a single bench of Justice N J Jamadar granted interim bail to Goyal on medical grounds. Last year, Goyal was arrested by the Enforcement Directorate (ED) in an alleged money-laundering case. The ED probe came after a criminal complaint against Goyal by Canara Bank. Justice Jamadar on Monday made the interim order permanent.
11.11 / 09:49
markets
COST
UPS
FIVE
Aviat
Airlines
reports
Vistara's last flight: Why Indian aviation remains a two-plane race?
While more and more Indians take to flying even as the government builds airports at a breakneck speed to connect small cities and remote places, India's aviation sector remains dominated by just two big players who hold between them more than 90% of the market share. IndiGo's market share rose to 63 per cent in September while the overall domestic market share of Air India Group comprising Air India, AIX Connect and Vistara touched 29.2 per cent. While Akasa Air's market share stood at 4.4 per cent, that of SpiceJet was at 2 per cent. As Vistara folds up into the Air India Group today, the number of full-service carriers in the fast-growing Indian aviation space will come down to just one from five in a span of over 17 years. In the last 12 years, three Indian airlines Kingfisher, Jet Airways and Go First went bankrupt. Also Read: A shake-up in Indian skies: Vistara bows out, IndiGo goes premium
11.11 / 03:43
COST
Dash
Aviat
Airlines
wellness
Courts
Jet Airways’ liquidation wasn’t the ideal way out of insolvency
Subscribe to enjoy similar stories. The Supreme Court (SC) last week finally brought down the guillotine on Jet Airways, thereby putting a hard stop to a painfully prolonged insolvency resolution process that had kept the ailing airline on artificial respiratory support. Jet Airways was a child of economic liberalization in the early-90s that had opened India’s aviation skies to private operators.
11.11 / 01:01
markets
Digital
Booking
Airlines
Deloitte
reports
travelers
Carriers, online travel agencies rev up as burgeoning corporate travel offers rich pickings
online travel agencies (OTAs) and scheduled airlines, as business travel soars in lockstep with the resumption of normal office routines. «Return to office remains a key driver of increased corporate travel, as companies balance remote, in-office and hybrid work,» said Praveen Iyer, cofounder of Akasa Air. «With hybrid work models, employees are traveling frequently for meetings, collaboration and industry events like conferences and trade shows.» MakeMyTrip's corporate travel platforms, myBiz and Quest2Travel, crossed a gross booking value of $200 million for the first time in the quarter ended June, underlining growth prospects. Yatra's billing from the corporate segment crossed about $24 million (₹200 crore) for April-June, 77% higher than the previous three-month period. «We have to focus on really doubling down on the corporate side,» said Dhruv Shringi, chief executive of Yatra Online. The OTA derives 55% of its revenue from the B2B segment.
10.11 / 19:19
markets
UPS
FIVE
Digital
Airlines
Experts
PAM
Indian skies will now be left with just one full-service carrier
Indian aviation space will come down to just one from five in a span of over 17 years. Also, the merger-which will see Vistara's 49% owner Singapore Airlines holding 25.1% stake in Air India post the merger-will mark the sunset of another Indian airline jointly owned by an overseas carrier after the liberalisation of foreign direct investment norms. In 2012, Prime Minister Manmohan Singh-led UPA government allowed foreign airlines to buy up to 49% in a domestic carrier, which later resulted in the now defunct Jet Airways securing 24% stake from Gulf carrier Etihad besides the birth of AirAsia India and Vistara.
10.11 / 18:31
Airlines
economy
performer
reports
Alitalia will lay off over 2,000 remaining employees as liquidation nears
Italy’s former national carrier Alitalia has started procedures for the collective dismissal of its remaining 2,059 employees
10.11 / 11:37
markets
Aviat
Airlines
Strategy
awards
PAM
AVP
Vistara merger: Section of AI pilots unhappy over different retirement age
Vistara merger over different retirement age limits for pilots of the two Tata Group-owned airlines as the management is yet to address the issue, according to sources. At Air India, which was owned by the government since the 1950s and came into the Tata fold in 2022, the retirement age for pilots and other staff is 58 years, whereas at Vistara it is 60 years. Vistara — jointly owned by Tata Group and Singapore Airlines — is set to be merged with Air India on November 11 as part of the salt-to-steel conglomerate's consolidation of its aviation business. The sources said resentment is brewing among a section of Air India pilots as the management is yet to formulate a common superannuation age for the integrated entity.
10.11 / 08:59
markets
Digital
Airlines
Strategy
Experts
Singapore Airlines to invest additional Rs 3,195 cr in Air India post-Vistara merger
Vistara in November. The merger, announced on November 29, 2022, and set to be completed on November 11, 2024, will result in Singapore Airlines having a 25.1 per cent stake in the enlarged Air India. Full-service carrier Vistara, which started flying on January 9, 2015, is a joint venture between Tatas and Singapore Airlines, where the latter holds a 49 per cent shareholding. Singapore Airlines (SIA) Group on Friday said its consideration for the merger comprises the 49 per cent interest in Vistara and Rs 20,585 million (Rs 2,058.5 crore) in cash in exchange for a 25.1 per cent equity interest in the enlarged Air India.
09.11 / 08:33
markets
Citi
Airlines
Strategy
Metro
International
Destinations
Air India Express plans more international flights; to have over 110 planes by March 25
Air India Express will focus on connecting smaller cities and towns with metros as well as fly to new overseas destinations, according to senior officials. The airline, which recently completed the merger of AIX Connect with itself, has a fleet of around 90 aircraft and the count is expected to cross 110 by the end of this fiscal.
09.11 / 04:55
markets
Digital
Airlines
reports
International
Oversees Pakistani group Al Nihang offers to acquire debtridden Pakistan's national airlines
Al-Nihang, an overseas Pakistgroup has offered to acquire Pakistan International Airlines for the cost of PKR 100 billion amid a set of terms and conditions, Ary News reported.
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