Airlines Financial News

Lynx Air says customer refunds are a big expense for the insolvent company thanks to an unco-operative contractor.

Two major private sector banks Axis Bank and IDFC FIRST Bank have announced devaluation across some of their popular credit cards. Axis Bank is set to revise features and benefits on some of its premium cards starting April 20, while IDFC FIRST Bank will implement similar changes on most of its cards from May 1, 2024.

On Monday, the government releases its report on retail sales for the month of March; on Tuesday, United Airlines issues its first-quarter earnings report, followed by Netflix on Thursday

recycled." A «sustainable» airline ticket. More and more, big brands are using taglines like these to cater to their green-minded customers. And more and more, they are under fire from courts and regulators for making climate promises they can't keep. Researchers at the Grantham Research Institute on Climate Change and the Environment last year identified «an explosion of 'climate-washing' cases,» using existing national laws and regulations. Between 2020 and 2022, the most recent year for which statistics are available, the number of cases challenging the «truthfulness of corporate climate commitments» more than doubled, their tally found.

NEW DELHI, MUMBAI : The ongoing conflict between Iran and Israel could disrupt the aviation and shipping industries, sparking concerns over air travel safety and maritime security worldwide, besides a potential rise in airfares, increased war-risk premium for vessels operating in the area, as well as risks to agriculture trade. Following Iran's recent attack on Israel with drones and missiles, several countries in the region, including Iran, Jordan, Iraq, Lebanon, and Israel, temporarily closed their airspaces on 12 April as a precautionary measure, before reopening on 14 April, albeit with restrictions.

Israel and Iran, Air India has decided to temporarily suspend flights to Tel Aviv. The airline announced that direct flights between Delhi and Tel Aviv will be halted for the time being. Air India typically operates four weekly flights between the Indian capital and the Israeli city. The decision to suspend these flights comes amid the current situation. The Tata group-owned carrier had only recently resumed services to Tel Aviv on March 3, following a hiatus of nearly five months. The suspension of flights to and from Tel Aviv dates back to October 7, 2023, in the aftermath of a Hamas attack on the Israeli city.

Israel through Saturday night into Sunday. Emirates Airlines cancelled some of its fights, while Etihad Airways cancelled services to Tel Aviv and Amman on Sunday.

The biggest U.S. airlines and their unions are asking the Biden administration to stop approving more flights to the United States by Chinese airlines

The White House says it will provide unspecified support for Israel’s defense against an ongoing airborne attack from Iran.

Vijay Kedia portfolio: As Q4 results 2024 kickstarted with the announcement of TCS results, retail investors would be busy scanning portfolios of ace investors as it gives them an idea about the direction in which the smart money has flown in the recently ended quarter. For such investors, there is a piece of stock market news. Ace investor Vijay Kedia's name has appeared in the shareholding pattern of the airline company Global Vectra Helicorp Limited.

Ramco Systems, a global aviation software specialist, jumped another 13.5% in today's trading session, reaching ₹386.90 apiece to hit a 2-year high. This strong rally has pushed the stock to gain 44% in April so far.

Air India has operationalised five new contact centres, including in Cairo and Kuala Lumpur, to provide assistance to its customers worldwide. The Tata Group-owned airline has partnered with Concentrix, a California-headquartered customer engagement firm, to manage premium services from centres in Mumbai, Cairo, and Kuala Lumpur. Besides, the carrier has signed up iEnergizer to operate contact centres in Noida and Bengaluru, focusing on domestic inquiries, a release said on Friday. Recently, Air India introduced a premium desk for its premium frequent flyer members as well as business and first-class guests.

Biden administration to stop approving any more flights between the United States and China. This comes as they said due to “anti-competitive" policies that China imposes on the US carriers. On Thursday, the airlines and unions claimed that China closed its market to US carriers at the outbreak of the pandemic.

Lufthansa and a union representing cabin crew have reached a pay deal, concluding the last of several major disputes that have led to recent strikes at Germany’s biggest airline and in the country’s wider aviation sector

Delta Air Lines has reported a small first-quarter profit and says travel demand is strong heading into summer

ALSO READ: US stocks sink after inflation data, Treasury yields jump It stood by its forecast of full year earnings between $6 and $7 per share. The airline predicted that second quarter revenue will be 5 per cent to 7 per cent higher than a year ago. Excluding special items, it earned 45 cents per share, said Delta.

A 'Mornings with Maria' panel discusses the U.S. economy and markets after the January year-over-year CPI comes in at 3.1%.

Q4 results preview: Retail sector demand remains muted, soft recovery await in value space; Trent, DMart likely outliers According to brokerage firm Elara Capital, InterGlobe Aviation (Indigo) and SpiceJet are likely to report a combined adjusted profit after tax (PAT) of ₹23.4 billion in Q4FY24 versus ₹33.2 billion in Q3FY24 and ₹6.2 billion in Q4FY23. The firm further highlighted that FY25 may witness muted demand growth in the first half (H1) due to grounding of 75 fleet for Indigo and pilot issues at Vistara.

Directorate General of Civil Aviation (DGCA) has sought a timeline from airlines as to when they can implement the new pilot rest duty rules. DGCA’s move comes after the Delhi High Court, last week asked the regulator for a tentative date for implementation of the revised duty time norms for pilots. The court was hearing a writ petition filed by multiple pilot unions, challenging the DGCA rules on pilot’s duty hours. Prominent among them is a case filed by the Federation of Indian Pilots, which has more than 5,000 members.

PIA flight carrying Pakistan Prime Minister Shehbaz Sharif, Punjab Chief Minister Maryam Nawaz and a high-level delegation back from their visit to Saudi Arabia was diverted to Lahore airport, causing inconvenience to hundreds of other passengers, according to a media report on Wednesday. Interestingly, the incident came close on the heels of Prime Minister Sharif recently declaring a ban on the red carpet at events in his favour, which earned accolades for signalling a shift towards eradicating the VIP culture and encouraging a culture of humility within the realm of public service. Quoting a PIA spokesperson, the Dawn newspaper reported that the Pakistan International Airlines flight from Jeddah to Islamabad, carrying Sharif and his daughter Maryam back from their visit to Saudi Arabia, was diverted to Lahore airport on Monday.

DGCA), in response to a Supreme Court (SC) petition, stated that airlines have the authority to restrict the amount of alcohol served on flights to prevent passenger inebriation and subsequent unruly behavior. This statement follows incidents on two Air India flights where passengers, allegedly intoxicated, urinated on fellow travelers. Unfortunately, there’s no common crackdown rule or measure by the airlines’ regulatory body. It all depends on the airlines you’ve booked your flight with. Regulatory Framework