Airlines Financial News

Stocks that traded heavily or had substantial price changes on Wednesday: Chipotle, General Mills rise; Signet Jewelers, Nasdaq fall

Air India has seen a cultural transformation after its takeover by the Tata Group, triggered by infusion of new employees and training, managing director Campbell Wilson said. The takeover of the airline has seen Air India hire new employees and part with some of the older staff. The average age of employees has come down to 34 years from 54 after its privatisation, Wilson said at the Skift India Summit 2024 on Wednesday. «There had been no recruitment in non-flying staff for the last 15 years (before the acquisition in 2022). We have been able to recruit a whole bunch of people not only for necessity but also for their competency and bring down the average age of employees,» he said.

₹155.65 crore. Vistara is currently a 51:49 joint venture of Tata Sons and Singapore Airlines. After the merger, Singapore Airlines will hold a 25.1% stake in the merged entity.

Akasa Air is confident that deliveries of its ordered Boeing 737 MAX jets will be on time, its CEO said, despite concerns over the U.S. planemaker's production schedule for 737s amid intense scrutiny after a mid-air incident this year. India's newest airline in January announced an order for 150 Boeing 737s, as it bets big on its international operations. The order announcement came days after a mid-air cabin panel blowout on an Alaska Air flight. Though Akasa's order does not include the 737 Max 9 version which has been in the spotlight after the incident, broader internal company scrutiny and external investigations in the U.S. have raised worries that delivery timeline of other variants of Boeing's 737 jetliner programme could be hit.

JetBlue Airways is cutting back

A Dubai sovereign wealth fund that’s the single-largest shareholder in the Nasdaq stock index plans to sell a third of its shares in the exchange

BRUSSELS (Reuters) — Further consolidation of Europe's airlines was necessary to keep the industry competitive, the CEOs of British Airways owner IAG and Ryanair said on Wednesday, as the EU weighs a new deal.

Russia’s seizure of billions of dollars worth of foreign-owned planes has set off the biggest-ever brawl in the normally staid business of aircraft insurance. Some of the world’s biggest insurers are fighting back against claims by the aircraft’s owners. The insurers say the owners should have done more to grab planes before they were seized.

A flight between Calgary and Cancun that usually takes around six hours ended up being a three-day affair for one group of Flair Airlines passengers.

By David Shepardson

Mint. A bilateral air service agreement mandates a limit on the number of seats or flights that airlines can allocate between two countries. India currently has bilateral air service agreements with 116 countries.

Supply-side issues are a pressing worry for the Indian aviation industry. Not only have aircraft been grounded because of this, but new deliveries are also likely to be delayed. For instance, deliveries by Boeing could take a while as certifications for some of its new aircraft have been deferred since the Alaska Airlines incident in January, in which an unused door of a Boeing 737-9 Max flew off mid-flight.

HDFC Bank, Kotak Mahindra Bank has a buy rating on InterGlobe Aviation, Jefferies recommended a buy on Piramal Pharma and UBS maintained a buy on Infosys.

Boeing is telling airlines to inspect switches on pilots’ seats after a published report said an accidental seat movement likely caused the sudden plunge of a LATAM Airlines plane flying to New Zealand

Officials say a post-flight inspection revealed a missing panel on a 25-year-old Boeing 737-800 after it arrived at its destination in southern Oregon

aviation industry, on Monday started its commercial services. The airline's inaugural flight took off from Goa's Manohar International Airport at 07:55 am, bound for Kempegowda International Airport in Bengaluru. Additionally, on its maiden day of operations, Fly91 also successfully flew its first route to Sindhudurg from Bengaluru. FLY91 is initially flying between Goa, Hyderabad, Bengaluru, and Sindhudurg. They will later add flights to Agatti, Jalgaon, and Pune in April. They'll operate flights between Goa and Bengaluru on Monday, Friday, and Saturday, with a similar schedule for Bengaluru-Sindhudurg routes. Additionally, they'll fly between Goa and Hyderabad, as well as Sindhudurg and Hyderabad twice a week. «We at FLY91 are incredibly proud to launch our inaugural commercial flight, symbolizing our commitment to connecting India in a way that has never been done before. This inaugural flight is not just about reaching a destination; it's about taking flight with the dreams and aspirations of a nation,” said Manoj Chacko, Managing Director and Chief Executive Officer.

Top Events of the Day: Prime Minister Narendra Modi is set for a busy day with a public rally in Karnataka's Shivamogga and a roadshow in Coimbatore, Tamil Nadu. The Supreme Court will hear the plea of six disqualified Congress MLAs from Himachal Pradesh, while the National Company Law Appellate Tribunal (NCLAT) hears challenges against the Zee-Sony merger in Maharashtra.

United Airlines flew Friday with a large part of its exterior missing, according to the airline, marking the latest in a series of malfunctions to plague the manufacturer.The flight from San Francisco to Oregon landed safely, but upon arrival crews discovered a broken exterior panel on the 25-year-old aircraft.According to a statement from United Airlines, no emergency had been declared and the missing piece was not discovered until all 139 passengers and six crew members safely disembarked from the plane.“We’ll conduct a thorough examination of the plane and perform all the needed repairs before it returns to service,” the airline said.The U.S. Federal Aviation Administration (FAA) says it has launched an investigation into the incident.

Saudi Arabia is considering transferring ownership of national carrier Saudia to the sovereign wealth fund, the Public Investment Fund, two sources familiar with the matter said. The transfer would include other assets owned by Saudia, one of the Middle East's oldest airlines, including its low cost unit, Flyadeal, the sources said.

blew off a Boeing Max 9 jet in midair just minutes after an Alaska Airlines flight took off from Portland, leaving a gaping hole and forcing pilots to make an emergency landing. There were no serious injuries.

By David Shepardson