Airlines Financial News

(Reuters) -Singapore Airlines Ltd (SIA) reported a 4.9% jump in its quarterly net profit on Tuesday, boosted by a strong air travel demand in key markets.

Adani Enterprises started as a commodity trading business in 1988, specialising in agricultural goods and textiles. By the early 1990s, the company broadened its scope to include the import and export of both raw materials and finished products. Then, in the late 1990s, the company began diversifying across various sectors such as infrastructure, logistics and energy.

Air India Express will be offering tickets at discounted prices to passengers who prefer travelling without check-in baggage, the company announced on Tuesday. Through 'Xpress Lite', passengers can avail fares cheaper than regular fares. «Xpress Check-In enables flyers to avoid queues at counters and baggage belts and comes with a complimentary +3 kg cabin baggage allowance in addition to significantly discounted pre-booked prices for +15 kg and +20 kg check-in baggage allowances to ensure the maximum flexibility and convenience for guests booking on Xpress Lite fares,» the company said in a press release.

JSW Steel: The steelmaker is in talks to pick up a 20% stake in Australia’s Blackwater coal mine from Whitehaven Coal for around $1 billion, said two people aware of the discussions. The companies are yet to decide on the final valuation.

₹10,000 crore, and an expected compensation from engine manufacturer Pratt & Whitney for faulty engines. The legal dispute with Credit Suisse traces back to November 2011 when SpiceJet, then under the ownership of Kalanithi Maran, entered into a 10-year aircraft servicing agreement with SR Technics, a Swiss company providing maintenance, repair and overhaul services for aircraft.

NEW DELHI : The Supreme Court came down heavily on SpiceJet for failing to clear its outstanding dues to Credit Suisse and ordered the low-cost airline to settle all pending payments by 15 March. The court on Monday directed SpiceJet to pay $1.25 million to Credit Suisse, along with monthly installments. Additionally, SpiceJet’s chairman and managing director, Ajay Singh, has been summoned to appear before the court on 22 March.

A labor union in Germany has called on ground staff for Lufthansa to walk off the job at seven airports on Tuesday following a similar strike earlier this month

A passenger jet with 106 people on board had to return to the Belgrade airport after it hit runway equipment and sustained severe damage shortly after takeoff from the Serbian capital

Supreme Court on Monday asked low-cost carrier SpiceJet to clear all outstanding dues by March 15 in the ongoing Credit Suisse case. “There is no scope of belated payment. The respondent is not justified in saying so. The very fact that the respondent is in default is apparent from the dateline given,” the SC observed. The SC in September allowed SpiceJet to clear arrears in the airline’s payment to Swiss financial services firm Credit Suisse over a dispute settlement in six months.

In today's trade shares of Paytm, Sula Vineyards, ZEE, Omaxe and others will be in focus due to various developments

civil aviation security regulator has asked airlines to deploy adequate manpower within 10 days to ensure passengers don't have to wait more than half an hour to collect their luggage. The Bureau of Civil Aviation Security (BCAS) wrote to airlines on Friday, directing them that the first bag should arrive at the carousel within 10 minutes of the aircraft shutting down the engine and the last bag no later than 30 minutes. In January, BCAS monitored baggage arrival time of all airlines at six metro airports — Delhi, Mumbai, Bengaluru, Hyderabad, Kolkata and Chennai — on a weekly basis and found they did not adhere to the standards set in the Operation, Management and Delivery Agreement. Contractual agreement was signed by Airports Authority of India with Delhi and Mumbai airports during their privatisation in 2006. It defines standards of service that the airports have to provide to passengers. «The above monitoring is currently being done at six major airports, However, BCAS has directed the airlines to ensure that the mandated levels are achieved in all airports where they fly,» the regulator said in a statement.

Air India, IndiGo, Akasa, SpiceJet, Vistara, Air India Express Connect, and Air India Express, BCAS has urged them to implement necessary measures to ensure the timely delivery of customer baggage. In an extensive survey conducted across the nation's six major airports, the BCAS scrutinised the operations of seven airlines and analysed over 3600 flight movements along with their baggage delivery processes.

A flight from Vancouver to Toronto made an unscheduled stop in Winnipeg after a passenger attempted to open a door.

Civil aviation security regulator Bureau of Civil Aviation Security (BCAS) has asked airlines to deploy adequate manpower in 10 days so that passengers don’t have to wait at airports for their luggage. The regulator on Friday wrote to airlines saying that the first bag should arrive at the baggage belt in 10 minutes of the aircraft shutting down the engine whereas the last bag within 30 minutes. In January, BCAS monitored baggage arrival time of all airlines at six metro airports- Delhi, Mumbai, Bengaluru, Hyderabad, Kolkata and Chennai on a weekly basis and found that they were not according to the standard set in Operation, Management and Delivery Agreement (OMDA).

Hindustan in an interview on Saturday. Amit Nagpal was among eight former Indian Navy officers who returned to India from Qatar on February 12. This was nearly three-and-half months after a Qatari court handed them a death sentence that was subsequently commuted to varying jail terms.

Stock to watch: SpiceJet shares witnessed a strong bull trend on Friday after the announcement of DGCA numbers for January 2024. However, the aviation stock sustained its early morning gains when the Indian aviation major informed stock market bourses about fresh developments on GoFirst involving its MD Ajay Singh. The Indian budget carrier declared that SpiceJet MD Ajay Singh and Busy Bee Airways Private Limited had submitted a joint bid for bankrupt airline company GoFirst, which has been grounded since May 2023 and going through insolvency proceedings.

Airline travel can be a nightmare on a good day, but when maggots start raining on you from the overhead compartment you know you’ve hit the bad travel jackpot.

Vistara and Air India pilots will have a uniform salary structure from March as the two airlines integrate their human resource departments as part of a broader consolidation of the Tata group's aviation business. As part of this, pilots of Vistara will get a fixed salary for 40 hours instead of the current 70 hours. They will get paid for extra flying hours and will also earn an additional amount as a reward based on the years of service with the airline, according to a memo sent to pilots and reviewed by ET. While restructuring of salary is the first step, both the companies will also align policies and other benefits subsequently, the pilots were told. However, a complete integration of operations will take time as it will happen only after receiving regulatory approvals.

defence ministry has given a go ahead to procure new maritime aircraft for the Navy and Coast, aerial refuelers for the Indian Air Force and several other projects for the Indian industry valued together at ₹84,560 crore. These were cleared by the Rajnath Singh-led Defence Acquisition Council on Friday. The acquisition of 15 maritime patrol aircraft — nine for the Navy and five for the Coast Guard — will be a boost to Tata-Airbus that is already manufacturing the C 295 aircraft in Gujarat. With the additional order, a total of 71 aircraft will be produced and more orders are also in the pipeline from other security agencies. Sources said that while the original order for 56 C 295 aircraft for the IAF was placed on Airbus, with Tata being the manufacturing partners, the additional order valued at ₹29,000 crore will see Tata as the prime contractor. The IAF has also got a go ahead to procure new mid air refueler aircraft, a critical force multiplier. The requirement of six new such aircraft has been projected since 2009 and two earlier attempts to procure them have failed. Sources said that the aircraft will be bought under the Buy Global option given the limited numbers needed.

Airbus says it plans to deliver more aircraft to customers in 2024 even as supply chain headaches continue to afflict the European airplane maker

The Biden administration is giving airports $970 million for improvements in terminals including things like wider concourses, new baggage-handling systems, and more gates