Aviat Financial News

Kenya's high court has temporarily paused a plan to transfer the management of Nairobi's main airport to India's Adani Group, as reported by the Financial Times.

Battery-powered devices are overheating more often on planes, and that is raising safety concerns because of the fire danger

Air Canada is working on plans to start suspending operations ahead of a looming pilot strike, the carrier said in a statement Monday morning.

Singapore will start construction of a new mega terminal at Changi Airport in the first half of next year, aiming to lift the aviation hub's annual passenger handling capacity by more than half, Prime Minister Lawrence Wong said. The new Terminal 5 would add capacity for another 50 million passengers a year when operational in the mid-2030s, up from 90 million, and would allow the aviation hub serve more than 200 destinations, from almost 150 now. «We will break ground for the construction of T5 in the first half of next year,» Wong said at a dinner on Friday celebrating the 40th anniversary of the nation's civil aviation authority.

IndiGo plans to significantly expand its international reach and enhance its cargo operations in the coming years as part of a broader strategy to position India's largest airline as a leading global airline by 2030, chief executive Pieter Elbers said. Speaking exclusively to ET, Elbers said the airline plans to grow its international destinations to 40 from 20 by the end of the current financial year through March 2025, targeting emerging markets that are not yet well-travelled by Indian passengers. He did not comment on specific destinations, but sources suggest that new routes could include Mauritius and Al Ain.

₹3,500 over and above its regular fare, Air India Express tagged its business class seats at about ₹16,000 in the Delhi-Mumbai sector. That’s still lower than the ₹26,000 charged by its parent entity, the Tata Group-owned full service Air India, for a business class seat on the same route. “We would have replaced these business class seats earlier itself if these replacements were available earlier," a senior Air India Express executive said on condition of anonymity.

Tata Sons FY24 annual report. The group's digital and electronics business grew 148% to Rs 1,612 crore, with net losses widening to Rs 2,223 crore from Rs 1,723 crore. Tata Sons is the holding company of the Tata Group. Air India, privatised in 2022, recorded its highest-ever consolidated revenue of Rs 51,365 crore in FY24, a 24% increase over the previous year, driven by a growth in capacity to 105 billion available seat kilometres (ASKM) and an improvement in passenger load factor to 85%.

The Securities and Exchange Commission says that it has reached a settlement with industrial conglomerate Esmark and its chairman for announcing a false tender offer to buy U.S. Steel

InterGlobe Aviation Ltd. gained 0.29 per cent to Rs 4828.0 in Thursday's session as of 12:11PM (IST) even as the equity benchmark Sensex traded 59.19 points lower at 82293.45. Earlier in the day, the stock witnessed a gap up start to the session. The stock quoted a 52-week high price of Rs 4944.6 and a 52-week low of Rs 2334.95 on NSE. Around 4821 shares changed hands on the counter till 12:11PM (IST).

«But structurally, some of these downstream and upstream companies are shifting their business model towards the renewable energy side and which is what makes them attractive. So, any kind of a weakness there should be used as an opportunity to look at some of these names,» says Pankaj Pandey, Head Research, ICICIdirect.com. Let us first talk about the oil sensitives because they are the one which sort of really held the market in place yesterday. I mean be it paint companies, OMCs, all of them a bunch. But do you think that this was just a knee-jerk reaction because crude has been seeing a steady decline for past three months now? Pankaj Pandey: On the crude oil front, volatility is going to be there because ahead of US elections, largely if you look at, both the candidates are at extreme positions in terms of the views. But Trump is pitching for nearly three million barrel kind of increase in the oil production. And coupled with the fact that the Chinese economy is not doing so well, which is the largest incremental buyer, I think crude is expected to remain soft. Now, while the marketing margins are expected to prop up given the softness what we have seen in crude, but the refining margins is something which needs to be watched for. But structurally, some of these downstream and upstream companies are shifting their business model towards the renewable energy side and which is what makes them attractive. So, any kind of a weakness there should be used as an opportunity to look at some of these names.

Regional Connectivity Scheme (RCS)-UDAN, Union Minister of Civil Aviation Ram Mohan Naidu Kinjarapu has said the Centre «wants» to extend it for another 10 years. The central government had launched the UDAN (Ude Desh ka Aam Nagrik) scheme on October 21, 2016, to make air travel affordable for the people. "..We have observed the huge success that the RCS UDAN scheme has achieved. So, we want to extend it for another 10 years and see what gaps are there and try to address them...Right now, we have 157 (airports), in the plan of Viksit Bharat for 2047, we are planning to improve these 157 airports to 400 airports — including waterdrome airports, heliports and everything," said Naidu on Wednesday.

The Congress party today said that protests in Kenya over Adani Group's proposed takeover of Nairobi airport is a matter of grave concern as it could turn into anger against India. «The proposed takeover of Nairobi airport by the Adani Group has sparked widespread protests in Kenya. The Kenya Aviation Workers Union has called for a strike to protest. This is a matter of grave concern for India, as the non-biological prime minister's friendship with Adani is now world-famous. The ongoing protests there could easily turn into anger against India and the Indian government,» Congress leader Jairam Ramesh said in a post on social network X (formerly Twitter).

Cathay Pacific has temporarily grounded its fleet of A350 aircraft for inspections after a «first of its type» engine component failure forced a flight to Zurich to turn back on Monday. Cathay is conducting fleet-wide inspection of its 48 Airbus A350 aircraft and «a number of aircraft will be out of service for several days», the airline said in a statement Monday night. The airline has cancelled 24 return flights operating up until the end of Tuesday, it added.

air taxis in the world and the launch in 2026 will revolutionise urban travel, said Nikhil Goel, chief commercial officer, Archer Aviation. Archer is a California-based EVTOL company Archer Aviation. EVTOLs, or air taxis, take off and land vertically, just like a conventional helicopter. But since they're electric, they produce less emissions and are potentially much quieter. Archer's Midnight is a 4-seater aircraft, which can carry four passengers and a pilot for up to 160 kilometres. «While cities are getting more populated, our transportation options are degrading. That burden is particularly profound right here in India and that is what we are looking to address. I am confident that India will be not only be one of, but perhaps the largest market for electric air taxis in the world,» Goel said at the ET World Leaders Forum. Archer has tied up with InterGlobe Enterprises, which is the owner of India's largest airline, IndiGo, credited with making air travel more affordable in India. The US company plans to replicate the IndiGo model for its air taxi services — increase trip volume and reduce overall cost by achieving economies of scale. India is the third country besides the US and UAE where Archer plans to start operating. Archer will look to cater to passengers of IndiGo for their journey to and fro airport. IndiGo carries around 90 lakh passengers per month.

tech innovation, said Maria Katris, cofounder and CEO of Built In. Speaking at the Economic Times World Leaders forum, Katris noted that the advancements in artificial intelligence (AI) will lead to increased job creation. Katris said that although there has been a tech recession the last two years, there will be a lot of job creation going forward. «India is going to be the future for tech innovation,» Katris added. Speaking during the startup panel «Catalysts of Change: Crafting the Future Through Startups», Nikhil Goel, CCO, Archer Aviation and cofounder of Uber Elevate, said India has an opportunity for better infrastructure.

SpaceX to restart launching its stalwart Falcon 9 rocket, as a probe continues into a rare mishap this week during a first-stage booster landing. The Federal Aviation Administration (FAA) grounded the Falcon 9 rocket on Wednesday after a first-stage booster tipped over and exploded while attempting to land on a droneship off the Florida coast. The early morning launch was otherwise successful, delivering the latest batch of 21 Starlink internet satellites into orbit.

Mint. Earlier, the Central Consumer Protection Authority (CCPA), a regulatory body established under the Act, had helped facilitate refunds totalling ₹1,453 crore on air tickets booked via travel aggregators such as Yatra, MakeMyTrip, ClearTrip, EaseMyTrip, Ixigo and Thomas Cook, as Mint reported on 10 March.

government has slashed windfall tax on domestically produced crude oil to Rs 1,850 per tonne from previous Rs 2,100 per tonne. The new rates will be effective from August 31, an official notification said. Windfall tax on export of diesel and aviation turbine fuel (ATF) has been retained at nil. The tax is levied in the form of Special Additional Excise Duty (SAED). Previously, the government on August 17 revised the windfall gains tax on petroleum products, reducing the levy on domestic crude oil to Rs 2,100 per tonne, down from the previous Rs 2,400 per tonne.

Vistara said on Friday that its aircraft and passengers will be handled by Air India from November 12, as the merger of the two Tata Group-owned airlines comes closer with Singapore Airlines (SIA) getting approval from the Indian government for acquiring a 25.1% stake in the erstwhile state-run carrier. «Starting 3 September, customers will, progressively, no longer be able to make bookings with Vistara for travel on or after 12 November. All Vistara aircraft thereafter will be operated by Air India and bookings for the routes operated by these aircraft will be redirected to Air India's website. Vistara will continue to take bookings and operate flights as usual till 11 November 2024,» Vistara said in a statement Friday. Tata Sons owns a 51% stake in Vistara, while SIA holds 49%. Air India is currently owned fully by Tata Sons.

aviation regulator, DGCA, has issued a show-cause notice to Akasa Air for breaking several rules. After inspecting the airline's training records, the DGCA found that pilots were trained without the necessary approvals. The DGCA issued the notice after a surprise check revealed that practical training sessions were completed and simulated without the required regulatory permits. According to DGCA officials, “The Directorate General of Civil Aviation (DGCA) has issued a show-cause notice to Akasa Airlines concerning several regulatory breaches identified during a recent review. The violations pertain to non-compliance with Civil Aviation Requirements (CAR) 7/I/VII, CAR 7/I/I, and Rule 140C of The Aircraft Rules 1937.”

DGCA) has issued a show-cause notice to Akasa Airlines due to identified regulatory breaches. The violations, noted during a recent review, involve non-compliance with Civil Aviation Requirements (CAR) 7/I/VII, CAR 7/I/I, and Rule 140C of The Aircraft Rules 1937. Regulatory Breaches Identified The DGCA's spot audit revealed that Akasa Airlines conducted practical training sessions without the necessary regulatory approvals. This lapse raised concerns about the adequacy of the airline’s training standards and operational readiness.