Aviat Financial News

U.S. Federal Aviation Administration on Wednesday said SpaceX’s workhorse Falcon 9 rocket has been grounded after failing an attempt to land back on Earth during a routine Starlink mission, forcing the company’s second grounding this year.SpaceX’s Falcon 9 successfully launched a batch of Starlink internet satellites into orbit early Wednesday morning.

Rakesh Gangwal, co-founder of InterGlobe Aviation, plans to sell shares worth up to $804 million in the company through a block deal on Thursday. The floor price has been set at ₹4,593 per share, reflecting a 5.5% discount to Wednesday's closing price of ₹4,859. Gangwal, along with his wife Shobha Gangwal and their family trust — who are all part of the promoter group — held nearly a 34% stake in the airline as of December last year.

Nifty rose marginally to hit a fresh lifetime high of 25,052 and Sensex gained over 70 points on Wednesday. In today's trade, shares of RIL, IndiGo, PB Fintech, Vedanta, Tata Steel among others will be in focus due to various news developments. IndiGo Rakesh Gangwal, co-founder of InterGlobe Aviation, is looking to sell up to $804 million in the company through a block deal, according to reports.

The son of a worker who died in a tire explosion at a Delta Air Lines maintenance facility near the Atlanta airport says his father's body was unrecognizable

SpaceX launches are on hold after a booster rocket toppled over in flames while landing

Canada’s Flair Airlines Ltd. is in talks to raise funds that would help ease the debt burden at the budget carrier beset by aircraft repossessions, back taxes and a financial backer accused of fraud.

Two workers are dead and a third is seriously injured after a tire explosion at a Delta Air Lines maintenance facility near the Atlanta airport

India and Singapore has set the stage for Prime Minister Narendra Modi's visit to the city-state that will happen soon, its Foreign Minister Vivian Balakrishnan has said. Senior ministers from the two countries held a «productive» round of discussions at the second multi-ministerial roundtable here and explored how the two countries can boost bilateral cooperation in digital, skill development, sustainability, healthcare, connectivity and advanced manufacturing. This was the second time that ministers from Singapore and India met at the India-Singapore Ministerial Roundtable (ISMR) after its inaugural edition was launched in September 2022 by then Deputy Prime Minister Lawrence Wong during a five-day visit to India. Balakrishnan said advanced manufacturing and semiconductors, as well as aviation and maritime connectivity, are the new areas that Singapore and India have added to a high-level platform for discussing ways to enhance bilateral cooperation.

An apparent cyberattack disrupted internet, phones, email and other systems at Seattle-Tacoma International Airport for a third day on Monday

₹3,000 crore fund infusion to reclaim its spot in the skies as it seeks to emerge from an unending series of struggles that have weighed it down for several years. The airline, which had almost shut down in 2014 due to financial distress, expects to get its grounded aircraft up again as it raises money from multiple sources. But it still has to contend with multiple challenges, including legal hurdles, millions of dollars in unpaid dues, and stiffer competition that has eroded its market share.

Amazon, Jeff Bezos bought a Gulfstream G700, a high-end business jet built by Gulfstream Aerospace that is regarded as one of the biggest and most sophisticated private aircraft in the world, last month. He owns an $80 million private jet. According to reports, Bezos purchased a Gulfstream G700, which is regarded as the world's most sophisticated luxury business jet. Twenty panoramic windows and a whisper-quiet cabin with 100% fresh, plasma-ionized air replenished every two to three minutes are two more features of the G700. The G700 blasted off from Ibiza last Sunday. Also Read: Reacher season 2 DVD, Blu-ray, 4K release date: What we know so far

trainee pilot and his instructor, who were on board the two-seater aircraft, were found in the Chandil dam on Thursday. «The missing Cessna-152 aircraft is still traceless,» Sub-Divisional Magistrate of Chandil Subhra Rani told PTI. An Indian Navy team, that began its search on Thursday, continued the operation on Friday but without success.

regulator Directorate General of Civil Aviation (DGCA) has slapped a fine of ₹90 lakh on Air India for operating a flight on July 9 from Mumbai to Riyadh with an unqualified crew. Besides, the watchdog has slapped fines of Rs 6 lakh and Rs 3 lakh on Air India's Director of Operations and Director of Training, respectively, for the lapse. «Air India Ltd operated a flight commanded by a non-trainer line captain paired with a non-line-released first officer which has been viewed by the regulator as a serious scheduling incident having significant safety ramifications,» the release said.

"Auto industry is 1.4 times compared to its pre-COVID level. So, we have to look at what is relatively better when it comes to the valuation and one should look at in that context, especially at this level of markets," says Shreyash Devalkar, Axis Mutual Fund. Nifty FMCG Index is actually at life-high levels. Is this really a right time to perhaps come up with a consumption fund or are you not concerned about valuations at all? Shreyash Devalkar: Actually in the market, most of the indices or most of the stocks are at their premium valuations and they are at their peak valuations per se. Barring, actually, if you look at the re-rating which has happened across the board. So, it has happened across the board. It is like consumer durable companies, say capital goods companies.

Air India Limited for operating flights with non-qualified crew members. Further, the aviation watchdog also penalized the Director Operations and Director Training of Air India, issuing fines of Rs 6 lakh and Rs 3 lakh respectively. Earlier in March, the airline was fined for violation of pilot rest period rules of DGCA and a penalty of Rs 80 lakh was imposed.

InterGlobe Aviation Ltd. traded 1.73 per cent up at Rs 4559.95 at 10:10AM (IST) on Friday, even as BSE benchmark Sensex dropped 31.85 points to 81021.34. The scrip had closed at Rs 4482.1 in the previous session. The stock quoted a 52-week high and 52-week low of Rs 4610.0 and Rs 2334.95, respectively.

Italian authorities have launched an investigation after two easyJet flight attendants were injured when their flight from Corfu to London’s Gatwick Airport was buffeted by turbulence earlier this week

civil aviation ministry on Thursday announced simplified regulations for seaplane operations, including allowing non-scheduled entities to operate such services and putting in place a simplified certificate process. The relaxed norms are aimed at encouraging seaplane operations under the regional air connectivity scheme UDAN (Ude Desh ka Aam Nagrik). Generally, seaplanes are amphibian aircraft that can take off and land on the sea. Under the relaxed norms of the Directorate General of Civil Aviation (DGCA), there will be no need for a waterdrome license and compliance requirements have also been reduced.

Rakesh Jhunjhunwala to launch a new airline. Jhunjhunwala made a risky bet and invested $35 million for a nearly 40 per cent stake in the airline under his wife’s name. Later, Jhunjhunwala is said to have increased stake with his family now holding around 46 per cent. Many called Jhunjhunwala the Warren Buffett of India for his legendary success in equity markets. If Jhunjhunwala had heeded to an observation once made by Buffett, he wouldn't have put his money into an airline, especially in a new airline in India which is known as the graveyard of airlines for so many of them going bust in initial years. “The worst sort of business is one that grows rapidly, requires significant capital to engender growth, and then earns little or no money. Think airlines. Here a durable competitive advantage has proven elusive ever since the days of the Wright Brothers," Buffett had said in a letter to the shareholders of his company. The risky bet of Jhunjhunwala, who died soon after the launch of the airline in August 2022, has now grown nearly fourfold in value, if a funding proposal is considered which values Akasa at over $350 million, more than four times the valuation at which the initial investment was made by the family of late Jhunjhunwala. ET has reported based on information from sources that a consortium of Premji Invest and Claypond Capital, the family offices of Wipro’s Azim Premji and the Manipal Group’s Ranjan Pai, respectively, are in talks to invest about $125 million for a significant minority stake in Akasa.

InterGlobe Aviation Ltd. gained 3.54 per cent to Rs 4451.2 in Thursday's trade as of 10:04AM (IST). The stock hit a high price of Rs 4471.15 and low of Rs 4377.05 during the session. The return on equity (ROE) for the stock stood at 409.35 per cent. Traded volume on the counter stood at 10:04AM shares and turnover at Rs 8.62 crore around that time. The stock of InterGlobe Aviation Ltd. quoted a 52-week high price of Rs 4610.0 and 52-week low prices of Rs 2334.95, respectively.

18% of their stake since September 2022 and now own less than 20% of InterGlobe Aviation. While investors generally don’t react positively to promoters selling shares, this particular exit seems to have been conducted in a transparent and orderly manner. Investors did eventually absorb Gangwal’s gradual exit in 2023.