Aviat Financial News

BJP MP from Ghaziabad Gen (retd) V K Singh on Sunday said he will not contest the upcoming Lok Sabha elections. The Union Minister of State for Civil Aviation and also for Road Transport and Highways represented Ghaziabad constituency for tow terms since 2014. «I have dedicated my entire life to the service of this nation as a soldier. For the last 10 years, I have worked tirelessly to fulfill the dream of making Ghaziabad a world-class city. In this journey, I am grateful for the trust and love that I have received from the people of the country and Ghaziabad as well as from the members of the BJP. This emotional bond is priceless to me,» Singh posted in Hindi on X. «With these feelings, I have made a difficult, but thoughtful decision. I will not contest the 2024 elections. This decision was not easy for me, but I have taken it from the bottom of my heart. I want to take my energy and time in new directions, where I can serve my country in a different way,» Singh added.

India has «incredibly affordable» airfares and the country's aviation market has the kind of growth potential where Akasa Air as well as other carriers can do well, according to the nearly two-year-old airline's chief Vinay Dube. As Akasa Air prepares to take the international skies on March 28 with the first overseas flight from Mumbai to Doha, Dube also asserted that the airline is not about «marketing gimmicks». Akasa Air is aiming to be among the world's top 30 airlines by 2030 and will go public in future. «We think we have a great financial future. Listing is in our future… but you never say never. We hope to list some day,» he told PTI in an interview this week. While acknowledging that aviation competition has always been intense, he said that as long as the focus is on fundamentals, there is enough room not just for Akasa Air to thrive in the future but for others as well.

(Reuters) -The U.S. Federal Aviation Administration is considering measures to curb growth at United Airlines, including preventing the carrier from adding new routes, following a series of safety incidents, Bloomberg News reported on Saturday.

By David Shepardson and Rajesh Kumar Singh

Mohamed Muizzu has struck a reconciliatory tone, saying India will continue to remain his country's «closest ally» and urged New Delhi to provide debt relief to the archipelago nation. The Maldives owed approximately USD 400.9 million to India by the end of last year. Ever since he took oath as the president in November last year, the pro-China Maldivian leader has pursued a hardline stand towards India and within hours had demanded that Indian military personnel operating three aviation platforms be repatriated from his country by May 10. On Thursday, in his first interview with the local media since assuming office, Muizzu said India was instrumental in providing aid to the Maldives and has implemented the «greatest number» of projects.

₹80 lkah to Air India Limited for violation of regulations pertaining to Flight Duty Time Limitations (FDTL) and fatigue management system (FMS) of flight crew. "DGCA has imposed a financial penalty of Rs. 80,00,000 (Rupees eighty lakhs) to Air India Limited for violation of regulations pertaining to Flight Duty Time Limitations (FDTL) and fatigue management system (FMS) of flight crew," PTI quoted DGCA as saying.

InterGlobe Aviation Ltd. traded 0.15 per cent higher in Friday's session at 01:09PM (IST). The stock opened at Rs 3300.05 and has touched an intraday high and low of Rs 3327.55 and Rs 3266.65, respectively, during the session so far. The stock quoted a 52-week high of Rs 3339.0 and a 52-week low of 1810.45. About 9,792 shares changed hands on the counter so far.

Akasa Air doesn’t see any curtailment of flights due to the new pilot rest rules even though it has planned an exponential growth and international foray this summer, CEO Vinay Dube. Dube is a co-founder of the airline which started in 2022 and is backed by the family of late stock market investor Rakesh Jhunjhunwala. “We should rather applaud the regulator for their continuous focus on safety rather than talking if there will be two or three pilots short. We have 24 aircraft and around 700 pilots now which is plenty not just for the current fleet but also for the aircraft that will be delivered later. We will maintain a reliable schedule and there will be no flight cancellations,” Dube said.

Indian airlines are gearing up for an increased flight frequency as they prepare to operate 24,275 weekly domestic flights during the upcoming summer schedule, starting from March 31. This marks a nearly 6 percent surge compared to the corresponding period last year.

An Amsterdam court has ruled that Dutch national airline KLM made misleading statements about sustainable aviation in a case that accused the carrier of “greenwashing.”

A Dutch court says the government has systematically put the interests of the aviation sector above those of people who live near Amsterdam's Schiphol Airport

₹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.

Aircraft lessor Wilmington Trust SP Services has moved NCLAT, filing an appeal against an earlier order of NCLT, which had dismissed its insolvency plea against low-cost carrier SpiceJet. Wilmington Trust's petition has been listed for hearing on Thursday before a bench headed by the Chairperson Justice Ashok Bhushan of the National Company Law Appellate Tribunal (NCLAT). Earlier on January 29, the Delhi-based bench of the National Company Law Tribunal (NCLT) dismissed the insolvency petition filed by Wilmington Trust SP Services against SpiceJet. Wilmington, the aircraft lessor based in Dublin, Ireland had moved the insolvency plea against SpiceJet in June 2023 over unpaid dues.

Chinese accident investigators have indicated they have not yet determined the cause of a 2022 plane crash that killed all 132 people on board

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.

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.

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.

InterGlobe Aviation Ltd. rose 1.35 per cent to Rs 3292.0 at 10:00AM hours (IST) on Tuesday. Earlier in the day, the stock saw a gap up start to the session. As per data available on BSE, total traded quantity on the counter stood at 18,546 shares with a turnover of Rs 6.13 crore till 10:00AM (IST). The stock traded at a price-to-earnings (P/E) multiple of 17.75, while the price-to-book value ratio stood at -11.79.

MUMBAI : The billionaire Burman family has questioned the process of appointing former Delhi Police commissioner Rakesh Asthana as a director on the board of Religare Enterprises Ltd, calling it a breach of listing rules. The Burmans, locked in a battle for control of Religare where they own more than 25%, have written to the market regulator that the company erred in not getting Asthana's 2 November appointment as whole-time executive director cleared by shareholders within the mandatory three months.

By Peter Frontini