Aviat Financial News

The first Black pilot hired at a major U.S. airline has died at age 89

AirAsia chief Tony Fernandes plans to seek fresh funding in Southeast Asia’s equities markets after a much-touted SPAC listing in the U.S. later this year. Options for fundraising include revisiting plans for an initial public offering of aviation assets in the Philippines, doing a share placement in Indonesia, and eventually listing a host of nonaviation units, Fernandes said in an interview.

By David Shepardson

Shares of Southwest are plunging as the airline said that it plans to reduce capacity and reevaluate its full-year financial outlook because of fewer expected aircraft deliveries from its supplier, Boeing

NEW DELHI : Jet Airways received a glimmer of hope for its revival after an appellate tribunal directed the bankrupt airline’s lenders to hand over the company to its successful bidder, the Jalan-Karlock consortium, within 90 days. The National Company Law Appellate Tribunal on Tuesday also upheld the resolution plan for Jet Airways, which has been grounded since 2019 amid mounting debt and a liquidity crisis. The National Company Law Tribunal had in January 2023 allowed the handover of Jet Airways’ ownership to the Jalan-Karlock consortium.

air passenger market by 2030, after China and the US, as per the International Air Transport Association (IATA). The aviation market, estimated at $13.5 billion in 2024, is projected to reach $23.2 billion by 2029, implying a compounded annual growth rate (CAGR) of 11.4% during 2024-2029. No nation in the world is buying as many aeroplanes as India.

₹60.57 apiece on BSE. The stock touched an intraday low of ₹54.60 and a high of ₹60.58 apiece.

Bharti Airtel: The telecom major is anticipated to be the frontrunner in the forthcoming auction of eight spectrum bands, given that Reliance Jio has already made substantial acquisitions in the 2022 auctions and Vodafone Idea is currently grappling with financial constraints. The auction is scheduled to commence on May 20. Bharti Airtel is expected to renew its licenses for 42MHz of spectrum in the 1800MHz and 900MHz bands across six circles.

By David Shepardson

Domestic airlines are anticipated to report a decreased net loss of Rs 3,000 to 4,000 crore in the current and next financial years, boosted by robust passenger traffic growth and pricing discipline, according to a report released on Monday (March 11). 

Enforcement Directorate (ED) on Monday said that it had attached ₹10.29 crore of Trinamool Congress, in the form of a demand draft tendered by the party, during an investigation into alleged money laundering by Alchemist Group and others. The federal probe agency alleged that around ₹10.29 crore was used by Alchemist Group—accused in the money laundering case—for making payments to aviation companies on behalf of the TMC during the campaigning for the 2014 Lok Sabha elections.

MUMBAI : IndiGo co-founder Rakesh Gangwal on Monday offloaded a larger-than-anticipated 5.8% stake in InterGlobe Aviation Ltd, the parent company of the airline, through a block deal on BSE. This sale follows previous divestments by Gangwal and his family, indicating a gradual reduction in their shareholding in the company.

(Reuters) — Pilots at Qantas Airways units Network Aviation and QantasLink will conduct a fresh strike this week as they continue to demand for higher pay, the Australian Federation of Air Pilots said on Monday.

Adani Enterprises: Karan Adani, MD of Adani Ports and Special Economic Zone, announced on SUnday that the Adani Group is set to invest approximately ₹60,000 crore in the expansion of its seven existing airports over the coming 5-10 years. He said that about half of this investment will be directed towards enhancing terminal and runway capacity within the next five years. The remaining funds will be allocated for the city-side development of the airports over the subsequent decade.

(Reuters) — Delta Air Lines Inc (NYSE:DAL) expects the deliveries of Boeing (NYSE:BA) Co's 737 Max 10 aircraft to be pushed out to as late as 2027, as the planemaker faces federal safety and criminal reviews, Bloomberg News reported on Sunday.

₹60,000 crore to expand the seven existing airports in its portfolio over the next 5-10 years, Karan Adani, MD of Adani Ports and Special Economic Zone Ltd, said. About half of the investment would be pumped into terminal and runway capacity over five years, and the rest would be invested in city-side development of the airports over a period of 10 years, Adani said on the sidelines of an event. These investments will be in addition to the ₹18,000 crore that the group plans to invest in Navi Mumbai airport.

Vistara was plagued with sudden mass sick leave reported by pilots that impacted its flight operations across India leading to the cancellation and delay of flights. The delay was also caused due to the mandatory maintenance requirements for some aircraft and other operational reasons. As of now, over a dozen flights have been cancelled, and a large number of Vistara flights have been delayed for over a week.

airport projects, entailing a total capital expenditure of Rs 9,800 crore and includes new terminal buildings at 12 airports such as Delhi, Lucknow Airport and Pune. «Earlier, during the election season, people made announcements. No one asked them about the status of these projects...Before elections, they would come and lay the foundation stone. Foundation stones used to get lost, so would the politicians,» Modi said. «You must not look at this matter from the lens of general elections...This is a journey for development, and by 2047, I aim to make India a developed country,» he added.

Also read | PM Modi schedule today: Several airport projects across states to foundation stone in UP | 7 points The GMR group stated that with the expansion, "Delhi Airport now stands among elite global hubs, boasting a 100 MPPA capacity. The integration of Arrival and Departure terminals is not just architectural; it's a transformative journey, resonating with India's ambition and connecting the nation to the world." Also read | ‘Doosri mitti ka insaan..’, says PM Modi as he inaugurates 15 airport projects, including New Delhi's Terminal 1 "Through this project, we have reimagined a seamless journey facilitated by facial recognition, self-service kiosks, and automated baggage systems.

Terminal 1 of Delhi Airport to the nation, the GMR-led DIAL has prepared to operationalize the revamped Terminal 1, the GMR group said. Prime Minister Narendra Modi on Sunday inaugurated 15 airport projects, including 12 new terminal buildings of almost worth Rs 10,000 crore in Uttar Pradesh's Azamgarh, marking the event to be the single biggest infra addition that will see a mix of new airports, expanded terminals, laying of foundation stones for upcoming airports and other related facilities. The project launched by PM Modi includes 12 new terminal buildings of Pune, Kolhapur, Gwalior, Jabalpur, Delhi, Lucknow, Aligarh, Azamgarh, Chitrakoot, Moradabad, Shravasti and Adampur Airports, along with laying of the foundation stone for new terminal buildings of Kadapa, Hubballi and Belagavi airports on Sunday.

Delhi High Court has issued a show-cause notice to the resolution professional of crisis-hit 'Go First' airline, asking why contempt proceedings should not be initiated against him for prima facie willfully disobeying judicial orders on allowing inspection and maintenance of lessors' aircraft. The high court said the RP (Resolution Professional) cannot plead difficulties in the implementation of the October 12, 2023, judgment after contempt proceedings have been filed by a lessor seeking to enforce court orders. «Prima facie, the orders of this court have been wilfully disobeyed by the respondent/ RP. Issue notice to show cause as to why proceedings of contempt be not initiated...,» Justice Tara Vitasta Ganju said. The counsel for the RP submitted that he was willing to revert to the position regarding the maintenance of the aircraft.