Aviat Financial News

Stock market today: SpiceJet share price today witnessed buying interest as the aviation company has declared to have settled down ₹93 crore dispute with the aircraft leasing company Cross Ocean Partners. Both the companies made a joint announcement before the Delhi High Court on Tuesday.

SpiceJet on Tuesday said that it has settled Rs 93-crore dispute with one of its aircraft lessor Cross Ocean Partners. SpiceJet said that as part of the arrangement, the airline will also benefit from transfer of airframe and an engine at no additional cost, augmenting its operational capabilities. The carrier last week said that it has mutually settled a Rs 250 crore dispute with another lessor Celestial Aviation.

Ujjaini Mahankali temple in Secunderabad, Telangana. Later, the Prime Minister will inaugurate and lay the foundation stone of development projects worth more than Rs 6,800 crores. These projects encompass multiple key sectors like road, rail, petroleum and natural gas. According to the Prime Minister's Office, the PM will inaugurate and lay the foundation stone for three National Highway projects.

American Airlines is ordering 260 new planes to meet growing travel demand and increase the airline’s supply of premium seats

Federal regulators say they have found multiple instances in which Boeing and its key supplier lack adequate measures to control for quality in the manufacturing of jetliners

NCLT) on Monday reserved its order in the matter related to Dublin-based aircraft lessor Aircastle Limited’s insolvency petition against budget airline SpiceJet. SpiceJet’s counsel has cast doubt over the maintainability of Aircastle’s petition as the latter had filed a separate petition under the Insolvency and Bankruptcy Code, 2016 (IBC) against the Gurgaon-headquartered carrier. The counsel for Aircastle has argued that both petitions deal with separate cases of default by SpiceJet. The second case is listed for hearing on April 22.

By David Shepardson

Canada treats its aviation industry as a cash cow, when it should be considered an essential service, says an airline expert.

By David Shepardson and Aatreyee Dasgupta

Supreme Court on Monday stayed a Delhi High Court order that summoned the Ministry of Civil Aviation secretary, the Airport Authority of India (AAI), the chairmen and managing directors of GMR IGI Airport and of Delhi International Airport Ltd (DIAL) and the Hotel Corporation of India (HCI) chairman in a case related to the termination of a lease for land given to the Hotel Corporation of India. A Bench led by Chief Justice DY Chandrachud while issuing notice to DIAL and others on three separate appeals filed by the AAI, the ministry and the HCI stayed the HC’s February 22 order that asked the top brass to remain “personally” present in the court on March 6. Terming the HC order as «erroneous» and liable to be set aside, the ministry told the SC that it was not a party to either the lease agreement between the AAI and HCI or the agreement between the former and DIAL. It also said that the initial decision to issue termination notice was also taken solely by the authority and the ministry only acted as a “facilitator” for resolving the dispute. «In fact, the AAI only sought advice from the ministry and the opinion was given by the ministry in terms of the lease agreement between the AAI and HCL,” the appeal stated.

Defence Minister Rajnath Singh is set to inaugurate several infrastructure projects at the Indian Navy's strategically located base in Karnataka's Karwar on Tuesday. These projects, developed under Project 'Seabird,' aim to enhance India's long-term security interests in the Indian Ocean region. Expansion of Naval Base The infrastructure projects to be inaugurated by Singh include two major piers and seven residential towers comprising 320 houses for naval officers and defence civilian personnel. The expansion of the naval base is crucial for accommodating a growing fleet and enhancing operational capabilities.

Boeing is in talks to buy Spirit AeroSystems, which makes fuselages for Boeing 737 Max jetliners

₹56,000 crore in Adilabad. This move targets the power, rail, and road sectors, aiming to juice up infrastructure and energy supply. During his visit, PM Modi will launch the enhanced Sanathnagar - Moula Ali rail line, now with double tracks and electrification, plus six new station buildings in Ferozguda, Suchitra Centre, Bhudevi Nagar, Ammuguda, Neredmet and Moula Ali Housing Board stations.

By Danial Azhar and Mandy Leong

NTPC projects on March 4, 2024, signalling a significant leap towards sustainable development and economic growth, an NTPC statement said. Modi will dedicate Unit -2 (800 MW) of NTPC's Telangana Super Thermal Power Project (Stage-I) located in the Peddapalli district of Telangana. With an investment of Rs 8,007 crore, this project utilises ultra-supercritical technology, ensuring optimal power generation efficiency while significantly reducing CO2 emissions.

195 candidates for the upcoming Lok Sabha elections here in the national capital on March 2. While at least 42 of the candidates who were elected to Parliament in 2019, have been replaced with new names, the party has also fielded at least ministers who are currently Rajya Sabha members. Among the big BJP ministers, who are Rajya Sabha members and will contest elections include Union Health Minister Mansukh Mandaviya who will be contesting from Porbandar in Gujarat and junior IT minister Rajeev Chandrasekhar, who will contest from Thiruvananthapuram seat, which is held by the Congress leader Shashi Tharoor.

Boeing said Friday that it is in "preliminary discussions" to buy Spirit AeroSystems, which builds fuselages for Boeing 737 Max jetliners, including the one that suffered a door-panel blowout on an Alaska Airlines flight in January. Boeing used to own Spirit, and it said that bringing the manufacturer back into the Boeing fold would improve plane quality and safety, which has come under increasing scrutiny by regulators, Congress and airlines.

(Reuters) — The latest black eye for Boeing's (N:BA) top-selling 737 MAX aircraft occurred in January when a cabin panel blowout forced an Alaska Airlines flight to make an emergency landing.     U.S. regulators briefly grounded certain planes for safety checks, a move less severe than the grounding of all MAX-family jets worldwide nearly five years ago following a pair of fatal crashes.

By Abhijith Ganapavaram, Allison Lampert and Valerie Insinna

₹4,600 a metric ton from ₹3,300 with effect from March 1, according to a government order released on Thursday, February 29. The government also cut the windfall tax on diesel to zero from 1.50 per litre effective March 1, the order showed. The tax on petrol and aviation turbine fuel will continue to be zero.

Directorate General of Civil Aviation (DGCA) has imposed a financial penalty of Rs 30 lakhs on Air India following a February 16 incident of non-availability of a wheelchair to an 80-year-old passenger who collapsed and died after walking from the aircraft to the airport terminal at Mumbai. The incident happened at the airport on February 12 after the passenger landed in an Air India flight from New York. A financial penalty of Rs.30 lakh has been imposed on Air India as per Aircraft Rules, 1937 for violating the provisions of the aforementioned regulations, DGCA said in a statement Thursday.