Aviat Financial News

Jyotiraditya Scindia on Sunday announced that three new air routes would be operationalised in Arunachal Pradesh by October this year.

Tezu airport in Arunchal Pradesh's Lohit district on Sunday. «A new Terminal Building at Tezu Airport is scheduled for inauguration on September 24, 2023.

Qantas Airways has never been more profitable. But as Australia’s national airline has emerged stronger from the pandemic, it has alienated its most important constituency: Australians. They bemoan that its flights are unreliable and expensive. They are aghast at how government protectionism has made Qantas by far the biggest airline in Australia and pushed up the price of travel.

Akasa Air and its pilots after the budget carrier accused the regulator of inaction, a legal filing shows. Over 40 of Akasa's 450 pilots quit without serving their notice in recent weeks, and the airline has sued some of them and challenged Indian authorities in court for not acting on its requests to deal with alleged pilot "misconduct". The airline has also warned of a shut down due to the crisis.

PNB, Bank of Baroda, or even a small PSU Bank like UCO, Union Bank, or Indian Bank," says Rajesh Palviya, Axis Securities. Edited excerpts.What are the levels that you are looking out for because suddenly we are seeing declines across the board, not only in the midcaps, but also in the frontline index? We have seen significant supply pressure throughout the week, almost a 2.5% cut for the Nifty and now Nifty slipped below to 20-day moving average. Most of the Put writers have shifted their position on the lower side. So, Put writers have now shifted their position at 19,500, 19,400 strikes. That clearly shows that we can see more pressure in the coming trading session as call writers are now acting aggressively, aiding their position at 19,800 and 19,900 strikes. Those levels are likely to act as a major supply zone for any pullback action. Until Nifty does not cross above 19,900, there will not be any significant short-covering action in the market. Only major short covering will come above 19,900. Until we are trading below the 19,800 level, pressure is likely to remain in the system and possibly Nifty can go further down from the current level towards 19,600, 19,550 in the continuation of this down move.

Aviation experts say it was likely a visibility issue that caused two racing pilots to collide in mid-air while preparing to land in Reno last weekend

India market share is one of the highest for any airline in a domestic market across the world. But its larger strategy now is becoming a more global airline from a purely domestic one, Pieter Elbers, who was brought in as chief executive last year from Air France-KLM, tells Arindam Majumder. Edited excerpts:Q. It has been a year of aggressive expansion adding international destinations where Indians hardly travelled before. Are those yielding money? A: It is a strategy that we launched a year ago — that we build our own network, develop partnership, and expand connectivity.

New Delhi: The Delhi High Court on Friday concluded hearing in the plea moved by three aircraft lessors of the grounded Go First airline alleging inadequate aircraft maintenance. The final order in the case is expected in the first week of October. A single bench of the Delhi High Court led by Justice Tara Vitasta Ganju, reserved the order on the plea after concluding the hearing.

Anant Singhal, Team Lead, CAPA India, says “in the first quarter of the fiscal, the airlines witnessed very strong yields. In the current fiscal ending this month, there was a dip of about 15% to 17%. Coming to the next quarter, it again will be robust because demand will increase and we expect some upward swing in fares and in the yields that airlines earn.”There have been a lot of issues related to the aviation industry of late, flight cancellations, pilot resignations. What is indicative of the Indian aviation sector? Will we tide over it soon enough?Before I answer your question, I would like to provide some context. Right now, we have about 135 aircraft of Indian carriers that are grounded. Now, with that in mind, the pilot shortage that we would have expected is somewhat better, because 135 aircraft are on ground. As and when these aircraft start flying again and new inductions come in, the challenge of pilot shortage will likely go up and a lot of airlines are expected to face challenges with this area. Right now, it seems to be somewhat manageable, although lately because of the 40 resignations, about 80% of the schedule had to be cancelled. But overall, from the industry perspective, the issue of shortage of pilots is somewhat manageable, but when these aircraft start flying again it will start creating challenges for the industry.

₹30,231 crore. In an ideal world, bilateral rights are supposed to help airlines from both sides. It allows airlines from respective countries to operate flights within a quota.

By Leah Douglas

(Reuters) — The Federal Aviation Administration issued an alert Thursday warning that unapproved parts might be installed in certain General Electric (NYSE:GE) Model CF6 jet engines, telling owners to inspect planes or inventories for the parts.

₹30 lakh on IndiGo after it found certain systemic deficiencies in the airline’s documentation pertaining to operations, training procedures and engineering procedures. The regulator had also imposed a financial penalty of ₹20 lakh on Air Aisa India in February earlier this year for violation of applicable DGCA Civil Aviation Requirements related to pilot exercises.

Parliamentary panel on Thursday again asked the civil aviation ministry to explain about how the enterprise valuation of Rs 18,000 crore was arrived for the disinvestment of Air India that was completed in January last year. The matter has been mentioned by the Department-Related Parliamentary Standing Committee on Transport, Tourism and Culture in its report tabled in the Rajya Sabha. The report pertains to the action taken by the government on the recommendations/observations of the committee in the report on Demands for Grants (2023-24) of the civil aviation ministry. Tata Group's Talace Pvt Ltd has acquired Air India, Air India Express and a 50 per cent stake in Air India Airport Services Pvt Ltd (AISATS) through the disinvestment process. «The committee notes that the Enterprise Valuation method was adopted for inviting bids for disinvestment of Air India, which afforded the prospective bidders an opportunity to resize the balance sheet.

New Delhi: The Directorate General of Civil Aviation on Thursday said it has implemented new norms related to watch duty hours and rest requirements for air traffic controllers at 57 airports, the regulator said today. The new norms mandate that duty period of air traffic controllers shall not exceed 12 hours and there must be a gap of at least 12 hours between the end of one shift and the beginning of the next shift.

₹21 crore in damages from the pilots for failing to serve the mandatory notice period of six months for pilots and one year for commanders. Damages have been sought on account of revenue loss caused by cancelled flights, reputational loss to the airline, and the costs it had incurred on training the pilots. The airline simultaneously moved the Delhi High Court, asking it to take action against the pilots.

DGCA has suspended Air India's Chief of Flight safety for a period of one month for a period of one month. The decision was taken after DGCA carried out the surveillance of Air India on 25th and 26th July 2023 in areas of internal audit, accident prevention work and availability of required technical man power.

Mayur Milak, Senior Vice President — Auto & Aviation, Asian Markets Securities, says Akasa Ait has cancelled about 600 flights in August and are looking at another 600 cancellations in September. That does not ooze confidence in customers. From IndiGo's point of view, it is good. But this is not great for the industry overall. It needs to be rationalised pretty well going forward.Explain to us what happened at Akasa Air? Why did it happen and what is the possible options available for Akasa Air to go forward from here on?So, from what we hear from reports and from the CEO's message, clearly it seems that there is a pilot issue and this is definitely a big issue. At a time when you are at a fleet of 20 plus and you are looking to expand, if you do not have the necessary crew in place, it obviously creates a lot of havoc and which I think they have clearly mentioned in their petition that they have cancelled about 600 flights in August and are looking at another 600 cancellations in September. That does not ooze confidence in customers.

Prime Minister Rishi Sunak says he’s delaying by five years a ban on new gas and diesel cars that had been due to take effect in 2030

₹21.6 crore compensation, including ₹14.28 crore for damages to the airline’s reputation due to flight cancellations, rescheduling and grounding, ₹6.96 crore for loss of operational profits, and ₹36 lakh related to the pilots’ training agreement. Separately, the airline has also approached the civil aviation regulator, Directorate General of Civil Aviation.

aviation ministry, a person aware of the matter said. “According to the DGCA, Akasa Air is eligible to apply for international scheduled air transport services," the ministry informed the airline. “However, it is also informed that based on traffic rights to be allocated to Akasa Air, scrutiny of country-specific preparedness will be carried out by the DGCA before permitting Akasa Air to operate international operations." Since 2019, Indian airlines have shown strong interest in expanding their presence in the international market due to the potential for higher yields.