Aviat Financial News

Aviation sector traders on Wednesday morning were ... moreAviation sector traders on Wednesday morning were spooked.

Adani Ports: Two promoter entities have raised shareholding in Adani Ports and Special Economic Zone Ltd by over 2 per cent. As per the information shared by the company with Indian stock market exchanges two promoter entities Resurgent Trade and Investment Ltd and Emerging Market Investment DDC have acquired fresh stakes in Adani Ports via the open market.

Petrol and diesel sales by state-run oil companies fell 8% and 6% respectively over the last year in the first half of August as the private sector fuel retailers clawed back market share and as heavy rains affected mobility and industrial activity in some parts of the country. Compared to the first half of July, state-run oil companies sold 5% less petrol and 9.5% less diesel in August, the data showed.

parliamentary panel has recommended setting up a specialised security agency for airports with more than one-sixth of CISF units exclusively deployed there. This should be done by the civil aviation ministry in consultation with the Ministry of Home Affairs, it said. As airports owe more than Rs 4,700 crore to the Central Industrial Security Force (CISF) — of which over Rs 3,000 crore is from 16 joint venture airports — the parliamentary standing committee on transport, tourism and culture chaired by YSR Congress leader V Vijaysai Reddy has sought reasons for it and ask for its earliest clearance. Noting that 66 units of CISF or 18.7% of its total units are deployed at airports only, the panel in its report highlighted the need for a separate security agency as the civil aviation sector has seen an exponential growth and will grow at a faster space in near future, which will enhance the need for manpower to provide security. “The Committee, therefore, recommends that the Ministry of Civil Aviation may examine the feasibility of setting up a specialized security agency for airports only, in consultation with the Ministry of Home Affairs,” the report states.

Atlantic City Airshow returns, featuring flight wonders on the Jersey Shore. The event highlights antique planes, aerobatics, parachuters and military prowess. The Thunderbirds headline with aerial stunts. The free event is on August 16 from 11:30 a.m. to 4 p.m. The Atlantic City Airshow offers a dynamic display of aviation feats, honoring service personnel and delivering a boost to the local economy. Visitors can enjoy a range of performances and exhibits, all against the picturesque backdrop of the Jersey Shore. The U.S. Air Force Demonstration Squadron, The Thunderbirds, is the headline act, performing precise aerial maneuvers with Lockheed Martin F-16 Fighting Falcons.

New Delhi: Pilot training institution, Redbird Aviation, is considering acquisitions of overseas assets, as a part of its expansion strategy to address increasing demand for pilots in India, and boost its fleet size. The company’s objective is to mitigate the impact of supply chain challenges on availability of aircraft, senior executives of the company said. “We acquired a flying school in Colombo, Sri Lanka, which has seven airplanes.

₹717.6 crore in a bulk deal, according exchange filings. GQG Partners alone bought almost 1% stake or 16.7 million shares in JSW Energy for ₹571.4 crore, while a bunch of other investors bought the remaining stake. The energy firm’s shares touched an intraday high of ₹369.90 apiece before closing 6% up at ₹368 apiece on the BSE.

By Allison Lampert

Moneycontrol, the employees have not received salaries for the last three months of May, June, July. The employees have started to look for jobs in other areas. According to senior executive of Go First, around 150 employees which includes 30 pilots and 50 cabin crew members as well are planning to resign in the next two weeks as reported by Moneycontrol.

IndiGo, owned by InterGloble Aviation, stated on August 16 that they will start flight services between Almaty and Delhi from September 23, 2023, onwards. This will be IndiGo’s 32nd international destination and the 111th overall station within the extensive 6E network.

InterGlobe Aviation shares tanked 4.6% in trade on Wednesday as IndiGo co-founder Rakesh Gangwal offloaded 5.1% or around two crore shares in a block deal in early trade. The floor price for the offer was presumed to be set at Rs 2,400 apiece, which would come in at a 5.8% discount to Monday’s closing price of Rs 2,549. 

₹2,425.00 apiece on the BSE. According to deal terms seen by Mint, IndiGo co-founder Rakesh Gangwal and his family were to sell around 4% stake in InterGlobe Aviation Ltd for up to $450 million ( ₹3,370 crore). The deal was said to happen at a floor price of ₹2,400 each, a 5.8% discount to Monday’s close of ₹2,549.

Two years after the Taliban takeover of Afghanistan, the United States has begun easing rules that could allow commercial airlines to fly over the country in routes that cuts time and fuel consumption for East-West travel

China Sea, and in the recent transfer of naval aviation assets into the hands of the PLA Air Force. On 5 August, forces of the PLA Navy (PLAN), China Coast Guard (CCG) and People's Armed Forces Maritime Militia combined to prevent Philippine Coast Guard vessels from resupplying a dozen marines aboard BRP Sierra Madre, a rusting vessel that forms a Philippine military outpost at Second Thomas Shoal in the Spratly Islands.

InterGlobe Aviation: Private airliner IndiGo Airlines' promoter Gangwal family is all set to sell its shares worth ₹3,730 crore through a block deal on 16 August, reported ET citing the term sheet. According to the report, the family has put 15.6 million shares on the block with a floor price of ₹2,400 per share, which is a 5.8% discount to the closing price of Monday. The deal's lenders are Morgan Stanley, JPMorgan, and Goldman Sachs.

ITC Ltd exceeded market expectations on Monday by reporting a robust 17.5% surge in its standalone net profit for the June quarter, benefiting from reduced expenses. Nonetheless, the company faced challenges as an ongoing prohibition on wheat exports and a more recent ban on rice exports led to a 7.2% decline in standalone revenue for the quarter, which amounted to ₹16,995.49 crore as compared to ₹18,320.16 crore in the corresponding period last year.Renowned for its Gold Flake cigarettes and Bingo chips, ITC Ltd achieved a net profit of ₹4,902.74 crore for the quarter ending on June 30, surpassing the ₹4,169.38 crore recorded a year prior.

MUMBAI : IndiGo co-founder Rakesh Gangwal and his family will sell around 4% stake in InterGlobe Aviation Ltd for up to $450 million ( ₹3,370 crore) on Wednesday, according to deal terms seen by Mint. The block sale is part of Gangwal’s plans to cut his stake in InterGlobe Aviation, which operates IndiGo, India’s largest airline. In terms of value, this will be the largest block deal yet by Gangwal, who began selling his shares in the past 12 months.

Qantas’ investments in its fleet have been made at “a significant cost” and the aviation industry is still struggling to bring back capacity, meaning the government must prioritise protecting aviation jobs over its obligations to consumers, the transport minister says.

India's population growth and economic development requires robust infrastructure in roads, railways, aviation & ports etc. There has been emphasis on balanced development in all sectors of infrastructure whether it is roads, railways, ports, real estate, water, aviation, energy or even buildings of national importance. India on cusp of returning to high growth trajectory, will become world’s third largest economy by 2027-28 as mentioned by Arvind Panagariya, Eminent economist.

Industrial conglomerate Esmark says it has made an all-cash bid to buy U.S. Steel that values the iconic steelmaker at $7.8 billion

Federal officials are looking into another close call between planes, this time in San Diego