Aviat Financial News

₹10 to Re 1 on August 11, 2023. Here we list out details in regard to the some of the dividend stocks: RITES Ltd: The company has declared an interim dividend of ₹3.7500. It will trade ex-dividend on August 7, 2023.

Rick Britten spent $11,000 with Qantas on a Top End business class trip for himself and his wife in late 2020 only to have it cancelled because of COVID-19 lockdowns. It was annoying, but nothing compared trying to claim the travel vouchers the airline gave him as credit.

Federal investigators say the pilot of a charter jet took off without permission, causing an approaching JetBlue plane to cancel its landing at the last second

NEW DELHI : The air freight sector is navigating a transition at a time the world is recovering from the covid pandemic and the intensified Russia-Ukraine conflict, Blue Dart Express Ltd managing director Balfour Manuel said. Unpredictable demand from the US and Europe, compounded by domestic disturbances, has posed difficulties for India’s air cargo sector, Manuel said in an interview, adding the company’s outlook remains buoyant for a bounceback in freight volumes. “Air cargo trade from India is facing challenges due to demand fluctuations from the US and Europe, along with certain domestic disruptions.

Nirmala Sitharaman announced an excise duty cut on petrol and diesel. The prices have remained stagnant despite a decline in international crude price over the past one year. The decision of state-run OMCs not to cut oil prices, however, has drawn criticism for the government from the opposition as inflation has been on the rise.

New Delhi: The National Company Law Tribunal (NCLT) today asked the Go First management to submit a maintenance report of aircraft along with additional affidavits within the next 10 days. The NCLT’s observation came during the hearing of a plea of aircraft and engine lessors on Friday.

Indigo crossed a significant milestone in its history by reaching 1,900 flights per day on its 17th anniversary. IndiGo's 17th anniversary is a testament to the unwavering support and trust our customers have placed in us, said Pieter Elbers, CEO of IndiGo. “These achievements over the years have been made possible by the unwavering dedication and professionalism of our 6E stars for which I would like to sincerely thank each and every one of them,” he added. The airline has come a long way from launching its inaugural flight in 2006 to etching its name in history on June 19 this year by bagging the largest order in aviation history of 500 A320 aircraft. The order solidified the company’s position as the airline with the biggest order in the industry. IndiGo had unveiled its first A321, a longer version of A320 aircrafts on December 27, 2018. Just a month before this deal, the airline had set a new record with the maximum number of 3 lac customers per day in May.

₹3,090 crore in Q1 2023-24. The performance review process for nearly 4,500 flight crew has begun, and the new salaries will be effective from October 1, an Economic Times report cited With over 60% of India's domestic market share, the airline reported its highest-ever quarterly profit. “While we regained and started to build our financial strength over this past year, we reviewed and reinstated salaries and allowances to pre-Covid levels.

In its recent decision, the Delhi High Court on Thursday, said that scheduled maintenance cannot be considered as a reason to include flying of aircraft and restrained crisis-hit Go First airline to continue with maintenance flights. In its judgement the High Court said that the resolution professional (RP) appointed under the insolvency law to manage the airline has not been able to show any urgency or grave imminent threat to led the aircraft to fly maintenance flights without any prior notice.

InterGlobe Aviation's decision to expand its presence on international routes is timely considering the rising competition in the domestic market where it already controls over 60% share. Given the factors such as network expansion, capacity deployment, and a possible benefit of tax loss, analysts have raised the earnings per share (EPS) forecast for FY25 by as much as 38% (Emkay). The stock fell by 4.7% on Thursday on the BSE.

data communication services provided by entities other than the Airports Authority of India (AAI) as issues around service license and methodology of spectrum allocation such as auction etc remained untouched in the previous process. On December 12 last year, the Telecom Regulatory Authority of India (Trai) had issued a consultation paper on the matter, asking for suggestions regarding the mechanism of providing spectrum to IT and communication vendors to the Indian aviation industry – Société Internationale de Telecommunications Aeronautiques, (SITA) and Bird Consultancy Services (BCS).

Alan Joyce on Thursday dismissed as “nonsense” the suggestion Qantas exchanges benefits for favours from the Albanese government, and declined to comment on who gets access to the airline’s coveted Chairman’s Lounge.

₹5.18, it was down 1.2% year-on-year. Adding to the woes is the rise in prices of aviation turbine fuel (ATF). “We cut our Ebitdar (earnings before interest, tax, depreciation, amortization and lease rentals) estimates by about 7% each for FY24/FY25E as yields are witnessing higher pressure on sequential basis (as compared to past) while ATF prices have increased by about 11% in last 2 months," said analysts at Prabhudas Lilladher in a report on 2 August.

InterGlobe Aviation (IndiGo) share price fell over 5 per cent in morning trade on BSE on Thursday a day after the company reported record quarterly profit for the June quarter of the current financial year (Q1FY24). The stock opened at ₹2,630 against the previous close of 2,565.75 and soon fell 5.3 per cent to the level of ₹2,430.15. The stock hit its 52-week high of ₹2,745.95 on July 13 this year and a 52-week low of ₹1,676 on November 9 last year on BSE.

₹6,765.5 crore in the first quarter of the fiscal year 2023-24 as compared to a net loss of ₹8,557 crore in the same period last year. The company’s net profit increased by 87.5% from ₹3,608.3 crore in the quarter ending March 2023. HPCL’s revenue fell to ₹1.18 lakh crore in Q1FY24 from ₹1.21 lakh crore a year ago.

Mankind Pharma, Jefferies retained an underperform rating on HPCL, Morgan Stanley had a buy call on Indigo and HSBC maintained a buy on Titan Company. We have collated a list of recommendations from top brokerage firms from ETNow and other sources: Morgan Stanley on M&M Finance: Equal-Weight| Target Rs 300 Morgan Stanley maintained an equal-weight rating on M&M Finance with a target price of Rs 300. Disbursements and collections remained strong in July. Collection efficiency in July was also marginally better.Macquarie on Mankind Pharma: Outperform| Target Rs 1450 Macquarie maintained an outperform rating on Mankind Pharma with a target price of Rs 1450.

economy, this “Ozanada" would be the world’s fifth-largest, bigger than India and just behind Germany. Considering the two in tandem is not as nutty as it seems. Weather aside, they have a remarkable amount in common.

Hero MotoCorp: Enforcement Directorate seized cash and jewellery worth ₹25 crore during raids against top officials of Hero MotoCorp. The law enforcement agency also found "incriminating" documents in the residences and offices of executive chairperson Pawan Kant Munjal and others. This comes a day after ED conducted searches at Chairman Pawan Munjal's premises on August 1 located in Delhi and neighbouring Gurugram, and also registered a case against him under the Prevention of Money Laundering Act (PMLA), reported news agency PTI.

Tata Sons, the group holding company, invested an estimated ₹13,000 crore in Air India in FY23 through wholly owned subsidiary Talace, they added. This excludes the investment committed for 470 new aircraft ordered in June from Airbus and Boeing as the new owner embarks on the national carrier's transformation, which includes fleet renewal, a design refresh and upgraded services to compete with the likes of Emirates and Qatar Airways. Tata took over Air India in January 2022 after it was privatised.

The Indonesian government bought 12 drones worth $300 million from Turkish Aerospace as part of efforts to strengthen archipelagic country's defense system

NEW DELHI : InterGlobe Aviation Ltd, the operator of India’s largest airline IndiGo, reported record quarterly profit and revenue on robust demand for air travel, lower fuel costs, and favourable foreign currency movement. Net profit rose to ₹3,090.6 crore in the quarter ended 30 June from a loss of ₹1,064.3 crore. Total income rose by 32% to ₹17,161 crore from a year earlier.