Aviat Financial News

Hundreds of Airbus jetliners will require inspections after a new problem with their Pratt & Whitney engines, adding another potential airline disruption during busy summer travel. Pratt parent RTX said recently discovered contamination in the metal used to make some engine parts required the planes to be inspected to check if repairs were required. The contamination could cause cracks to form in critical engine parts.

Fly91, a new airline helmed by top aviation veterans has been allocated its first set of routes under the Government of India’s Regional Connectivity Scheme (RCS) UDAN. The routes given under UDAN 5.0 will see FLY91 connect the cities of Sindhudurg, Jalgaon, Nanded and Agatti with business and leisure destinations of Bangalore, Goa, Hyderabad and Pune.

Jyotiraditya Scindia on Tuesday said the aviation sector has seen an exponential growth in the last few years with the fleet size expanding from 400 aircraft in 2013 to 700 now and this number is likely to rise up to 1,500 in five years. Attending a summit here, Scindia launched UDAN (Ude Desh ka Aam Naagrik) 5.2 programme for small aircraft, aimed at enhancing air connectivity to remote areas of the country, and a mobile application for chopper operators to seek approvals from government authorities. The UDAN 5.2 programme and the HeliSewa app were launched by the minister in Khajuraho in Madhya Pradesh while inaugurating the 5th Helicopter & Small Aircraft Summit (Heli Summit 2023) and three Flight Training Organizations (FTOs). «We today started UDAN 5.2 programme for small aircraft. We have awarded 22 routes, which underlines the fact that air travel facilities are being made available to citizens living in remote areas under the leadership of Prime Minister Narendra Modi,» Scindia said at the event. Speaking about HeliSewa, the minister said it is a single window service platform for helicopter operators who will be able to get all approvals from ATC (air traffic control) on mobile phone.

By Rajesh Kumar Singh and Abhijith Ganapavaram

Former productivity commission chairman Peter Harris has dismissed suggestions that Australia can only sustain two airlines as the “height of absurdity”, declaring that resetting slots at Sydney Airport will boost competition and lead to better consumer outcomes.

SpiceJet shares jumped nearly 5% to the day's high of Rs 31 on the BSE after the budget airline company was removed from the enhanced surveillance regime of the aviation regulator. Aviation watchdog DGCA has taken SpiceJet off its enhanced surveillance regime, PTI reported quoting a senior official. The senior DGCA official said that in view of the observations made in the past concerning inadequate maintenance and in view of the incidents during the monsoon season last year, SpiceJet was placed under enhanced surveillance.

Air India flight bound for Mumbai from Bengaluru faced an unexpected 10-hour delay at Kempegowda International Airport (KIA). Frustrated travelers were left waiting near the departure gates with no clear information about the cause of the delay, leading to growing unease.

airport minutes after take-off due to a technical snag, airport authorities said as reported by PTI.  As per Calicut airport official, Flight WY 298 with 169 people onboard took off from the Karipur airport at 9.15 am. The flight turned back barely a few minutes into its journey due to a technical fault and landed safely, airport official said as reported by PTI.  "It was a normal landing..

Go Airlines' lenders as a party to their pleas for the deregistration of planes leased to the carrier, arguing before the Delhi High Court that the lenders are neither «proper» nor «necessary parties» in the case. Justice Tara Vitasta Ganju, while issuing formal notices to the aircraft lessors, the Directorate General of Civil Aviation and others, said the issue needed examination. Eight leasing companies are seeking deregistration and return of their aircraft. The HC posted the lenders' application for impleadment in the matter for hearing on August 3. The committee of creditors (CoC) formed for the airline's debt resolution has sought to be made a party to the case filed by the lessors, claiming that it is the «ultimate decision-making authority». Counsel Dheeraj Nair, appearing for the CoC, said any order passed in the case will pose a risk of lessors' interests getting priority over those of lenders. He argued that the CoC, which includes Central Bank of India, Bank of Baroda, Deutsche Bank, DB International Asia and IDBI Bank, has admitted claims of '5,117 crore. «There is a large exposure to public monies that is sought to be recouped by way of the CIRP (corporate insolvency resolution process) of the airline and its revival is essential in the larger national interest,» he contended.

Delhivery, which has challenged the beleaguered airline's voluntary insolvency, its counsel informed the National Company Law Tribunal (NCLT) on Monday. «We are looking at settling with them,» the counsel submitted before the NCLT, while seeking more time to complete the talks.

New Delhi: The consumption of petr-oleum products in India during April-June rose 4.9% to 58.8 million metric tonne. During the same period of the last financial year, consumption of petroleum products stood at 55.4 MMT. Data from Petroleum Planning and Analysis Cell (PPAC) showed that the growth was led by a 13.4% growth in jet fuel consumption, followed by 8.1% in diesel and 6.8% in petrol.

Lessors have sought deregistration of 54 aircraft of Go First and aviation regulator DGCA is closely monitoring the situation since the airline announced cancellation of flights in May, the government said on Monday. Cash-strapped budget carrier Go First stopped flying on May 3 and is undergoing a voluntary insolvency resolution process.

New Delhi: Consumption of petroleum products in India during April-June rose 4.9% year-on-year (YoY) to 58.8 million metric tonne.  Data from Petroleum Planning and Analysis Cell (PPAC) showed that the growth was led by a 13.4% growth in jet fuel consumption, followed by an 8.1% increase in diesel use and 6.8% rise in petrol usage. A total of 2 million metric tonne (MMT) aviation turbine fuel (ATF) was consumed during the first quarter of this fiscal, against 1.7 million metric tonne a year ago. Diesel and petrol consumption stood at 23.9 MMT and 9.4 MMT, respectively, during the quarter under review, compared to 22.2 MMT and 8.8 MMT, respectively, a year ago.

Kingsview Partners has enticed advisors from Edward Jones to open two new offices on the Texas Panhandle in the past two months.

DGCA is subject to the outcome of the cases before National Company Law Tribunal, Delhi and High Court of Delhi" The Mumbai-based carrier Go First, which stopped flying on May 3, is undergoing an insolvency resolution process, and it has cancelled all its flights till 25 July. DGCA on Friday said it has approved Go First's plan to restart operations with 15 aircraft and 114 daily flights with a host of conditions, including the availability of required interim funding.

Transport Minister Catherine King says she will review whether Turkish Airlines can add more flights to Australia, blaming the carrier for failing to submit a formal request before it was set to announced expanded services.

Travel expert Lee Abbamonte warns that the July 4th travel rush isn't the end of a busy travel year.

NEW DELHI : Air India plans to bolster its presence in the air cargo segment, with a target of securing a 20% market share over the next 2-3 years by utilizing the airline’s incoming fleet of wide-body aircraft that will double its capacity in the near- to medium-term, two people familiar with the development said. As part of its strategy, the airline plans to engage with companies in the telecom, electronics, and pharmaceutical industries that are key users of airlines to ferry products. The airline is also working on sector-specific packages and looking at long-term arrangements with large companies.

Go First also assured that they will be able to resume booking shortly. “As you are aware, the company has filed an application for immediate resolution and revival of operations. We will be able to resume bookings shortly" the statement read.

₹10 lakh in today’s money. Today, for half that amount, you can get a first-class return ticket on a Mumbai-New York flight. Billionaires who undertake outlandish space and marine missions are pioneers who pave the way for the same adventures to become mass market.

Air India flight, IX 539, which took off with 174 people onboard -- including the crew -- from here at 1.19pm returned back and landed safely at 3.52pm, an airport official said. "The plane landed safely. All passengers and crew are fine.