Airlines’ excess capacity problem to increase in 2020
International Air Transport Association (IATA) chief economist Brian Pearce said that the problem of capacity is set increase in calendar year 2020. While lower fares have made flying affordable in India, airlines have started to complain about excess capacity in the market that is leading to lower fares for passengers, impacting the bottom line of airlines.
Indian banks argue for Vijay Mallya bankruptcy, UK court reserves judgment
A group of Indian public sector banks sought a bankruptcy order ag...
Indian banks back in UK court over Vijay Mallya's non-payment of debt
Besides SBI, the 13 Indian banks include Bank of Baroda, Corporation ba...
Govt to sell 100% stake in Air India, says Union minister Hardeep Singh Puri
"AISAM has approved the 100 per cent sale of Government of India stake in Air India for the re-initiated strategic disinvestment of Air India," Minister of State for Civil Aviation Hardeep Singh Puri said in a written reply to the Lok Sabha. The national carrier, which has a debt burden of more than Rs 50,000 crore, has been making loss for long and as part of revival efforts, the government has decided on disinvestment.
After Jet Airways' demise, Lufthansa plans to 'strengthen' partnerships with Indian airlines
For 2020, the Lufthansa group will be trying to strengthen Indian partnerships so that Indian carriers can bring passengers from second and third-tier cities to its four gateways. However, apart from launching a Munich-Bengaluru flight service in April, the airline does not plan to start any other flight service in 2020.
Indian, Russian school students share best practices in contemporary innovation
This colloboration and student exchange program was conceived by the Hon. Prime Minister of India, Mr Narendra Modi during his visit to SIRIUS, Sochi in May 2018. Later, a MoU was signed between Atal Innovation Mission (AIM) and SIRIUS Education Center, in Oct 2018.
SpiceJet loss widens 'due to new accounting norms'
The private carrier's losses widened despite it posting a 52% increase in second quarter operational revenue to 2,845.3 crore as it added more destinations and expanded its fleet of passenger and freighter aircraft.
With an eye on securing orders, Airbus conducts A220 aircraft's demonstration
Airbus' A220, with the largest and quietest cabin in its class, offers a wide-body passenger comfort in a single-aisle aircraft, a press statement by Airbus said. A220 incorporates state-of-the-art technologies, the latest aerodynamic design and new generation engines resulting in fuel savings of 20 per cent, the aircraft manufacturer added.
India's air passenger traffic grows 3.6 per cent in Oct; pace slower than seen in 2018: IATA
The International Air Transport Association (IATA), a grouping of more than 280 airlines worldwide, on Thursday said growth in India lags the robust 2018 outcomes. Globally, Revenue Passenger Kilometre (RPK) rose to 3.4 per cent in October compared to the year-ago period. RPK is a measure of demand.
'Golden age' for Indian aviation sector; fundamentals strong: IndiGo chief
IndiGo has been aggressively expanding its operations and has started 11 overseas routes in the last one year. Recently, it placed an order for 300 more planes from Airbus and is also considering wide-body aircraft for long haul routes. IndiGo, owned by InterGlobe Aviation, is the country's largest airline with a market share of 48.2% in September.
Disinvestment of Air India should improve competition within the aviation sector: IATA official
Moreover, the official said that the Jet Airways' bankruptcy - which happened in April this year - does raise questions on the sustainability of the Indian aviation sector.
Air India pilot bodies seek meeting with Hardeep Singh Puri on privatisation
The pilot bodies, in a communication to Puri, said that the airline management appraised it of the status of disinvestment during a recent meeting but it did not provide any clarity on pending issues or provide any roadmap with regards to the future of employees.
Air India starts compensating flyers for 49-hour delay
Air India has paid a compensation of €600( approx Rs 47,700) each to several passengers for the delay in its London to Mumbai flight on May 28.
Overcapacity in skies pulls down fares, hurts airlines’ bottomline
Airlines seem to be in a doom loop, with excess capacity and not enough places to fly aircraft profitably.
Govt likely to float bids for Air India sale next month
EoI inviting bids for 100% stake sale are likely to be floated either this month-end or next month. Bidding for the national carrier, which is sitting on a debt pile of around Rs 58,000 cr, will be carried out through a newly developed e-bidding system.
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