Singapore Airlines Group reported a net profit of S$85 million ($62.8 million) for the third quarter ended December 31st, marking the company's first profit since the COVID pandemic began. The airline credits its success to increased cargo revenues and passenger numbers as a result of Singapore's Vaccinated Travel Lane (VTL) programme. First profitable quarter since December 2019 Singapore Airlines Group (SIA) has reported its first profit since December 2019, thanks... Read More
NCLAT Rejects Go Airlines’ Petition Against the Withdrawal of Sovika Aviation Services’ Insolvency Proceedings
The National Company Law Appellate Tribunal (NCLAT) has rejected a plea filed by budget airline Go Airlines challenging an NCLT judgement allowing Sovika Aviation Services to withdraw from insolvency proceedings. On September 23, 2021, the Mumbai bench of the National Company Law Tribunal granted the Resolution Professional’s Section 12A plea to discontinue the Corporate Insolvency Resolution Process (CIRP) against Sovika Aviation Services. Sovika Aviation is a company that offers a... Read More
Ethiopian Airlines has resumed the flights with Boeing 737 Max, three years after grounding the plane due to a fatal air crash that killed 157 people. The first flight scheduled to take off to the neighbouring region Kenya flew within Ethiopia due to poor weather. The passengers on the day included diplomats and government officials. Ethiopian Airlines Chief Executive Officer Tewolde Gebremariam said that the carrier had taken enough time... Read More
Union Budget 2022-23: Civil Aviation Ministry Gets Rs 10,667 Crore, E-Passport to Be Released This Year
The Union Budget 2022-23 has allocated Rs 10,667 crore for the civil aviation ministry, a considerable increase from last year. In 2021-22, the government allocated Rs 3,224 crore for the civil aviation ministry. But several factors contributed to higher expenses last year, resulting in a revised expenditure of Rs 72,652 crore for 2021-22. Air India divestment, especially the allocation for Air India loans, grants in aid to Air India for... Read More
After two years of the pandemic, India’s domestic air travel showed signs of recovery from November 2021. The recovery was soon cut short by the Omicron variant of the COVID-19 virus. Post pandemic, the government planned to reinstate regular international flight schedules from December, which was again postponed due to the rising COVID-19 cases. The number of domestic passengers reduced by 25% in the first week of January 2022. There... Read More
According to HSBC Global Research, there are chances that the entry of two new airlines – Akasa and Jet Airways 2.0 – could disrupt the Indian domestic airlines. The two airlines could bring in recent battles on pricing standards and excess supply issues in the Indian aviation market. In a report titled ‘Indian Aviation, 2022: A Year of Two Halves,’ HSBC Global Research said that India’s aviation sector would recover... Read More
The aviation analysts assume that the Indian airlines will report losses in the December quarter. Factors such as high crude oil cost and decreasing air passenger traffic due to Omicron can contribute heavily to their losses. A report recently published by a brokerage firm ICICI Securities reveals that India’s domestic market leader IndiGo is likely to report losses of Rs 200 crores in the December quarter. IndiGo occupied 54% of... Read More
According to an internal document of the Airports Authority of India (AAI), the dues for four major domestic airlines — AirAsia India, IndiGo, SpiceJet, and Go First — have doubled between January 2020 and October 2021. On the other hand, Air India remains the domestic airline with the highest debt to the AAI. According to the records, Air India owes the AAI Rs 2,362.36 crore as of October 31, 2021,... Read More
The financial woes of the Indian airlines have only increased in the current year. Due to the pandemic and temporary shutdown of airline activities in the country last year, airlines had to face a consolidated loss of $4.1 billion. This year would not be an exception for the industry since CAPA, an aviation consultancy and research firm has said that Indian airlines are going to incur around the same amount... Read More
In the Indian aviation industry, currently there are a lot of airlines competing for the top spot which IndiGo holds right now. However, most of the times, the passengers are looking for cheap tickets, lower fares and budget flying options which makes the low-cost carriers the major attraction point for most of the passengers. But, even the low-cost carriers provide many fare choices to the flyers. These carriers make sure... Read More
People have been angry since their flights got cancelled and they did not get their money back. Every airline is offering credit shells instead of the money back to the customers. This has led to a lot of dissatisfaction amongst the people. Airlines will have to provide refunds to the customers though, said aviation ministry recently. Every passenger who booked their flights in between the period of March 25 and... Read More
Budget 2019: Government Proposes a Hike in Aviation FDI, Aircraft Financing and Leasing in the Country
Budget 2019 may have some panacea for the financially crippled airlines like Air India and Jet Airways. The finance Minister Nirmala Sitharaman said that the government intends to increase the limit of the Foreign Direct Investment (FDI) for the aviation sector from the current 49%. Besides, the government will also take the initiative to start aircraft leasing and aviation finance from the Indian shores. The government will examine suggestions of... Read More
The unexpected growth of three budget airlines – IndiGo, SpiceJet and GoAir – creates market distortion, analyses Business Insider. According to a report published by the Centre for Asia Pacific Aviation (CAPA), the three low-cost airlines – IndiGo, SpiceJet, and GoAir – will make a record profit in FY 2019-20. Among the three, IndiGo alone will register a profit of USD 400-500 million, the report stated. Such profit is more... Read More
After close to seven decades, Air India has made its way back to the Tata Group. While this was the expected outcome, hearing it officially makes it even sweeter. The cash-strapped airline had become a burden for the government, and it was high time for it to be privatised. Air India was nationalised way back in 1953. According to a Times of India (TOI) report, Tata’s wholly-owned subsidiary, Talace Pvt... Read More
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