'Akasa is the dark horse and I believe Go First will be up and running soon and these two together could end up with a 30 per cent share by FY24.'
There was no word on the much-anticipated procurement of 26 naval variants of Rafale fighter jets by India from France.
India on Thursday approved proposals for purchasing 26 Naval variant of Rafale jets from France and procuring three French-designed Scorpene class submarines, a day ahead of Prime Minister Narendra Modi's wide-ranging talks with French President Emmanuel Macron in Paris.
The government on Monday asked airlines to devise a mechanism to ensure reasonable airfares amid a surge in air ticket prices, particularly on certain routes that were earlier served by Go First. In the case of the unfortunate Odisha tragedy, airlines have been advised to provide free carriage (cargo) services to the families of the deceased, the civil aviation ministry said. During an hour-long meeting of the airlines advisory group, Civil Aviation Minister Jyotiraditya Scindia shared his concerns about the steep rise in airfares on certain routes.
Here are list of some of the big ticket announcements.
'The time is ripe' for Airbus and Boeing to look at India in terms of setting up facilities to manufacture commercial aircraft, Aviation Minister Jyotiraditya Scindia said on Tuesday. His comments came a day after IndiGo placed the world's largest-ever single-tranche plane order with Airbus. Air India had in February placed an order for 470 aircraft - 250 with Airbus and 220 with Boeing - which would be a mix of narrow-body and wide-body planes.
The railways has initiated a high-level probe into the train crash in Odisha to be headed by the commissioner of railway safety, South Eastern Circle.
Prime Minister Narendra Modi's state visit to the US is expected to see discussion on India's possible entry into a US-led global alliance on critical minerals, officials told Business Standard. In June last year, the US, the European Union, and other G7 partners launched the Minerals Security Partnership to ensure that China did not further strengthen its grip on supplies of critical minerals the world over. Various ministries, including the Ministry of Finance, have communicated to the Ministry of External Affairs to explore the possibility of India joining the partnership, officials said.
IndiGo has the flexibility to decide what would be the precise size of its aircraft fleet by 2035, its chief executive officer (CEO) Pieter Elbers said on Monday. IndiGo - the country's largest airline - has 312 aircraft in its fleet. Elbers said the airline will double in size by 2030, indicating the airline will have a fleet of about 625 by 2030.
No-frills airline IndiGo on Monday announced placing a firm order for 500 A320 family planes with European aviation major Airbus at the Paris Air Show. This is the largest ever aircraft order placed by any airline with Airbus, IndiGo said in a statement. Financial details of the order were not disclosed.
The number of serious incidents has more than doubled in the last seven years.
Around 200 pilots of Go First, the cash-strapped airline that suspended operations on May 2, have joined Air India. As many as 75 of them started training with the Tata-owned airline on Monday. As Go First tries to salvage its operations, it has announced additional pay or retention allowance of Rs 100,000 and Rs 50,000 for captains and first officers, respectively, with effect from June 1.
Rhe unruly passenger was handed over to the security personnel after landing at the Delhi airport.
19 per cent of all travel in India (by bus, train or air) was pilgrimage or religious travel (possibly the single largest after business and family-related travel), discovers Ambi Parameswaran.
Low-cost carrier IndiGo has asked American aerospace manufacturer Pratt & Whitney (PW) to quickly provide engines for the airline to press its grounded planes back into service, sources said on Wednesday. The airline wants to increase its domestic frequency to fill the supply-side void created after Go First's exit, they added. Go First stopped operating flights from May 3 after filing an insolvency application with the National Company Law Tribunal.
Aviation regulator DGCA will conduct an audit of Go First's preparedness before approving resumption of flights by the crisis-hit carrier, according to a communication. Cash-strapped Go First stopped flying from May 3 and is undergoing voluntary insolvency resolution proceedings. On Tuesday, a senior official at the Directorate General of Civil Aviation (DGCA) said the airline has submitted its response to the regulator's show cause notice indicating that it is working on the details of a plan to resume flights at the earliest.
The National Company Law Appellate Tribunal (NCLAT) on Monday upheld an NCLT order allowing crisis-hit Go First's voluntary insolvency resolution proceedings. A two-member NCLAT bench asked several aircraft lessors of Go First opposing insolvency, to approach National Company Law Tribunal (NCLT) for any remedy. "The order dated May 10, 2023 allowing insolvency is upheld," said the NCLAT bench headed by Chairperson Justice Ashok Bhushan.
Full service carrier Vistara expects to add a total of 10 planes as well as hire more than 1,000 people in the current financial year and has shelved plans to fly to the US, according to a top executive. Currently, Vistara, which is set to be merged with Air India, has a fleet of 61 aircraft and a staff strength of over 5,200. During an interaction in Istanbul this week, Vistara CEO Vinod Kannan said there has been a ready pool of talent, especially pilots and cabin crew members, with the collapse of Go First.
Domestic airlines flew 1.29 crore passengers in April, a rise of more than 22 per cent compared to the year-ago period, according to official data released on Friday. However, the domestic air traffic number last month at 128.88 lakh was marginally lower than the 128.93 lakh recorded in March. In April 2022, the number of passengers carried by airlines stood at 105.47 lakh.
Fuelled by robust market demand and higher revenues, InterGlobe Aviation on Thursday flew into the profitability zone, raking in a net profit of Rs 919.2 crore in the March quarter. The parent of the country's largest airline IndiGo, which had faced turbulence last year, had a net loss of Rs 1,681.8 crore in the three months ended March 2022. Reflecting the bullishness in the aviation market, the carrier has forecast a 5-7 per cent rise in Available Seat Kilometres (ASK), an indicator of seat capacity, in the June quarter.
Putin's statement comes after Yevgeny Prigozhin, the alleged head of the Wagner mercenary group, in a series of recordings released on social media on Saturday, announced that his troops had taken control of military facilities in two Russian cities.
Fuelled by rising passenger traffic and reviving local economies, the global airline industry is projected to record a net profit of $9.8 billion this year, IATA Director General Willie Walsh said on Monday and also made a strong pitch for having global standards for a Sustainable Aviation Fuel (SAF) book and claim system to help reduce carbon emissions. While addressing the Annual General Meeting of the International Air Transport Association (IATA) here, Walsh also flagged concerns about supply chain issues that are raising costs as well as limiting the ability of airlines to deploy aircraft. He also pointed out that decarbonising aviation is a serious issue and governments must not be allowed to use it to shore up exchequer finances.
India and the US on Thursday said they are looking forward to the reconvening of the India-US Trade Policy Forum later this year to further enhance trade relationship and identify new areas for engagement.
The department of personnel and training has asked the Union Public Service Commission to recruit such specialists through "lateral entry" mode in 12 government departments/ministries, he said.
Sharma, who was earlier employed with Kanda's MLDR airlines, was found dead on August 5, 2012 at her Ashok Vihar residence in North West Delhi.
From a surge in airfares to rattled aircraft lessors to thousands of employees staring at uncertainty, it has been a month of continued turbulence since cash-strapped Go First suspended flights from May 3. As the government and other stakeholders hope that Go First restarts operations at the earliest, plans are being worked out for the budget airline's revival. A section of Go First staff are optimistic about restarting of operations, another section are pessimistic about the airline's future course considering what had happened to erstwhile Kingfisher Airlines and Jet Airways, according to employees who spoke to PTI.
British-Pakistani billionaire businessman Shahzada Dawood and his son Suleman were also on the sub, the BBC reported on Tuesday.
Air India has been a subject of its passengers' ire this week as more than half of its flights have been delayed, primarily because of an old crew rostering system. Due to the existing system, the airline has not been able to handle the disruption created by cyclone 'Biparjoy' on India's western coast. The sudden grounding of two planes also added to the carrier's woes.
The pilot of Air India AI-915 Delhi-Dubai flight on February 27 allowed a woman friend to enter the cockpit, according to a complaint filed by a cabin crew member on the same flight.
Larger firms feel that the smaller players have muddied the waters for the IBC process, leading to excessive regulation of resolution Professionals.
The addition of new flights at airports will now be based on passenger-handling capacity at security checkpoints, according to the Bureau of Civil Aviation Security (BCAS). The civil aviation security regulator issued directions in this regard on May 22 in a move to reduce congestion and delays inside airport terminals. Following this, airports will have to check passenger-handling capacity at security checkpoints before allotting slots.
"The DGCA is conducting an investigation into the matter. The Investigation team will examine the relevant facts," said a senior DGCA official.
Akasa Air's plane occupancy, or load factor, improved the most among all major carriers in April compared to the last month. Load factor signifies the percentage of seats that the airline has been able to fill in its planes. The Vinay Dube-led carrier, which started commercial flights in August last year, saw its load factor jump by more than 11 per cent in April, according to the Ministry of Civil Aviation's data
As Go First awaits the NCLT verdict on its voluntary insolvency resolution plea, lessors have sought deregistration of nine more aircraft of the crisis-hit airline. In one week, various lessors have approached aviation regulator DGCA for deregistration and repossession of a total of 45 planes of Go First. The National Company Law Tribunal (NCLT) is set to pronounce the order on the carrier's petition on Wednesday.
The top court also sought the assistance of Solicitor General Tushar Mehta, who was present in the case, in formulating the standard operating procedure (SOP) and fixed the plea for hearing after the summer vacation in July.
Aviation regulator DGCA on Monday directed crisis-hit Go First to immediately stop bookings and sale of tickets directly or indirectly till further orders, according to a source. Besides, the watchdog has issued a show cause notice to the budget carrier under the relevant provisions of the Aircraft Rules, 1937, for its failure to continue the operation of the service in a safe, efficient and reliable manner, the source said. Earlier, the airline had suspended the sale of tickets till May 15 and has cancelled flights till May 12.
Sparks flew on the first day of the debate on the no-trust motion moved by the Congress with the Opposition on Tuesday asserting that it was forced to do so to break Prime Minister Narendra Modi's 'maun vrat' (vow of silence) on Manipur and the treasury benches hitting back saying it was a no-trust vote against a 'poor person's son' who has worked for the welfare of the people.
Pant, a 1991-batch Indian Administrative Service officer of Rajasthan cadre, is currently secretary in the ministry of ports, shipping and waterways.
For the first time, the MiG-29K fighter aircraft undertook night landing on indigenously-built aircraft carrier INS Vikrant, a feat described by the Indian Navy as a 'historic milestone'.
Thanks to a big payout by the group's cash cow, Tata Consultancy Services (TCS), Tata Sons is set to earn a record-high equity dividend worth nearly Rs 33,350 crore from the group's listed companies for FY23, up 130 per cent from Rs 14,529 crore in FY22. Nearly 90 per cent of this, or around Rs 30,500 crore, is estimated to accrue to Tata Sons while the rest will show up in its profit & loss account for FY24. This is because nearly 80 per cent of the dividend payout by TCS for FY23 was done before the end of the financial year through three quarterly interim instalments and a special one in January this year.
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