Page 14 - Aviation Industry

IndiGo CEO Ronojoy Dutta gets stock worth Rs 14 core through ESOP

This is over and above Dutta's last year's salary of Rs 11.9 crore which he has received till 31 December

Credit outlook negative for aviation industry, says ICRA

This reflects a view that financial performance of airlines is likely to remain weak in near-to-medium term amid weak air traffic

IndiGo eyes air cargo market, in talks with Airbus for freighters

To acquire five A321 planes initially, target China, west Asia

BOC Aviation, IndiGo sign purchase-leaseback pact for eight A320Neo planes

BOC Aviation Limited has signed purchase-and-leaseback agreements with InterGlobe Aviation Ltd (IndiGo) for eight new Airbus A320NEO aircraft. "The addition of these eight A320NEO aircraft demonstrates our confidence in the future growth of the aviation market in India," said Riyaz Peermohamed, Chief Aircraft Acquisition & Financing Officer, IndiGo. The aircraft will be powered by CFM Leap engines and are scheduled to be delivered in the second half of 2021, the Singapore-based aircraft leasing company said in a release on Monday. "This incremental capital expenditure also reflects our disciplined investment strategy throughout the cycle, focused on building a portfolio of the latest technology aircraft," said Robert Martin, Managing Director and Chief Executive Officer, BOC Aviation. He further noted that "we are delighted to partner once again with IndiGo, India's largest passenger airline, as we continue to support our airline customers to finance their aircraft deliveries.

Go Air receives Rs 800 cr lifeline from banks amid turbulent times

With this credit line, the airline will not need to recast its loans

Airlines see 10-12% drop in bookings as states insist on Covid-19 test

West Bengal joined Maharashtra and Karnataka in insisting on negative RT PCR tests for travellers from certain states, which has dampened sentiment

Govt extends ban on international flights till the end of March

In a circular, the Directorate General of Civil Aviation (DGCA) said international all-cargo operations and flights specifically approved by the DGCA are exempted from the ban

Rumblings and grumblings in the sky

International traffic is showing no sign of picking up and for Indian carriers, West Asia - a lucrative market - is still out of bounds

GoAir's chances of thriving may depend on the promoters taking a back seat

GoAir's failure to retain senior management has been ascribed to the classic weakness of Indian promoters

Covid-19 impact: Lufthansa lays off 103 of its 135 cabin crew in India

The German carrier, which operated 42 flights per week to India prior to lockdown, now operates 10 services per week under an air travel bubble

IndiGo starts hiring, gives offer letters to 32 pilots for ATR-72 fleet

The pandemic hit few sectors harder than air travel, wiping out tens of thousands of jobs. IndiGo had slashed its workforce by 10 per cent last year in view of travel disruptions

SpiceJet posts Rs 67 cr net loss in Q3 vs Rs 78 cr profit a year ago

While revenue from operations halved, SpiceJet gained due to Rs 209 crore of other income, including claims due from Boeing towards grounding of 737 Max and concessions in lease rent from lessors

January air traffic growth slows down to 3.5% sequentially: Icra

DGCA yet to release traffic data; in December domestic airlines flew 7.3 mn passengers with month-on-month growth of 15%

Corporate air travel takes wing on economic revival, low Covid-19 cases

Online travel portals and airlines say the demand from companies is being led by essential services sectors like pharmaceutical, oil and gas, and power

Vaccine passport: A ticket to fly around the world amid Covid-19 pandemic

The vaccine passport will effectively create digital credentials that could be the key to attending crowded events or even visiting countries.

Aviation workforce shrank by 39,000 in April-Sept due to Covid-19: Ministry

Highest impact seen in employment at airports which shed 19,247 employees during this period

Govt likely to fetch around Rs 15,000 crore from sale of Air India

Prospective bidders are perhaps ascribing zero value to the equity of the financially-stressed company, a source said. The Tata group is being considered a frontrunner for acquiring Air India

Scheduled international passenger flights' suspension extended till Feb 28

"However, international scheduled flights may be allowed on selected routes by the competent authority on a case-to-case basis," the Directorate General of Civil Aviation added

Tata's airline dilemma

A Tata takeover of Air India is being seen as the best outcome for all concerned

Govt plans to lift cap on flights, wants airlines to fly full capacity

Except IndiGo, airlines resist lifting of cap as traffic uncertain