IndiGo, Air India upgrade playbooks to keep up with India's rising middle class
India's rising affluence is driving a significant shift in the lifestyle of the middle class, with a growing preference for premium products and experiences, both on the ground and in the sky. Airlines are capitalizing on this trend by offering luxurious amenities to cater to the surging demand, such as roomier seats, gourmet meals served on designer tableware, and lavish vanity kits. Key Points
Economic TimesVistara instability will reduce by this week: CEO Vinod Kannan
Vistara CEO Vinod Kannan announced on Wednesday that the airline's operations would return to normalcy by the end of the week. The airline had canceled approximately 22 flights on Wednesday. Kannan explained that some flights would be reduced to allow more buffer time for pilots in case of unforeseen circumstances. Key Points
Economic TimesSpiceJet sacks three executives over charter flight fraud
The audit found that the officials were taking commission from agents to sell the charters at a lower price than prevalent market rate, executives directly involved in the know said. The airline has terminated the services of three employees, and is tightening control over its commercial department like sales and revenue management, the executives added. Key Points
Economic TimesSpiceJet closer to settlement with aircraft lessor Celestial, says formalities remain
SpiceJet informed the National Company Law Tribunal (NCLT) that it has settled the matter with aircraft lessor Celestial Aviation, seeking a week for final formalities. Celestial Aviation had filed an insolvency petition against SpiceJet for a default of $29.9 million. SpiceJet has been in settlement talks with the lessor since October 2023. Key Points
Economic TimesLenders to open bids for Go First today
Bids for bankrupt airline Go First will be opened on Friday. Ajay Singh, SpiceJet owner, and Nishant Pitti, co-owner of EaseMyTrip, are front runners with a bid of Rs 600 crore. SkyOne, owned by Jaideep Mirchandani, also placed a bid. Financial creditors have claims of around ₹4,300. Pratt & Whitney compensation is being pursued in a Singapore court case. Key Points
Economic Times
The right bet: Rakesh Jhunjhunwala's dream is set to soar higher
Exiting 2023 with a fleet size of 22 aircraft, including 21 Boeing 737 MAX 8 and one Boeing 737 MAX 8 200, the first of its kind in Asia, Akasa Air is ready for its next phase of growth. It further fuelled its international flying ambitions when in January the new airline welcomed two Boeing 737 MAX 8 aircraft to its growing fleet. Since it started flying in 2022, Akasa has garnered a market share of 4 per cent as against another low-cost but much older airline SpiceJet's 5.6%. Key Points
Economic TimesWhy Ajay Singh of troubled SpiceJet seeks redemption in bankrupt Go First
Ajay Singh, known for turning around airlines, has bid for the bankrupt Go First airline. However, his own airline, SpiceJet, is also facing financial challenges. Turning around Go First will be a difficult task, but restarting the airline quickly is the best hope for its success. Key Points
Economic TimesRevival of bankrupt Go First airline will 'Spice' up India's aviation
Go First receives bid from Ajay Singh and Busy Bee Airways, blaming Pratt & Whitney for revenue losses. SpiceJet plans to partner with Go First, despite its own financial struggles. Market share consolidation in the aviation sector raises concerns about competition and service quality. Key Points
Economic TimesFinal call for all summer flyers: Book tickets now
India's largest airline, IndiGo, has 74 aircraft grounded till December. While it is ramping up capacity by extending its lease on existing aircraft and leasing new planes for the short term, chief financial officer Gaurav Negi said he expects airline yields to stay strong for this quarter due to a capacity constraint, which will persist at least for the first six months of 2024. Key Points
Economic TimesThese Indian travellers can get visas on arrival in the UAE
The Emirates currently serves nine destinations in India with 167 weekly flights, connecting travellers to Dubai and onwards to a global network of more than 140 destinations. The airline's network in India includes Ahmedabad, Bengaluru, Chennai, Delhi, Hyderabad, Kochi, Kolkata, Mumbai, and Thiruvananthapuram. Key Points
Economic Times
Alaska Airlines has begun flying Boeing Max 9 jetliners again for the first time Friday
Alaska Airlines has resumed flying Boeing 737 Max 9 jetliners after a panel blew out of one of its planes. The Federal Aviation Administration approved the inspection and maintenance process to return the planes to flying. Technicians at Alaska began inspections that night and expect to complete them by the end of next week. Key Points
Economic TimesAkasa buys over 300 CFM engines at list prices of $5 billion
Indian low fare carrier Akasa has purchased over 300 engines from CFM International for its Boeing aircraft order. The deal includes a comprehensive maintenance agreement and a spare engine contract. Akasa CEO Vinay Dube confirmed that the airline is not facing any delays in engine deliveries on its current fleet and expects none in the future. Key Points
Economic TimesSurbhi Chandna slams Vistara for ‘mentally torturing’ her: ‘Incompetent staff’
“The worst airline award goes to @airvistara. A priority bag was offloaded for reasons best known to them,” wrote TV actor Surbhi Chandna on X. | Trending Key Points
Hindustan TimesCreditors say yes to fresh bids for Go First
Creditors of bankrupt Go First Airlines allow fresh proposals from prospective resolution applicants (RAs). Five entities, including SpiceJet, express interest. RAs must submit bank guarantee and formal EoI. CIRP may be extended. Lenders skeptical of strong bids due to airline's struggles. Court battle with lessors. Lenders pursue arbitration against Pratt & Whitney. Key Points
Economic TimesIndia-Maldives row: SpiceJet to soon start flights to Lakshadweep
The airline chief's mention of the Lakshadweep flights comes amid the ongoing diplomatic row between India and the Maldives. Derogatory comments were made by some deputy ministers of the Maldives against India and Prime Minister Narendra Modi after he visited Lakshadweep. Key Points
Firstpost
Carlyle Aviation Partners expresses interest in SpiceJet: Report
Earlier, in mid 2023, the airline had sought shareholder approval to issue 5.91% stake in the low-cost airline to Carlyle Aviation Partners--the aircraft financing unit of global private equity giant Carlyle Group. Key Points
Economic TimesIndiGo gets notice after worms found in sandwiches served on Delhi-Mumbai flight
A notice was issued to IndiGo airline on a complaint by a Delhi-based dietician. Check details here. Key Points
mintFlight delayed? Know your rights as a passenger
In November, 2.69 lakh passengers were compensated by airlines for delays, and nearly 40 thousand passengers were compensated for cancellations. | Latest News India Key Points
Hindustan TimesSpiceJet confirms interest to acquire bankrupt airline Go First
Indian airline SpiceJet has expressed interest in acquiring bankrupt Go First. The acquisition proposal aims to create a strong and viable airline in a possible combination with SpiceJet. The resolution professional managing Go First's corporate insolvency resolution process has received requests for due diligence and has sought an extension of the deadline. Key Points
Economic TimesSpiceJet to raise Rs 2,250 crore via equity route
SpiceJet's proposed preferential issue will have investors like Elara India Opportunities Fund, Aries Opportunities Fund, Mahapatra Universal Limited, Nexus Global Fund, Prabhudas Lilladher and Resonance Opportunities Fund. Ajay Singh, Chairman and Managing Director of the airline said the capital raise will help the airline achieve the goal of building a world-class airline in India. Key Points
Economic Times
Indigo launches AI chatbot 6Eskai; answers customer queries in 10 languages and helps to book tickets
India's IndiGo has launched an AI chatbot, 6Eskai, which addresses customer queries in 10 languages and offers a unique ticket booking platform. The chatbot, powered by GPT-4 technology, has reduced 75% of customer service agent workload. With 1.7 trillion parameters, it can answer frequently asked questions and perform various functions, including flight bookings, discount coupons, web check-ins, and seat selection. Key Points
Economic TimesIndiGo checks in with ease of flying business, plans dual-class configuration in 35 Airbus A321 aircraft b
The legroom, or seat pitch in industry jargon, in IndiGo's Airbus A320 and A321 aircraft is 30 inches on average at present, with three seats on each side. The airline is yet to determine how much more it will charge for premium seats, but customers who pay extra will receive priority boarding, complimentary in-flight food, and greater flexibility to make changes to their itinerary, said the person. Key Points
Economic TimesFliers should resist airlines’ mileage schemes and stay loyal to none
They should not chase tricky reward programmes when airlines have no reciprocal loyalty to offer. It’s best to travel with a clean slate to maximize true value. Key Points
mintP&W engine issues to lead to more aircraft grounding in March quarter, says IndiGo
IndiGo, which had a fleet of 334 aircraft at the end of September, is taking various measures, including taking planes on wet lease, retaining ceo aircraft and also leasing additional ceo planes from the secondary market. Against the backdrop of powder metal issues flagged by P&W, IndiGo's Chief Financial Officer Gaurav M Negi said globally, the airline understands that a large number of incremental engines are being removed for shop visits between 2023 and 2026. Key Points
Economic TimesBadr Mohammed Al Meer to take over as CEO of Qatar Airways
Akbar Al Baker, the CEO of Qatar Airways, is stepping down after leading the state-owned airline for over 20 years. The reason behind his retirement is not immediately clear. Badr al Meer will take over as CEO, and currently holds the position of chief operating officer of Hamad International Airport in Doha. Key Points
Economic Times
Jalan Kalrock Consortium seeks more time to pay Rs 350 cr to Jet Airways’ lenders
The NCLAT has asked the Jalan Kalrock Consortium to file an application stating the conditions for seeking an extension to make payments to Committee of Creditors of bankrupt airline Jet Airways. The application filed by the State Bank of India, the primary lender, and others pertains to the transfer of ownership of the airline to JKC. Key Points
Economic TimesRed, gold & purple: Air India unveils new design & livery as part of its rebranding mission
The airlines, taken over by Tata Group in 2022, aims to fly an entirely new long haul fleet by 2026. It'll also launch new website, app and loyalty programme, and have refitted interiors. Key Points
ThePrintIndiGo Q1 profit soars to record
Net profit rose to ₹3,090.6 crore in the quarter ended 30 June from a loss of ₹1,064.3 crore. Total income rose by 32% to ₹17,161 crore from a year earlier Key Points
mintCarlyle to acquire 5.91% stake in SpiceJet at Rs 48 per share
SpiceJet is seeking shareholder approval to grant a 5.91% stake in the company to Carlyle Aviation Partners, which is the aircraft financing unit of the Carlyle Group. The lessors have valued the airlines share at Rs 48 per equity share. This is higher than the current share price of the airline which is trading at Rs 29 at the stock exchange. Further to this, the airline has plans to issue equity shares of 20% to its promoter, Ajay Singh, who will acquire his stake at Rs 10 per share against an infusion of Rs 500. Key Points
Economic TimesAkasa Air reports a loss of Rs 602 crore
It is only after you reach a certain size and scale and the costs incurred on route developments start spinning money. The airline has done well though, expanding aggressively and launching new routes, said a person familiar with Akasa's plans. Key Points
Economic Times
SpiceJet taken off DGCA's enhanced surveillance regime
India's Directorate General of Civil Aviation (DGCA) has discontinued enhanced surveillance of SpiceJet. The move comes after DGCA inspectors made 95 observations during inspections of 23 SpiceJet aircraft and carried out 51 spot checks across 11 locations. The airline was put under enhanced surveillance earlier this month due to multiple financial issues, including some lessors seeking repossession of leased planes. Key Points
Economic TimesGo First gets green light from DGCA to resume ops, but with riders
Indian aviation regulator DGCA has accepted cash-strapped airline Go First's resumption plan, but subject to certain conditions. Cash-strapped Go First, which had been flying for more than 17 years, stopped operations from May 3. Key Points
Economic TimesGo First flights cancelled until July 16, airline to resume bookings shortly
Go First flights have been cancelled until July 16. Customers are advised to check the airline's official policy on filing a claim for more information. Key Points
mintGo First resolution professional invites EoIs
Go First, the grounded Indian airline, has called for expressions of interest (EoI) from potential buyers. The deadline for submission is August 9, 2023. The resolution professional for the firm said a list of the RPs will be revealed on August 19. Go First filed for voluntary insolvency proceedings in May, citing a cash crunch, and suspended flight operations. The airline has proposed a revival plan to the aviation safety watchdog and is awaiting a special safety audit report, which is due this week. Key Points
Economic TimesWadia group looking for partners to bid for Go First
The resolution professional of Go First has invited Expression of Interest (EoI) in the company from investors. The EoI allows a company or a consortium to bid for the airline by August 9. Key Points
Economic Times
Expression of Interest sought in Go Airlines possible sale
The last date for receipt of interest for the airline is set for Aug. 9, according to the advertisement. Key Points
Economic TimesCrisis-hit GoFirst grounded for two months; flight cancellation extended till July 10
New Delhi [India], July 4 (ANI): Crisis-hit airline Go First on Tuesday informed that its scheduled flight operations will remain cancelled till July 10 due to operational reasons. The fleet of the cash-strapped carrier has been grounded since May 3. The airline operator filed for voluntary bankruptcy in early May before the National Company Law […] Key Points
ThePrintSpiceJet Dubai-Kochi plane suffers tyre burst
On July 4, SpiceJet Boeing 737 operated flight SG-17, Dubai (DXB) - Cochin (COK). During post-flight walk around, NO 2 tyre was found burst, the airline said in a statement. Key Points
Economic TimesTo take off, Go Air must get relief from Singapore court
While the Singapore International Arbitration award had directed P&W to dispatch around 20 engines by December 2023, the engine maker had subsequently challenged it citing payment failure by the airline and the ongoing global supply chain shortage. In its petition which was reviewed by ET, P&W has claimed that the airline owes it over $100 million. Key Points
Economic TimesGo First's lenders approve $55 mln fund infusion to revive bankrupt Indian carrier - sources
Lenders to India's Go First, which is under bankruptcy protection, have approved interim funding of 4.50 billion rupees ($54.9 million) to resume operations and restart the airline, two banking sources said. Key Points
Reuters
Akasa Air: An airline with Jhunjhunwala's Midas touch is flying high. Where is it headed?
Akasa Air, India's young airline, has become the first airline in the global aviation industry to increase its fleet from zero to 20 aircraft within a year of operation. It is set to include a 20th plane in July, with a total of 72 planes expected by March 2027. While the short lifespan of most Indian airlines has made launching an airline in the country challenging, Akasa has increased its market share from 0.2% to 4.8%, flying 24,000 passengers in August 2020, rising to 629,000 in May 2021. It remains focused on long-term sustainability despite market competition. Key Points
Economic TimesSpiceJet to reinduct three Q400 aircraft, settles past liabilities with lessor NAC
Accordingly, the agreement settles all past liabilities for the Q400s leased by NAC to SpiceJet. At present, the airline operates five Q400 aircraft from NAC in its fleet. Key Points
FinancialexpressVistara shines as only Indian airline to feature in top 20 best airline list; Indigo ranks 43rd
Tata-owned Vistara bagged the 16th position at the Skytrax World airline Awards 2023, also known as the Oscars of the aviation industry. Meanwhile, no-frills IndiGo airline ranked 43rd on Skytrax's top 100 airlines list. Key Points
Economic TimesPassengers crown THESE airlines as the best in 2023. Check here
Singapore Airlines has been named the top airline of 2023, followed by Qatar Airways, in the latest survey of passengers by Skytrax World airline Awards. Qatar Airways dominated several categories, including best business class airline, seat, and lounge. Key Points
mint