Category Archives: Aviation
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SpiceJet: Not a smooth flight
Posted on July 12, 2017 by Diligentia News in Aviation.After losing ground in calendar 2016, the stock of low-cost carrier SpiceJet has come back roaring in 2017, more than doubling over the past six months. A few factors have aided this rally. First, a dip in oil prices and strength in the rupee over the past four to five months that could reduce the […]
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Almost all Air India subsidiaries likely to post profit this fiscal year
Posted on July 12, 2017 by Diligentia News in Aviation.All but one of Air India’s key subsidiaries will likely make net profits this financial year, said two senior executives in the airline, making it more remunerative for the government to sell stakes in these units than to entirely divest its ownership from the flagship carrier. Air India Express, the regional short-haul service of the […]
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Joint ownership of AI with govt difficult proposition: IndiGo
Posted on July 12, 2017 by Diligentia News in Aviation.Having a joint ownership with the government in Air India will be a “very very difficult proposition”, IndiGo’s founder Rakesh Gangwal said today. While virtually ruling out the possibility of running Air India along with the government, he also cautioned that it would be a “Shakespearean tragedy” if the national carrier’s international assets go to […]
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GST adds to engine woes, almost half of IndiGo A-320 Neo fleet grounded
Posted on July 12, 2017 by Diligentia News in Aviation.Almost half the fleet of IndiGo’s Airbus A-320 new engine option (Neo) is grounded due to trouble with the Pratt & Whitney (PW) engines used on these planes. The low-cost carrier (LCC) currently has 22 A-320 Neos and nine of them are reportedly grounded due to engine issues. The implementation of GST from July 1 […]
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Air India’s most unusual baggage puts a spanner on Modi government’s big selloff plan
Posted on July 12, 2017 by Diligentia News in Aviation.Indian Prime Minister Narendra Modi’s cabinet has signed off on a plan to sell all or part of Air India Ltd., a debt-ridden, state-run carrier with the most unusual baggage. The airline’s balance sheet includes commercial space near London Heathrow, land in Tokyo, Hong Kong and Nairobi, all bought during the heydays when the airline […]
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Global carriers, PE firms join race to acquire 24 per cent stake in Jet Airways
Posted on July 11, 2017 by Diligentia News in Aviation.Global carriers Lufthansa and KLM-Air France, bulge bracket private equity funds including the Blackstone Group, KKR & Co and TPG Capital have joined the race along with US airlines Delta to invest around $200-250 million in India’s second largest airline Jet AirwaysBSE -0.14 % is looking to raise capital to fund operations, face growing competition […]
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Former promoter Kalanithi Maran seeks over Rs 2,000 crore compensation from SpiceJet
Posted on July 11, 2017 by Diligentia News in Aviation.SpiceJet’s former promoter, Kalanithi Maran of Sun Group, has sought over Rs 2,000 crore compensation from current promoter Ajay Singh and the airline for allegedly causing losses by failing to honour contractual obligations. SpiceJet told ET “the question of damages does not arise”. The claim for compensation has been filed before an arbitral tribunal comprising […]
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Govt may sell Air India in parts to attract potential buyers
Posted on July 10, 2017 by Diligentia News in Aviation.India is considering selling state-owned Air India in parts to make it attractive to potential buyers, as it reviews options to divest the loss-making flagship carrier, several government officials familiar with the situation said. Prime Minister Narendra Modi’s cabinet gave the go-ahead last month for the government to try to sell the airline, after successive […]
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IndiGo says Air India ‘very important’ to meet long-haul goals
Posted on July 7, 2017 by Diligentia News in Aviation.IndiGo, the only carrier that has made a pitch to purchase Air India Ltd., sought to allay investor concerns about the budget operator buying the unprofitable national carrier, saying a deal would help speed up plans for long-distance flights. Spelling out the rationale for their interest in the highly indebted airline in a conference call […]
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GST structure for airlines: What’s in store for economy, business class and lease rentals
Posted on July 7, 2017 by Diligentia News in Aviation.With airlines in India doing brisk business over the past few years on the back of rising incomes and cheaper air tickets due to low oil prices, Goods and Services Tax (GST) is likely to impact air travel. If you are a frequent flier, you will witness effects of GST tax rates on your airfares […]
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