Naresh Goyal, ex-chairman and promoter of cash-strapped Jet Airways, and his wife Anita Goyal, have been told not to leave the country till further notice. The duo was, on Saturday, deboarded from an Emirates flight to London from Mumbai International Airport. The Goyals had boarded Emirates EK 507 Mumbai-Dubai-London flight at 3.35 pm. “Emirates is […]
Category: Civil Aviation
Rafale deal: No question of FIR registration or CBI probe, says Centre to Supreme Court
The Centre also said the petitioners have not disclosed any new evidence in the review petition The Centre told the Supreme Court on Sunday that there was no question of either registration of a first information report (FIR) or an investigation by Central Bureau of Investigation (CBI) in the Rafale fighter jets deal. The apex […]
Vistara to lease 6 aircraft from BOC Aviation
Vistara is to lease six aircraft from BOC Aviation, including four Boeing 737-800 Next Generation and two Airbus A 320 New Engine Option aircraft. The airline, which is a joint venture between Singapore Airlines and Tata Sons, said that while the four Boeing aircraft will be delivered later this month, the two Airbus aircraft will […]
Bidders ask Jet Airways’ lenders to take 75% haircut
Lenders to Jet Airways might be staring at a rocky path ahead of them as the bidders have asked for a haircut of 70-75 per cent on the total debt. According to a source close to the development, potential investors including Etihad Airways, the Hinduja Group and AdiGro have asked for a steep haircut from […]
New govt to award lease rights for 6 non-metro airports to Adani
The award of lease rights for six non-metro airports to the successful bidder Adani Enterprises Ltd will be one of the first big-ticket deals to be signed by the National Democratic Alliance (NDA) government when it begins a new five-year term in office. Adani Enterprises had emerged the highest bidder when the Airports Authority of […]
Hindujas may invest Rs. 1,500 cr in Jet
The Hinduja Group may invest Rs. 1,000-1,500 crore in Jet Airways as part of a plan to revive the airline, along with Etihad Airways, State Bank of India and London-based AdiGro. At a meeting attended by representatives from the four companies, it was agreed to explore the creation of a consortium to own Jet Airways. […]
Jet Airways shares jump over eight per cent on Hinduja stake buy buzz
Shares of grounded Jet Airways advanced over eight per cent in early trade on Wednesday after the diversified Hinduja Group said it is evaluating the opportunity to invest in the airline. On the Bombay Stock Exchange (BSE), the airline’s scrip rose 8.59 per cent to Rs 163.70. The stock gained 8.61 per cent to Rs […]
After 50 months of growth, domestic air-passenger traffic drops 4.5% in April
Domestic carriers flew 4.5 per cent less passengers at 1.09 crore in April, compared to 1.15 crore passengers in the same period last year. The Directorate-General of Civil Aviation, which released the data on Wednesday, said passenger load factor in April showed a decreasing trend as compared to the previous month on various sectors due […]
Job cuts, fewer slots in McKinsey’s revival plan for Jet
McKinsey & Co, which is advising both Jet Airways and its lead lender SBI on reviving the airline, has suggested that the private carrier will need 60-70 aircraft post restructuring. McKinsey has also pointed out that the complex combination of fleet was increasing its cost of maintenance before the airline was grounded. According to sources […]
Air India to upgrade MRO operations in Hyderabad
The Air India MRO facility based in Hyderabad is seeking to expand/upgrade its operations to serve a wider range of aircraft while working towards EASA 145 certification. The MRO, set up in 2015, is in talks with ATR to set up a servicing facility and Indigo, which has a big base here, to offer services. […]
AAI to issue shares against Government funding of Rs 656 cr : Finance Ministry
The Finance Ministry has asked Airports Authority of India (AAI) to issue shares in lieu of the Rs 656 crore capital it has received from the Government, sources said. AAI, a 100 per cent government-owned statutory corporation, was constituted by an Act of Parliament and came into being on April 1, 1995, by merging erstwhile […]
IBS enters into pact to acquire Canadian firm AD OPT
Aviation software provider IBS Software has entered into a multi-million-dollar agreement with Massachusetts-based Kronos Inc. to acquire AD OPT, a market leader in aviation software providing crew management solutions to global airlines. Kronos, a multinational workforce management software and services company employing nearly 6,000 professionals worldwide, had acquired the Montreal-based AD OPT in 2004. The […]