Rajya Sabha on Thursday passed a bill that seeks to replace the Aircraft Act, 1934 and provides for manufacture and maintenance in the aviation sector, remove redundancies and for ease of doing business. The Bharatiya Vayuyan Vidheyak, 2024, was passed after a reply to discussion by Civil Aviation Minister K Rammohan Naidu. Lok Sabha has … Read more
The Tata group’s unlisted financial services businesses have reported hefty profits for the year, with Tata Capital, the group’s financial services business, reporting a profit of Rs 2,492 crore on revenues of Rs 13,309 crore, as per Tata Sons’ annual report for the financial year ended March 2024. The two insurance joint ventures, Tata AIA … Read more
The Rs 4,783-crore revival package of bankrupt Jet Airways offered by the Jalan-Kalrock consortium appeared headed for a dead-end as Supreme Court on Friday refused to extend the Jan 31 deadline for the successful bidder to deposit Rs 150 crore. Appearing for Jalan-Kalrock, senior advocate Maninder Singh tried to convince a bench of Chief Justice … Read more
During the first day of the WingsIndia 2024 air show on January 18, Akasa Air stole the show by announcing 150 Boeing 737 Max orders. The latest order, comprising of 737 MAX 10 and 737 MAX 8-200 jets will provide the airline a steady aircraft delivery stream through 2032, the airline said in a statement. … Read more
A passenger on an IndiGo flight recently assaulted co-captain Anup Kumar who was making an announcement regarding a delay in takeoff at the Delhi airport. A video was shared on microblogging site X, where a man in yellow hoodie abruptly ran up from the last row and hit the new pilot. Now, a co-passenger has … Read more
There are two notable developments at Spicejet – It’s interested in looking at the bankrupt Go First for acquisition Has expressed interest to Go First’s Resolution Professional and will submit an offer post diligence Further to it’s recently announced plan to raise fresh capital of $270 mn i.e. Rs 2,254 cr – It has announced … Read more
Fractional ownership, a concept that is still gaining traction in India, allows an entity to buy a stake in an aircraft and share its flying hours and crew with other part-owners. As per the draft framework, anyone who wishes to be such a part-owner must hold a certain minimum stake, which is likely to be … Read more
Acquiring grounded aircraft in India remains a significant challenge, said two senior executives of the Challenge Group, which recently got court approval to acquire three wide-body aircraft of grounded Jet Airways after a delay of more than a year. “Unfortunately, it’s already been two years. It’s a very long period and the process has created … Read more