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 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
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
Domestic market leader IndiGo will levy a distance-based “fuel charge” ranging from Rs 300 to Rs 1,000 on all its flights due to increase in aviation turbine fuel (ATF) prices. This comes into effect from today. While comments were sought from other airlines, SpiceJet said it will levy a fuel charge without giving details. Other … Read more
The bad news from Pratt & Whitney (P&W) shows no signs of ebbing for customer airlines using its snag-ridden engines on the best-selling single aisle Airbus A320neo planes and passengers. The engine-maker has now warned that “600 to 700 engines will be removed for shop visits between 2023 and 2026 (and) the accelerated removals and … Read more
India is set to double its commercial fleet and airport capacity in metro cities in the next three to four years, Union minister of civil aviation Jyotiraditya Scindia said on Friday. “There will come a time in India, in the not-too-distant future, the next three years, four years, where our fleet capacity will grow from … Read more
In September 2021, SpiceJet had taken shareholders’ approval to transfer it’s cargo and logistics services business to its subsidiary, SpiceXpress and Logistics Private Ltd. (SLP), on a slump-sale basis, for Rs 2,555.77 cr. In it’s board meetings dated February 27, 2023, it has finally fixed April 1, 2023 as the date from which cargo business … Read more
Spicejet has informed that it has settled with Airports Authority of India (AAI) and has cleared all the ‘principal’ dues. Financial difficulties of the airline are widely known. It has been defaulting/ delaying on most of it’s financial commitments. It was moved to ‘cash and carry system’ in airports run by the AAI. Spicejet has … Read more