Indian Aviation Sector Witnessed its Worst Year in 2020, Hopes for Quick Bounceback in 2021
3 years, 11 months ago

Indian Aviation Sector Witnessed its Worst Year in 2020, Hopes for Quick Bounceback in 2021

News 18  

The COVID-19 pandemic had a massive impact on the Indian aviation sector in 2020 and major airlines facing losses and challenging times laid off employees, sent them on leave without pay, or cut their salaries. The government, meanwhile, permitted special international passenger flights under Vande Bharat Mission since May and air bubble arrangements were formed with around 24 countries since July. This will hurt Air India in particular as around 60 per cent of its revenue was earlier generated from international operations," said aviation consultancy firm CAPA in October. Later in 2019, Rs 29,464 crore of this debt was transferred from Air India to a government-owned special purpose vehicle called Air India Assets Holding Company Limited.

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History of this topic

Govt likely to push for Air India units’ stake sale in FY25
10 months, 2 weeks ago

Govt likely to push for Air India units’ stake sale in FY25

Live Mint  

New Delhi: The Centre will make a push for selling its shares in Air India’s erstwhile subsidiaries in FY25, said a top official, but the privatization of Container Corporation of India is unlikely to see any traction soon. “The Air India subsidiaries can be taken up for disinvestment, they’re part of the ongoing,” Tuhin Kanta Pandey, secretary of the department …

Air India: ₹7,000 Crore write-offs in FY23
1 year, 5 months ago

Air India: ₹7,000 Crore write-offs in FY23

Live Mint  

Air India incurred significant write-offs amounting to an estimated ₹7,000 crore during the financial year 2022-23. However, despite these challenges, Air India managed to reduce its losses and achieve positive earnings before interest, taxes, depreciation, amortisation, and restructuring or rent costs at an operating level, the publication reported. Air India, along with its subsidiary Air India Express, achieved EBITDAR positivity …

After Indigo, Air India signs pacts with Airbus, Boeing to buy 470 aircrafts
1 year, 6 months ago

After Indigo, Air India signs pacts with Airbus, Boeing to buy 470 aircrafts

India TV News  

Air India on Tuesday signed agreements with Airbus and Boeing for acquiring 470 planes for an estimated USD 70 billion at list prices. Air India said the agreements go "one step further in its USD 70 billion fleet expansion program that it announced in February this year". Campbell Wilson, Air India CEO, and MD said its ambitious fleet renewal and …

India is now the most populous country in the world. And it’s ready to become a tourism force
54 years, 11 months ago

India is now the most populous country in the world. And it’s ready to become a tourism force

CNN  

CNN — Having recently become the world’s most populous nation, India has sparked much speculation about whether it will continue to surpass China in other arenas. India is experiencing what Omri Morgenshtern, CEO of travel and bookings website Agoda, calls a tourism “boom,” and is currently “the biggest growing outbound destination.” While the total number of travelers coming from some …

India has one of the best airfare regimes; there should be no 'gouging': Akasa Air CEO
1 year, 6 months ago

India has one of the best airfare regimes; there should be no 'gouging': Akasa Air CEO

The Hindu  

India has one of the best airfare regimes in the world, but there should not be "gouging" in terms of ticket prices to take advantage of a particular situation, according to Akasa Air CEO Vinay Dube. His comments come against the backdrop of concerns about a steep rise in airfares in certain routes amid capacity reduction due to the Go …

Government to make Rs 300 crore equity infusion in Alliance Air, earlier Air India wing
1 year, 7 months ago

Government to make Rs 300 crore equity infusion in Alliance Air, earlier Air India wing

India TV News  

Alliance Air : Amid financial headwinds faced by Alliance Air, the government has stepped forward to make an equity infusion of Rs 300 crore. The regional carrier Alliance Air, the earlier part of Air India, is now owned by AI Assets Holding Ltd, a special-purpose vehicle formed by the central government. The finance ministry has approved an equity infusion of …

Why airlines keep folding in India’s booming aviation market
1 year, 7 months ago

Why airlines keep folding in India’s booming aviation market

Live Mint  

Go Airlines India Ltd. this week became the latest victim in the battle of the skies over India. Go, run by cookie-to-clothing magnate Nusli Wadia’s group, is the third high-profile carrier majority owned by a billionaire that has ceased to fly in the past 11 years. Modi has committed to steer the state away from business, proving his credentials by …

Air India seeks lessor jet delivery financing after record order
1 year, 9 months ago

Air India seeks lessor jet delivery financing after record order

Live Mint  

Air India has kicked off financing for a plane order worth tens of billions of dollars by asking leasing companies to submit proposals for sale-leaseback deals, the airline said on Monday as industry executives play down the impact of recent banking-sector turmoil on aviation. Air India Chief Executive Campbell Wilson confirmed the airline had gone to the leasing market with …

Air India's order for 470 jets at list price of $70 billion
1 year, 9 months ago

Air India's order for 470 jets at list price of $70 billion

The Hindu  

Tata group-owned Air India's order for a record 470 aircraft from Airbus and Boeing Co will be at a list price of $70 billion, Chief Executive Campbell Wilson said on February 27, as the airline seeks opportunities to expand in long haul international. Air India had, earlier this month, announced provisional deals for 220 planes from Boeing and 250 from …

Air India to hire over 4200 cabin crew and 900 pilots in the year 2023
1 year, 10 months ago

Air India to hire over 4200 cabin crew and 900 pilots in the year 2023

Op India  

Days after announcing mega deals to purchase 470 aircraft from Boeing and Airbus, Air India on Friday announced that over 4,200 cabin crew trainees and 900 pilots will be hired in the year 2023 to meet its growing manpower needs. Earlier this month, Air India announced two mega order to purchase 220 aircraft from Boeing and 250 aircraft Airbus to …

Air India places order for 840 aircraft; includes option to buy 370 planes: Official
1 year, 10 months ago

Air India places order for 840 aircraft; includes option to buy 370 planes: Official

The Hindu  

Tata Group-owned Air India has placed an order for 840 planes with Airbus and Boeing, including the option to acquire 370 aircraft, with a senior airline official on Thursday saying the order is a "landmark moment" in the Indian aviation history. The announcement by Air India's Chief Commercial and Transformation Officer Nipun Aggarwal comes a day after the airline said …

Air India ordered 840 planes, including 370 optional buys, from Airbus, Boeing
1 year, 10 months ago

Air India ordered 840 planes, including 370 optional buys, from Airbus, Boeing

Hindustan Times  

Air India has ordered a total of 840 planes from Airbus and Boeing including 370 optional buys, said Nipun Aggarwal, chief commercial officer of the airline, said, in his social media post on Thursday. READ | Biden announces Air India-Boeing deal, vows deeper ties with Modi Aggarwal stated that the aircraft order demonstrates the vision and aspiration of Tata Group …

Air India-Airbus-Boeing deal was sealed with dinner at luxury Indian restaurant
1 year, 10 months ago

Air India-Airbus-Boeing deal was sealed with dinner at luxury Indian restaurant

Hindustan Times  

Air India's record aircraft deal has put the Tata Group-owned airline in the league of aspiring global carriers. 'METHODICAL, TOUGH' The contest for attention played out across London on a chilly day in December as Airbus found itself in talks with Air India on one side of the capital, while fighting Qatar Airways in court over the fate of similar …

Air India signs 470 aircraft deal with Airbus, Boeing; world calls it ‘historic’
1 year, 10 months ago

Air India signs 470 aircraft deal with Airbus, Boeing; world calls it ‘historic’

Live Mint  

Aiming to upgrade its fleet and expand its operations, Tata-owned Air India on 14 February confirmed it will buy a total of 470 wide-body and narrow-body planes from Airbus and Boeing. "This order is an important step in realising Air India's ambition, articulated in its Vihaan.AI transformation program, to offer a world class proposition serving global travellers with an Indian …

Air India to purchase 470 Boeing, Airbus planes; Joe Biden lauds US-India ties
1 year, 10 months ago

Air India to purchase 470 Boeing, Airbus planes; Joe Biden lauds US-India ties

Hindustan Times  

Air India is placing orders for 470 Boeing and Airbus aircraft, underlining the surging demand for increased mobility in a nation with a swelling middle class. Together with Prime Minister Modi, I look forward to deepening our partnership even further as we continue to confront shared global challenges—creating a more secure and prosperous future for all of our citizens.” Air …

India’s military, civil ambitions to dominate Aero India show
1 year, 10 months ago

India’s military, civil ambitions to dominate Aero India show

Live Mint  

India is scouting for billions of dollars worth of military planes, completing jetliner deals to meet civilian demand and pressing global aircraft manufacturers to produce more locally at a major air show this week. As the country prepares to host the Aero India show in Bengaluru from Monday, its airlines are expanding, with Air India expected to announce a potentially …

Air India places monumental order for approximately 500 planes from Airbus, Boeing: Report
1 year, 10 months ago

Air India places monumental order for approximately 500 planes from Airbus, Boeing: Report

India TV News  

In an effort to rebuild itself under its new owners, Air India has signed a massive contract for roughly 500 new planes worth more than $100 billion. Reportedly, this might be the airline's single-largest purchase ever as Air India is in a process to overhaul itself under the Tata Group with a fleet that is fuel-efficient. While the airline reached …

Air India finalises order for around 250 aircraft with Airbus: Report
1 year, 10 months ago

Air India finalises order for around 250 aircraft with Airbus: Report

Live Mint  

With an aim to expand its operations as well as fleet, the Tata group-owned Air India has finalised an order for around 250 aircraft with Airbus. Earlier on 27 January, Air India chief Campbell Wilson said the airline is finalising a historic order of new aircraft. According to report by news agency PTI, the deal is likely to include 40 …

Air India inches closer to seal half of jumbo plane order
1 year, 10 months ago

Air India inches closer to seal half of jumbo plane order

Live Mint  

Air India will on Friday seal half of an order for some 495 jets with Boeing and engine suppliers General Electric and CFM International, industry sources said, as its new owner seeks to revive the airline and compete with larger rivals. After months of closely guarded, tough negotiations, Air India is set to place an order for 190 Boeing 737 …

‘New airlines now being born rather than shutting down’: Jyotiraditya Scindia
2 years, 1 month ago

‘New airlines now being born rather than shutting down’: Jyotiraditya Scindia

Hindustan Times  

How do you see calendar year 2024 panning out for Indian aviation in terms of growth? We’re almost at pre-Covid level of 12 million per month as far as domestic air traffic is concerned. If you look at these five metros, you’re going to go from 190-200 million to almost 420 million passenger traffic over the next five to six …

Air India flags concern over deterioration of ground handling services
2 years, 5 months ago

Air India flags concern over deterioration of ground handling services

India Today  

Air India has written to AI Asset Holding Limited over the continued deterioration of ground handling services provided by Air India Airport Services Limited to Air India flights. Rajesh Dogra, Head of Customers' Experience and Ground Handling Operations, Air India wrote that if this continues, Air India will be forced to discontinue or scale down AIASL ground handling services for …

Jet Airways takes to the skies after three years: What’s in store for the once-bankrupt airline?
2 years, 7 months ago

Jet Airways takes to the skies after three years: What’s in store for the once-bankrupt airline?

Firstpost  

Jet Airways has already hired over 200 people across major operations, including former SpiceJet and Vistara executive Sanjiv Kapoor as its CEO. The airline plans to start operations in the September quarter of this year A Jet Airways test flight took to the skies on Thursday from Hyderabad Airport for the first time after a hiatus of three years. The …

Tata chief: Air India will be made world-class
2 years, 10 months ago

Tata chief: Air India will be made world-class

Hindustan Times  

The goal is to make Air India the world class airline it deserves to be, Tata Sons chairman N Chandrasekaran told employees of the newly acquired carrier during a virtual staff address on Wednesday. “We want Air India to be a world class airline as it deserves to be and best in customer service. The ministry of finance on Wednesday …

INTERVIEW: Scindia assures Air India will regain lost place; Wishes new owners
2 years, 10 months ago

INTERVIEW: Scindia assures Air India will regain lost place; Wishes new owners

Hindustan Times  

INTERVIEW: Scindia assures Air India will regain lost place; Wishes new owners A day after the Tatas officially took over Air India, Civil Aviation Minister Jyotiraditya Scindia has now said that a historical wrong step has been corrected. In an exclusive interview to Hindustan Times, Scindia wished the new owners of the airline 'All the best' and said that Air …

Government notifies Air India asset transfer agreement with AIAHL; stage set for AI handover to Tata Group
2 years, 10 months ago

Government notifies Air India asset transfer agreement with AIAHL; stage set for AI handover to Tata Group

Firstpost  

In October 2021, Tatas beat the Rs 15,100-crore offer by a consortium led by SpiceJet promoter Ajay Singh and the reserve price of Rs 12,906 crore set by the government for the sale of its 100 per cent stake in the loss-making carrier New Delhi: The government has notified the agreement between Air India and special purpose vehicle AIAHL for …

Air India owes ₹2,350 crore to AAI, SpiceJet ₹185 crore
3 years ago

Air India owes ₹2,350 crore to AAI, SpiceJet ₹185 crore

The Hindu  

Air India and SpiceJet have outstanding dues of ₹2,350 crore and ₹185 crore respectively to the Airports Authority of India as on September this year, Minister of State for Civil Aviation V.K. Charging penal interest, encashment of security deposits along with resorting to legal action were other measures available with the AAI to carry out recovery of dues, he noted. …

Government to clear all Air India debt this fiscal
3 years ago

Government to clear all Air India debt this fiscal

The Hindu  

Air India will pay back all its debt and dues owed to banks, oil companies, airports and aircraft lessors by the end of this financial year, a senior government official said. On Friday, the government sought Parliament’s approval for infusion of ₹62,057 crore into its company or special purpose vehicle that hosts Air India’s residual debt, liabilities and some assets. …

Government making all efforts to complete Air India disinvestment process by December-end: Rajiv Bansal
3 years, 1 month ago

Government making all efforts to complete Air India disinvestment process by December-end: Rajiv Bansal

The Hindu  

The government is making all efforts to complete the disinvestment process of national carrier Air India by the end of December, according to a senior official. On Wednesday, Civil Aviation Secretary Rajiv Bansal said all efforts are being made to complete the disinvestment process of Air India by the end of December. Of the total amount, Talace will take over …

OPINION: With Insolvency & Bankruptcy Code, Air India Privatisation, Modi Govt Bites the Reform Bullet
3 years, 2 months ago

OPINION: With Insolvency & Bankruptcy Code, Air India Privatisation, Modi Govt Bites the Reform Bullet

News 18  

The steps taken by the Modi government over the last few years from enacting Insolvency & Bankruptcy Code to sharpening other laws have helped banks recover over Rs 5.5 lakh crore of bad debt, including close to Rs 1 lakh crore from accounts that had been technically written off. As opposed to the CIRP where the obligation of handling the …

Air India privatisation: Rs 16,000 crore unpaid bills to go to govt's AIAHL
3 years, 2 months ago

Air India privatisation: Rs 16,000 crore unpaid bills to go to govt's AIAHL

India TV News  

The government will transfer about Rs 16,000 crore of unpaid fuel bills and other pending dues that Air India owes to suppliers, to a special purpose vehicle before handing over the loss-making airline to the Tata Group, a senior official said. Besides, non-core assets of Air India, including land and building, valued at Rs 14,718 crore are being transferred to …

Air India privatisation: ₹16,000 crore unpaid bills to go to government’s AIAHL
3 years, 2 months ago

Air India privatisation: ₹16,000 crore unpaid bills to go to government’s AIAHL

The Hindu  

The government will transfer about ₹16,000 crore of unpaid fuel bills and other pending dues that Air India owes to suppliers, to a special purpose vehicle before handing over the loss-making airline to the Tata Group, a senior official said. Before the handover of the airline to Tatas, the government would again work on the balance sheet of Air India …

Opinion | Air India under Tatas will surely regain its lost glory
3 years, 2 months ago

Opinion | Air India under Tatas will surely regain its lost glory

India TV News  

In a historic acquisition, the Tata group, after a gap of 68 years, was set to regain control of India’s national carrier Air India, after its bid of Rs 18,000 crore was accepted by the Centre. While admittedly it will take considerable effort to rebuild Air India, it will hopefully provide a very strong market opportunity to the Tata group’s …

Air India Sale: Undoing the Grief Nehru Govt Heaped on Private Enterprises and JRD Tata
3 years, 2 months ago

Air India Sale: Undoing the Grief Nehru Govt Heaped on Private Enterprises and JRD Tata

News 18  

‘And now the time has come to say goodbye. Nationalisation Promoted Crony Capitalism and Mediocrity What the Nehru government did in 1953 with the single stroke of the pen was not just limited to the nationalisation of Air India or shaking the foundations of the Indian air transport industry, it ended up weakening the overall cause of private enterprises in …

Air India finds a new address: Chronology of Air India privatisation
3 years, 2 months ago

Air India finds a new address: Chronology of Air India privatisation

The Hindu  

After more than two decades and three attempts, the government has finally sold its flagship national carrier Air India, and it is deja vu for Maharaja as it returned home to its founding father the Tata group. Here is a chronology of Air India privatisation plan: June 2017: The Cabinet Committee on Economic Affairs gave in-principle approval to the consideration …

Indian aviation industry may incur losses worth ₹26,000 crore in FY22: Report
3 years, 3 months ago

Indian aviation industry may incur losses worth ₹26,000 crore in FY22: Report

The Hindu  

Pandemic-hit Indian aviation industry is expected to report a net loss of ₹25,000-26,000 crore while its debt level may increase to ₹1.2 lakh crore in the ongoing fiscal year, credit ratings agency ICRA said on Tuesday. The aviation industry is expected to witness a strong year-on-year growth of 45-50% in domestic air passenger traffic and80-85% in international air passenger traffic …

Billionaire Rakesh Jhunjhunwala Plans to Have 70 Planes for New Low-Cost Airline
3 years, 4 months ago

Billionaire Rakesh Jhunjhunwala Plans to Have 70 Planes for New Low-Cost Airline

The Quint  

Billionaire investor Rakesh Jhunjhunwala has said that he plans on setting up Akasa Air – a new, ultra-low cost airline in India. With an investment of USD 35 million and 40 percent ownership of the carrier, Jhunjhunwala said that he is expecting a no-objection certificate from India's aviation ministry in the next 15 days, Bloomberg reported. Amid a global pandemic, …

Explained | What are the challenges Jet Airways faces before it can take off again?
3 years, 5 months ago

Explained | What are the challenges Jet Airways faces before it can take off again?

The Hindu  

The story so far: Two years after Jet Airways — at the time India’s second-largest full-service airline — halted operations in 2019 as it ran out of cash, the carrier has a real chance at getting airborne again. When Jet Airways halted operations in 2019, the government distributed its airport slots among various other Indian carriers. At the time, the …

Air India may get new buyers in May-June
3 years, 8 months ago

Air India may get new buyers in May-June

India TV News  

The much-delayed privatisation of Air India is likely to complete in the first half of this year. Speaking at the Times Network India Economic Conclave, the Union Minister for Civil Aviation, Hardeep Singh Puri said that financial bids for the national carrier will be submitted sometime in May. Further, reports suggest that Ajay Singh has partnered with Ras Al Khaimah …

Union Budget 2021: Air India disinvestment to be completed in 2021-22; aviation ministry allotted Rs 3,224 cr
3 years, 10 months ago

Union Budget 2021: Air India disinvestment to be completed in 2021-22; aviation ministry allotted Rs 3,224 cr

Firstpost  

New Delhi: Disinvestment of Air India and Pawan Hans would be completed in 2021-22, Finance Minister Nirmala Sitharaman said on Monday while presenting the Union Budget in which Rs 3,224 crore has been allocated to the Civil Aviation Ministry for the next fiscal year. Sitharaman’s announcement on Monday about completing Air India’s disinvestment in 2021-22 is significant as the Narendra …

6.3 crore domestic air passengers in 2020, 56 pc lower than 2019: DGCA
3 years, 11 months ago

6.3 crore domestic air passengers in 2020, 56 pc lower than 2019: DGCA

Hindustan Times  

A total of 6.3 crore domestic passengers travelled by air last year, 56.29 per cent lower than 2019, Indian aviation regulator DGCA said on Friday. The relaxation offers some relief to domestic airlines.mint The impact of the coronavirus pandemic continues to be felt on the Indian aviation sector as the regulator said that only 73.27 lakh people travelled by air …

Budget 21: Don’t Waste This Crisis, Just Smooth the Wrinkles
4 years ago

Budget 21: Don’t Waste This Crisis, Just Smooth the Wrinkles

The Quint  

The government has been struggling to get rid of Air India for two decades. It was first mooted under Atal Bihari Vajpayee in 2000, then shelved under Manmohan Singh, but formally notified by Prime Minister Modi in June 2017. All good, except for the fact that such onerous conditions were put on its sale—including a strategic veto for the government …

Air India facing unprecedented financial crisis due to COVID-19: Hardeep Puri
4 years, 2 months ago

Air India facing unprecedented financial crisis due to COVID-19: Hardeep Puri

India TV News  

Civil Aviation Minister Hardeep Puri has called Air India's leave without pay scheme a "win-win for employees and management", and pointed out that Air India has not laid off a single employee even as international and domestic carriers have resorted to cost-cutting through layoffs. "Air India is also facing a very challenging financial situation," Puri said adding the airline has …

To sell Air India, reframe the terms
4 years, 3 months ago

To sell Air India, reframe the terms

Hindustan Times  

Air India’s third attempt to secure a buyer is likely to draw a blank. AI has a vast domestic and global network to key destinations, assured time slots and space in prized airports. Civil aviation minister Hardeep Singh Puri was candid enough to admit in Parliament: “With Rs 60,000 crores debt, the choice is not between privatisation and non- privatisation.but …

Dues of 4 Major Domestic Airlines to AAI Doubled in Feb and July Period, Air India Owes Highest
4 years, 3 months ago

Dues of 4 Major Domestic Airlines to AAI Doubled in Feb and July Period, Air India Owes Highest

News 18  

Dues of four major domestic airlines — IndiGo, SpiceJet, GoAir and AirAsia India –to the Airports Authority of India have more than doubled between February and July amid the coronavirus pandemic, senior officials said. India has six major domestic carriers, IndiGo, SpiceJet, GoAir, AirAsia India, Air India and Vistara, which owed to the AAI a total of Rs 2562.04 crore …

Air India's Net Loss Stands at Around Rs 2,570 Crore in First Quarter of 2020-21: Puri
4 years, 3 months ago

Air India's Net Loss Stands at Around Rs 2,570 Crore in First Quarter of 2020-21: Puri

News 18  

Air India has incurred a net loss of about Rs 2,570 crore in the first quarter of 2020-21 as compared to a net loss of Rs 785 crore sustained in the corresponding period a year ago, Civil Aviation Minister Hardeep Singh Puri said on Thursday. "The net loss in quarter 1 of FY20-21 is about Rs 2,570 crore as compared …

Revenues of Indian airlines fell by over 85% in April-June period: Hardeep Singh Puri
4 years, 3 months ago

Revenues of Indian airlines fell by over 85% in April-June period: Hardeep Singh Puri

India Today  

The revenue of Indian airlines fell by over 85 per cent to Rs 3,651 crore during the first quarter of FY21 due to the severe disruption caused by the Covid-19 pandemic. Civil Aviation Minister Hardeep Singh Puri on Wednesday stated in a written reply in Rajya Sabha that Indian airlines suffered a 85.7 per cent revenue loss in comparison to …

Govt weighs dropping debt condition in Air India sale: Report
4 years, 3 months ago

Govt weighs dropping debt condition in Air India sale: Report

Live Mint  

India is proposing to drop a condition that the winning bidder for Air India Ltd. will have to take on $3.3 billion of aircraft debt, people with knowledge of the matter said, as the government struggles to sell the loss-making carrier kept afloat by taxpayer-funded bailouts. A renewed attempt to sell Air India, which hasn’t made money since 2007, has …

'Air India has been an asset': Hardeep Singh Puri hopeful of privatising Air India in 2020
4 years, 3 months ago

'Air India has been an asset': Hardeep Singh Puri hopeful of privatising Air India in 2020

India TV News  

Civil Aviation Minister Hardeep Singh Puri on Sunday said that the government should not be running airports and airlines and added that he hopes to privatise Air India during 2020. Addressing a virtual meet on Namo app, Puri said, "I can tell you from my heart the government should not be running airports and the government should not be running …

Jet Airways Pays $13 Million to Take Ownership of Six Boeing Aircraft and Engines
4 years, 4 months ago

Jet Airways Pays $13 Million to Take Ownership of Six Boeing Aircraft and Engines

News 18  

Jet Airways, which is undergoing an insolvency resolution process, has acquired ownership of six Boeing aircraft along with engines, according to a regulatory filing. As per the filing, a buyout option was exercised whereby the company made payment of USD 13,000,000 to acquire ownership of six aircraft and engines. "One of the end-uses contemplated by the NCLT order is that …

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