Tag Archives: aviation

Akasa Air announced a special ‘Monsoon Bonanza’ sale across its network, offering travelers an opportunity to book their upcoming travel at reasonable fares. The airline is offering a 10 per cent discount on “Saver” and “Flexi” fares upon booking one-way or return flights to 16 destinations across India. Customers can avail discounts through www.akasaair.com, Android & IOS app and through travel agents and several Online Travel Agencies (OTAs). Customers have a chance to check off their travel wish lists at affordable prices from serene landscapes of Bagdogra, to exotic beaches of Goa, to a historic tour of Lucknow. Bookings are open for a period of one week from 0001 hours of 30 May 2023 to 2359 hours of 5 June for travel from 1 July 2023 onwards using the code ‘Monsoon’ to avail the offer. Akasa Air has reveals’ multiple best-in-class products and services to ensure an inclusive, warm, comfortable, and efficient flying experience. The Boeing 737 MAX aircraft seats provide ample legroom and come with USB ports in a majority of aircraft, allowing passengers to charge their gadgets and devices. Café Akasa, the in-flight catering service offers an assortment of healthy and delectable meals, including festive menus and unique options to offer customers an indulgent gourmet experience in the skies.  The airline allows customers to travel with their pets in the cabin or carry them in cargo based on their size. Furthermore, in an endeavour to make travel inclusive, Akasa Air also recently introduced its safety instruction card in Braille for persons with visual impairment. Akasa Air, India’s fastest-growing network since its launch in August 2022, has carried over 2 million revenue passengers and crossed the milestone of operating over …

Suprio Banerjee, Vice President & Sector Head – Corporate Ratings, ICRA said, The pace of recovery in industry earnings will be gradual owing to the high fixed cost nature of the business. The industry is estimated to report a net loss of around INR 110-130 billion in FY2023 due to elevated ATF prices twined with the depreciation of the INR against the USD.” 

In its recommendations on corporate loan restructuring submitted by the KV Kamath-led committee to Reserve Bank of India, tourism does not feature as a problem sector among the top five, which include aviation, real estate, automobiles, infrastructure and power. The committee has suggested solutions for 29 of the 307 sectors it assessed.

CAPA India in its webinar on ‘Financing Indian Aviation in the Post COVID-19 era’ projected that Indian carriers will require additional funding of INR 200-250 Billion in FYY2021 to bridge the gap between revenue and expenditure. According to CAPA India, the aviation industry in the country needs massive recapitalisation and urgently. Delays will further diminish the already compromised chances of survival. Industry and government collaboration is essential for survival and revival. Industry cannot navigate the crisis alone.

According to a research and analysis conducted by CAPA India recently, all funding options need to be on the table and fully explored by the Indian airlines to identify the most appropriate and viable for implementation. It includes the element of Original Equipment Manufacturing compensation. The industry’s financial challenges will become increasingly apparent from September-October. Promoters, bankers, private equity and the government are all unwilling to provide support given demand risk and uncertainty.

The Union Civil Aviation ministry has decided to increase the aviation security fee (ASF) for embarking domestic and international passengers with effect from September 1. The aviation security fee has been hiked by Rs 10 to Rs 160 from Rs 150 for domestic passengers and to $5.20 from $4.85 for international passengers. The fee has been increased in view of rise in cost of security at airports and enhanced security deployment requirements.

According to an RBI survey, the aviation, automobiles, construction, MSME, and tourism & hospitality sectors would be the hardest-hit by COVID-19 pandemic. The bank carried out a systemic risk survey ‘to capture the perceptions of experts, including market participants, on the major risks faced by the financial system’.  Within the tourism sector, around 90 per cent of the respondents stated that the ‘prospects of recovery within the sector in the next 6 months appear bleak’. The aviation sector appears to be a close second, with nearly 85 per cent of the respondents categorising the prospects as grim. The results of the survey were published in its financial stability report released recently. It mentioned that the above-mentioned five sectors are adversely impacted by the coronavirus pandemic. Respondents said that “while most sectors face sizeable and immediate revenue losses, the adverse impact is seen in sectors where consumption spending is discretionary in nature”.

According to the latest update by CAPA on the state of the Indian aviation industry, Indian carriers will require a domestic fleet of around 300-325 aircraft from Oct-2020 onwards, and an international fleet of 100-125 aircraft. The total fleet size of 400-450 aircraft would still mean that the current fleet of 650 represents a surplus of 200-250 aircraft for a period of 6-12 months. While a gradual path towards normality could be expected during Q3 and Q4, the Indian aviation sector is likely to shrink significantly, even if some of the vulnerable airlines manage to survive. This estimate may still be conservative and assumes that Q1 FY2021 will be almost written-off, with traffic limping back during the weak second quarter, followed by a gradual trajectory towards normality during the second half of the financial year.

AirAsia India has announced that it will start daily flight on Delhi-Jaipur route from October 20. The flight will depart from Delhi airport at 10.35 am and will arrive in Jaipur at 11.45 am. The return flight will depart at 12.15 pm from Jaipur and will arrive at 1.25 pm at Delhi airport.

“Maharashtra is an industrial state and the way aviation sector is witnessing growth, there is a demand for more infrastructure and more airport spaces,” said Devendra Fadnavis, Chief Minister, Maharashtra, at the first Global Aviation Summit in Mumbai. As one of the key speakers of the inaugural session, Fadnavis focused on how aviation contributed to 15 per cent of the national GDP. Welcoming all the dignitaries and ministers to the financial and entertainment capital of India, the chief minister highlighted the importance of growth in the aviation sector and said that Mumbai is proud to be one of the most efficiently managed airports in India. Fadnavis thanked Suresh Prabhu, Minister of Civil Aviation and Commerce and Industry for choosing Mumbai as the venue for the summit. Mentioning the construction of the Navi Mumbai airport, which is touted to be operational by 2020, the minister said that the airport will offer a unique experience to travellers. The airport has capacity to add 1 per cent to our GDP and apart from it, there are 9 airports in the pipeline in the state. While Pune airport is being developed to cater to one of the major IT hubs in the country, Nagpur airport is being developed for its strategic location in national and international flight routes. All metros in India are around an hour’s distance from Nagpur via flight and this connectivity has called for more attention to its infrastructure development, the chief minister added. The connectivity between South East Asia and Europe also passes through Nagpur and hence facilities at the airport are one of the best that have been created. A passenger and cargo hub will also be created in …