Indian skies looking up

After setbacks over the past decade, Indian aviation landscape is witnessing a revival with the emergence of new low-cost carriers gearing up to operate domestically and regionally, injecting fresh vigour into the industry.

Subir Ahluwalia

The Indian aviation sector is experiencing a period of significant transformation, marked by the emergence of new players, the perseverance of struggling incumbents, and the revival efforts of defunct airlines.

Optimism in India

Campbell Wilson, Chief Executive Officer, Air India, recently expressed confidence in India’s aviation industry, highlighting its rapid expansion potential to support additional international hubs beyond Mumbai and Delhi. Wilson emphasised on India’s unique market dynamics, particularly the robust east-west and Asia-Africa/ Australia-Europe air traffic flows.

IndiGo stake sale

Reports suggest that promoter Rakesh Cangwal and associated entities are considering selling a 3.3 per cent stake in InterGlobe Aviation. The proposed floor price for the sale stands at `2,925 per share, representing a 6 per cent discount to the current market value. Global investment banks JPMorgan Chase and Morgan Stanley are facilitating the transaction.

Fly91 takes flight

Recently authorised to commence operations, Goa-based startup airline Fly91’s entry raises expectations amid a backdrop of numerous private airlines ceasing operations in the past decades. Overcoming challenges, including the aftermath of Jet Airways’ collapse, founder Manoj Chacko secured investors to materialise his aviation venture.

Jet Airways update

The National Company Law Appellate Tribunal (NCLAT) has instructed the monitoring committee of Jet Airways to finalise the transfer of ownership to Jalan Kalrock Consortium (JKC) within 90 days. Additionally, JKC is mandated to obtain an air operator’s certificate within the same timeframe. Notably, the NCLAT authorised the utilization of `150 crore from the Performance Bank Guarantee towards the initial `350 crore payment.

Jettwings ventures forth

Jettwings Airways, conceptualised by Sanjive Narain and Sanjay Aditya Singh, is poised to commence flight operations to three destinations in West Bengal. Under the UDAN scheme, flights from Guwahati to Cooch Behar will soon take off, connecting various airports across the region. Narain chairs the airline, while Singh serves as CEO and MD.

SpiceJet gets summer ready

SpiceJet recently finalised lease agreements for 10 aircraft. Resolving disputes with multiple entities, the airline secured significant savings. To fuel expansion initiatives, SpiceJet aims to raise `2,250 crore through share and warrant sales.

 

 

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