5 Minutes Read

CarterX eyes expansion of passenger baggage transport service to 15 airports in 5 years

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

 Listen to the Article (6 Minutes)

Summary

The company currently provides services for transporting passenger baggage via 24×7 counters at the airports of Delhi, Mumbai, Hyderabad and Bengaluru. CarterX has tie-ups with Indian airlines such as IndiGo, Vistara, AirAsia India and SpiceJet.

Passenger baggage transport service company CarterX aims to expand its footprint across 15 airports over the next five years, Harsha Vardhan, CEO & Co-Founder, CarterX told CNBC-TV18 in an interview.

“We plan to take our services further to five more airports by 2023 and aim to expand our presence to 15 airports over the next five years,” Harsha Vardhan said.

The company currently provides services for transporting passenger baggage via 24×7 counters at the airports of Delhi, Mumbai, Hyderabad and Bengaluru. CarterX has tie-ups with Indian airlines such as IndiGo, Vistara, AirAsia India and SpiceJet.

Also read: IndiGo, SpiceJet fall while Jet Airways gains after DGCA’s domestic flight data

Customers flying with these airlines avail CarterX’s luggage transfer assistance via services known as 6EBagPort (IndiGo), Vista GateToGate (Vistara), LuggageAssist (AirAsia India) and FlyPorter (SpiceJet).

“We are in the process of on-boarding two more airlines,” Harsha Vardhan said.

CarterX was launched in 2017 and has assisted more than 100,000 travellers so far. So far, the company has secured two rounds of funding in 2019 and 2021 through Mumbai Angels Network and Venture Catalysts respectively in seed funding and is raising its pre-series A round currently.

While airport luggage transfer assistance is a significantly new market in India, the company is betting on it on the basis of the potential in Indian aviation market and newer airports coming up across India.

Also read: India’s air passenger traffic dips more than 7% in July over last month

“Barring premium travellers who had experienced this luxury and privilege of moving around hands-free, for decades, the majority of travellers held the mindset that their bags and suitcases were their responsibility,” Harsha Vardhan said.

“CarterX wishes to push the wall further and continue to offer unique baggage-transfer services that can help travellers make the most of their travel plans without fretting over their luggage,” he added.

The company aims to further capture about 33 percent of the market share over the next five years in the passenger baggage transport service category.

Also read: Explained: What are the supersonic jets that American Airlines is betting on?

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

 Daily Newsletter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

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index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
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India to do away with caps on airfares from end of August

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

 Listen to the Article (6 Minutes)

Summary

The government had implemented fare caps at the onset of COVID pandemic in order to prevent any sudden surge or decline in air fares.

The civil aviation ministry will remove the lower and upper limit on fares with effect from Aug 31, the ministry said in a circular today.

This would mean that air fares will again be regulated by the market and the competition will become more fierce.

The government had implemented fare caps at the onset of COVID pandemic in order to prevent any sudden surge or decline in air fares.

Also read: Airlines asked to share data of international passengers with customs authorities

“After review of the current status of scheduled domestic operations viz-a-viz passenger demand for air travel in terms of purpose specified in the initial order no. 02/2020 dated 21.05.2020, it has been decided to remove the fare bands notified from time to time regarding the airfares with effect from 31.08.22,” the circular read.

The ministry has also reiterated that airlines and airports should ensure that the guidelines to contain the spread of COVID are strictly adhered to and COVID appropriate behavior is enforced strictly during travel.

Also read: Air India will now allow pilots to fly until age of 65

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

 Daily Newsletter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

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today's market

index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
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Ahead of Akasa Air launch, IndiGo is unfazed as it ‘minds its own business’

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

 Listen to the Article (6 Minutes)

Summary

IndiGo is currently in a strong position and there is scope for immense growth as only 7 percent of Indians fly at present, said CEO Ronojoy Dutta.

India’s largest airline IndiGo is unfazed at the entrance of upcoming competitor Akasa Air. The airline does not plan to follow its competition but intends to build on its own strength as the low-cost carrier space heats up.

“IndiGo minds its own business. We don’t do anything because of the competition. We look at our business model which is very strong. We look at our opportunities which are very big. We look at our abilities which are very deep and we say let’s do it. So that’s what we are doing. Other people will do their own thing, it is fine but we mind our own business and maximize our opportunities,” CEO Ronojoy Dutta told CNBC-TV18 on the airline’s 16th anniversary.

Dutta further stated that IndiGo is currently in a strong position and there is scope for immense growth as only 7 percent of Indians fly currently.

“India is growing rapidly, travel revenues go twice the rate of GDP…Now people are moving everywhere not just for jobs but for leisure too…Future looks strong,” Dutta added.

The airline, which flies to 74 domestic and 25 international destinations, aims to expand its international network by offering non-stop offerings in all major cities within 7-8 hour air distance from Mumbai, Delhi, Chennai, and Kolkata.

Also Read: IndiGo announces three-day sale to mark 16 years; tickets start from Rs 1616

For now, the airline sees huge upside in the revenue environment, demand for air travel, its penetration in the market, and the overall network. However, high level of dollar and steep prices of aviation turbine fuel continue to be challenges for growth.

The airline reported its April-June earnings for FY23 on August 3. It posted a second straight quarter of net loss at Rs 1,064 crore. The airline had posted net loss of Rs 3,174 crore in the same quarter in the last financial year. On the revenue side, IndiGo saw its strongest revenue performance in a quarter at Rs 13,019 crore. The Yield for the quarter also improved by 50.3 percent on year to 5.24 rupees per km. Going forward, the management expects the Q2 revenue performance to decline sequentially due to seasonal weakness and high costs.

Mr Dutta said that the airline industry has been making presentations for bringing ATF under the GST regime in order to bring down costs.

“We have a strong ally in the ministry of civil aviation…the aviation ministry is trying to get ATF under GST.. but we are facing roadblocks at the finance ministry. We keep making presentations, keep trying to be persuasive. We haven’t hit success yet in getting ATF under GST, hopefully will be there soon,” Dutta said.

Also Read: IndiGo airlines enables quicker passenger exits with third ramp disembarkation

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

 Daily Newsletter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

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today's market

index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
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Air travel is safe and safety non-negotiable, says DGCA DG Arun Kumar

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

 Listen to the Article (6 Minutes)

Summary

“There is a bit of hype and unnecessary hoopla around normal events. Several times, a reject take-off or missed approach is actually a safety manoevure and enhances safety. Air travel is absolutely safe and our record is terrific,” Directorate General of Civil Aviation Director General Arun Kumar said.

Indian aviation regulator means business and safety is non-negotiable, Indian aviation regulator chief Arun Kumar told CNBC-TV18 in an exclusive interview.

“There is a bit of hype and unnecessary hoopla around normal events. Several times, a reject take-off or missed approach is actually a safety manoevure and enhances safety. Air travel is absolutely safe and our record is terrific,” Directorate General of Civil Aviation Director General Arun Kumar said.

The regulator keeps a regular tab on the Indian airlines  via annual surveillance plan, spot checks, night surveillance and cockpit surveillance so that only airworthy aircraft are in operation, Kumar added.

“Annual surveillance programme is the backbone of safety oversight,” Kumar said.

Also read: DGCA to hire 100-150 people over next 6-8 months for enhanced aviation safety surveillance

A total of 177 surveillance, 497 spot checks and 169 night surveillance have been carried out by DGCA on engineering and maintenance aspects of scheduled operators during the last one year between July 2021 and June 2022.

Based on the violations found during surveillance, spot checks, night surveillance carried out during 2021-22, enforcement action has been taken by DGCA against responsible personnel of an airline in 21 instances of violations.

“Aircraft is a complex sturdy machine with lakhs of components and its usage is very rigorous. India has a very young fleet and their flight dispatch reliability is one of the best in the world. Once in a while, technical snags are possible and a standard operating procedure as per globally approved norms is followed in case of any technical snag,” Kumar said.

“Passengers affected via flight diversions or delays won’t be happy but safe navigation is our priority. As per last one year data, one aircraft sees 0.6 snag in a year. There may be 1-2 technical incidents in a day across 6000 flight movements. A pilot has to be alert and attentive when it comes to any sign of technical snags. Many times, an indicator for a technical snag may be false but a pilot has to respond to that as well as per SOP,” Kumar added.

He further said that technical glitches can and do happen in Indian aircraft as well as in foreign registered aircraft. In fact, there have been five technical glitches in foreign airlines reported over the last five days.

“Countries globally face technical snag incidents in aircraft, India is not an exception. We guarantee safety by following SOP and processes prescribed. Technical glitches in aircraft are not a matter to lose sleep over or to panic about. Technical snags will happen and we have to handle them with maturity. The hullabaloo over technical glitches in aircraft is unjustified,” Kumar said.

The matter of air safety has come into focus over the last month after multiple incidents of technical glitches were reported across airlines including SpiceJet, GoFIRST, IndiGo, Air India, Vistara and Air India Express related to engine glitches, windshield crack, smoke in cabin, equipment malfunction among others.

While there is a usual spike in incidents during the monsoon season, the recent situation does indicate weak focus on aircraft maintenance by the airlines.

The airlines in India and over the world witnessed one of the worst nightmares over the last two years due to weak traffic, unused aircraft and bleak revenue environment. The net loss for Indian carriers is pegged at around 18,500 crore in FY21 and for FY22 it is expected to be over Rs 20,000 crore.

Also read: Vistara nearly catches up with SpiceJet in terms of market share

On the other hand, while there has been recovery in traffic, the numbers have not been able to hold and the domestic traffic is currently around 70-75% of pre-COVID level. As a result, while fares are high they are not aiding the revenue environment as airlines are not able to utilise 100% fleet due to lower demand.  In addition, there are steady headwinds of heavy taxation on aviation turbine fuel and a weak rupee. Hence, several industry experts indicate that there is an underlying issue of capitalisation and airlines continue to strengthen their cost-cutting steps.

Recently, after instances of aircraft clearance by junior engineers, DGCA issued an order to all airlines mandating them to depute senior engineers to okay an arriving or departing aircraft. The aim of the order is to ensure efficiency in aircraft maintenance with correct identification of snags.  

With 100-120 aircraft expected to be added every year to the Indian aviation market, regular and efficient maintenance will be key for smooth operations. The current fleet of Indian airlines includes 692 aircraft, of which IndiGo leads with 283 planes, then Air India at 116, then SpiceJet at 87, GoFIRST at 57 and Vistara at 56.

Low-cost carrier SpiceJet has been under enhanced radar by the regulator after multiple incidents of technical snags were reported at the airline over the last two months. This followed a showcause notice to the airline on Jul 5 and now a cap has been imposed on the airline whereby it is allowed to operate up to 50% of its summer schedule.

“We took action on SpiceJet as the airline currently does not have capacity to operate more than 50% flight operations. It is an unprecedented action on a scheduled carrier’s capacity in Indian aviation history. Our objective is to ensure a safe and efficient running of an airline, not close down a running airline. SpiceJet has shown signs of improvement and they are more careful now. SpiceJet engineers are working day in and day out, and ensuring that aircraft with any technical snag does not operate,” Kumar said.

Wage dispute has also emerged at the Indian airlines over the last two years as airlines implemented salary cuts. Recently, several cabin crew and technicians at IndiGo and GoFIRST went on mass leave as a mark of silent protest towards low wages. While the matter of wages is solely between an employer and employee, the regulator clarified that there is some role for it when it impacts safety.

“There is some role for us in wage dispute at airlines when it comes to safety. There is a role for us to intervene when employees are disgruntled, not working or not reporting. We had intervened when there was an issue with two airlines regarding wages,” Kumar said.

As part of the annual surveillance plan for 2022, the DGCA will conduct 3700 checks. In line with the increasing work simultaneous with expanding fleet size, the regulator also plans to increase its workforce by 100-150 people over the next 6-8 months for night checks and enhanced monitoring.

Also read: Bombay HC orders BMC to demolish 48 obstacles in way of Mumbai airport runways

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

 Daily Newsletter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Previous Article

Oil Fluctuates as Traders Assess China’s Vow, Unrest in Libya

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today's market

index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
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 5 Minutes Read

DGCA to hire 100-150 people over next 6-8 months for enhanced aviation safety surveillance

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

 Listen to the Article (6 Minutes)

Summary

The Directorate General of Civil Aviation (DGCA) on Friday said it’s hiring 100-150 people over the next 6-8 months for enhanced aviation safety surveillance via night checks.

Indian aviation regulator will hire 100-150 people over the next 6-8 months for enhanced aviation safety surveillance via night checks as the Indian airlines fleet expand, Directorate General of Civil Aviation (DGCA) Director General Arun Kumar told CNBC-TV18 in an exclusive interview.

“At DGCA, we mean business and safety is non-negotiable,” Kumar said.

A total of 177 surveillance, 497 spot checks, and 169-night surveillance have been carried out by DGCA on engineering and maintenance aspects of scheduled operators during the last year between July 2021 and June 2022.

Based on the violations found during surveillance, spot checks, and night surveillance carried out during 2021-22, enforcement action has been taken by DGCA against responsible personnel of an airline in 21 instances of violations.

Also Read: Vistara nearly catches up with SpiceJet in terms of market share

“Aircraft is a complex sturdy machine with lakhs of components and its usage is very rigorous. India has a very young fleet and their flight dispatch reliability is one of the best in the world. Once in a while, technical snags are possible and a standard operating procedure as per globally approved norms is followed in case of any technical snag,” Kumar said.

“Passengers affected via flight diversions or delays won’t be happy but safe navigation is our priority. As per last year’s data, one aircraft sees 0.6 snags in a year. There may be 1-2 technical incidents in a day across 6,000 flight movements. A pilot has to be alert and attentive when it comes to any sign of technical snags. Many times, an indicator for a technical snag may be false but a pilot has to respond to that as well as per SOP,” Kumar added.

The regulator keeps a regular tab on the Indian airlines via annual surveillance plan, spot checks, night surveillance, and cockpit surveillance so that only airworthy aircraft are in operation, Kumar added.

Also Read: Bombay HC orders BMC to demolish 48 obstacles in way of Mumbai airport runways

“There is a bit of hype and unnecessary hoopla around normal events. Several times, a rejected take-off or missed approach is actually a safety manoevure and enhances safety. Air travel is absolutely safe and our record is terrific,” Kumar said.

The matter of air safety has come into focus over the last month after multiple incidents of technical glitches were reported across airlines including SpiceJet, GoFIRST, IndiGo, Air India, Vistara, and Air India Express related to engine glitches, windshield cracks, smoke in the cabin, equipment malfunction among others.

As part of the annual surveillance plan for 2022, the DGCA will conduct 3700 checks.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

 Daily Newsletter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Previous Article

Oil Fluctuates as Traders Assess China’s Vow, Unrest in Libya

Next Article

Shanghai residents turn to NFTs to record COVID lockdown, combat censorship

LIVE TV

today's market

index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
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Vistara nearly catches up with SpiceJet in terms of market share

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

 Listen to the Article (6 Minutes)

Summary

For the other Tata airline, Air India, the ride has been rather bumpy in terms of market share. While the airline has seen a bit of an increase in market share from 7.2 percent in May to 7.5 percent in June, but the drop has been significant as compared to 10.2 percent in January 2022 and 10.6 percent as of December 2021.

The market share of Indian airlines in the domestic aviation sector has seen a shift over the last one year as the competition has heated up in a scenario of less demand and more supply.

While the domestic civil aviation traffic crossed the pre-pandemic levels of around 4 lakh daily air passengers, the numbers have not been able to hold. Currently, the traffic is holding at around 70 to 75 percent of the pre-pandemic levels.

In this background, the airlines in India, whether full-service or low-cost carriers, have tried to engage as many passengers as possible in order to develop a decent revenue environment.

In terms of fleet size among Indian airlines, IndiGo leads with 283 airplanes, followed by Air India at 116 aircraft, SpiceJet at 87 aircraft, GoFIRST at 57 planes, Vistara at 56 aircraft, AirAsia India at 28 planes and Alliance Air at 19 aircraft.

Vistara, the joint venture between Singapore Airlines and Tata Group, has emerged as an outperformer in the race as its market share has risen to 9.4 percent in June as compared to 8.6 percent in May 2022 and 7.2 percent in June 2021. This is Vistara’s second-best performance as the highest market share for the airline was at 9.7 percent, which was secured in February 2022.

SpiceJet, which witnessed a spike in technical snags over the last two months, saw a drop in market share in June to 9.5 percent from 10 percent in May. On a yearly comparison, the airline had a market share of 9 percent in June 2021.

Also Read: Rakesh Jhunjhunwala-backed Akasa Air opens flight ticket bookings

IndiGo, the largest Indian carrier, has shown an increase in its market share in June at 56.9 percent, up from 55.6 percent in May 2022 and also rising on year from 54.7 percent in June 2021.

For the other Tata airline, Air India, the ride has been rather bumpy in terms of market share. While the airline has seen a bit of an increase in market share from 7.2 percent in May to 7.5 percent in June, but the drop has been significant as compared to 10.2 percent in January 2022 and 10.6 percent as of December 2021.

The third airline under the Tata umbrella, AirAsia India, witnessed a drop in its market share to 5.6 percent in June from 6 percent in May. However, on a yearly comparison, the airline has shown improvement in market share from 3.4 percent in June 2021.

GoFIRST, the airline which is struggling to utilise its full fleet size due to delay in engine deliveries for its A320neos, also saw an impact in market share. It fell to 9.5 percent in June from 11.1 percent in May 2022. However, the share has increased from 8.3 percent in June 2021.

Also Read: Airlines cannot charge you extra money for printing boarding pass

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

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Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

 Daily Newsletter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

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today's market

index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
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Indian aviation navigating through one headwind after another

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

 Listen to the Article (6 Minutes)

Summary

The total number of airplanes in the country is expected to increase by 100-120 aircraft every year but what is also to be kept in mind is that as the fleet size is increasing, this fleet will also need adequate maintenance for smooth operations.

The Indian aviation sector has been navigating through one headwind after another over the past two years. But the last couple of months has been significatly bumpy.

As of July 14, there are 692 aircraft in India, of which IndiGo leads with 283 planes, Air India is at 116, SpiceJet has 87, GoFIRST has 57, Vistara at 56, AirAsia India has 28, and Air India Express has 24.

The total number of aeroplanes in the country is expected to increase by 100-120 every year. But what is to be kept in mind is that as the fleet size increases, the need for more maintenance for smooth operations also rises.

Also Read: Rakesh Jhunjhunwala-backed Akasa Air opens flight ticket bookings

But this has not been happening, and this is the problem that the industry has been facing for a while now. There have been incidents of engine glitches, windshield crack, smoke in the cabin, and equipment malfunction reported over the last two months across airlines, whether it is SpiceJet, GoFIRST, IndiGo, Vistara or Air India Express.

There have also been employee unrests — from pilots and cabin crew, to technicians — over low wages at IndiGo, GoFIRST, and SpiceJet. The infamous mass sick leave by over 200 cabin crew of IndiGo in early July led to massive delays at the largest Indian airline, with its on-time performance of the day plunging to 45 percent.

In terms of financial health, airlines have seen one of their worst nightmares over the last two years due to weak traffic, unused aircraft, and a bleak revenue environment. The net loss is pegged at around Rs 18,500 crore in FY21, and for FY22, the net loss is expected to be over Rs 20,000 crore.

Also Read: SpiceJet announces 26 new domestic flights under the UDAN scheme

While there has been a recovery in traffic, the numbers have not been able to hold, and the domestic traffic is presently around 70-75 percent of the pre-COVID level.

As a result, while fares are high, they are not really helping the revenue environment as airlines cannot utilise 100 percent fleet due to lower demand. In addition, there is always a steady headwind of heavy taxation on aviation turbine fuel and a weak rupee.

So, broadly there is an issue of capitalisation, and airlines always seem to strengthen their cost-cutting steps.

Also Read: Your flights to London could face delays due to chaos, staff crunch at Heathrow Airport

As far as the civil aviation regulator Directorate General of Civil Aviation (DGCA) is concerned, a recent order said the regulator noticed airlines were not making proper identification of defect causes, there is non-availability of certifying staff for multiple flights, and as a result, airlines have been asked to place qualified engineers at all stations to approve an arriving and departing flight.

Going forward, we can expect more spot checks by DGCA to check for maintenance and aircraft airworthiness, Union aviation minister Jyotiraditya Scindia also recently met airlines and told them to strengthen their ecosystem and more tightening of maintenance norms is also expected.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

 Daily Newsletter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

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index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
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Airlines cannot charge you extra money for printing boarding pass

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

 Listen to the Article (6 Minutes)

Summary

The airlines have been asked by the ministry not to charge any additional amount for issuing boarding passes at the airport check-in counters, as the same cannot be considered within the ‘tariff’ as provided under Rule 135 of the Aircraft Rules, 1937.

In a big relief to passengers, the civil aviation ministry has asked airlines for not charging any additional money from passengers for issuing boarding passes at the airport counters.

“It has come to the notice of the ministry of civil aviation that airlines are charging an additional amount for issuing boarding passes from the passengers seeking check-in at airport counters. Such additional amount is not in accordance with the instructions given in the aforesaid order or as per extant provisions of the Aircraft Rules, 1937,” the civil aviation ministry has told airlines.

The airlines have, therefore, been asked by the ministry not to charge any additional amount for issuing boarding passes at the airport check-in counters, as the same cannot be considered within the ‘tariff’ as provided under Rule 135 of the Aircraft Rules, 1937.

Also read: SpiceJet announces 26 new domestic flights under the UDAN scheme

As part of general guidelines ahead of re-commencement of domestic flights post COVID pandemic, the ministry had asked airports and airlines to encourage passengers for web check-in and generate boarding pass in advance in order to minimize physical contact. 

Further, passengers were also asked to print bag tags and minimize charges on non-web-check-in travel.

With the new notification in place, while passengers are still encouraged to do web check-in and generate an electronic boarding pass on their phones, in the event that a passenger is required to print a boarding pass at the airport counter, the airlines cannot charge any additional amount.

Also read: Airline companies seek government intervention to fight jet fuel price hike

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

 Daily Newsletter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Previous Article

Oil Fluctuates as Traders Assess China’s Vow, Unrest in Libya

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today's market

index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
Quiz
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 5 Minutes Read

Akasa Air CEO Vinay Dube says Rakesh Jhunjhunwala is the perfect investor

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

 Listen to the Article (6 Minutes)

Summary

Akasa Air, CEO, founder, and managing director Vinay Dube said, “Rakesh is the perfect investor…Rakesh and his team are the perfect investors…he is proportionately involved in matters he thinks necessary and where it is very aviation and technical, he lets us do our thing.

Indian billionaire Rakesh Jhunjhunwala is the perfect investor and is proportionately involved with Akasa Air, CEO, founder, and managing director Vinay Dube told CNBC-TV18 in an exclusive conversation.

“Rakesh is the perfect investor…Rakesh and his team are the perfect investors…he is proportionately involved in matters he thinks necessary and where it is very aviation and technical, he lets us do our thing,” Dube said.

Billionaire investor Rakesh Jhunjhunwala has said he has invested $50 million in Akasa Air for a 40 percent shareholding. The airline intends to start flights from the end of July with two aircraft. Bengaluru is set to be one of the first bases for the airline.

Also Read: ICRA says Indian airlines surpass pre-COVID level in international traffic

The airline CEO said that it is focused on customers and its employees.

“Main aspect of our target is our employees and our customers, profitability will follow,” Dube said, adding that the airline is well-capitalised.

“We are incredibly thankful to our investors. Our focus is on launching a good airline with happy customers and happy employees. We have spent the last two years working on cost structure and now our focus lies on customers and employees,” Dube said. The airline had recently launched the cabin crew uniform which also showed the cabin crew wearing sneakers in place of heels.

The team behind Akasa also includes Aditya Ghosh who is the co-founder of the airline and is no stranger to the aviation world. He spent 10 years at IndiGo as the president and whole-time director. Ghosh added that they aim to have employee-friendly policies and want Akasa to be a listening organisation that acts on employees’ feedback.

Also Read: After clipping wings, DGCA asks Kerala transgender pilot to reapply for medical test for commercial flying licence

“During my time at IndiGo, the pilot attrition rate was 0.3 percent annualised…Our aircraft utilisation was among the highest…It is not a coincidence that good organisations far outstrip industry performance. There is a direct co-relation between happy employees and a great business. You need to respect each and every colleague around you. In the aviation business, everyone is equal and everyone just has a different role to play…Leaders have to walk in the shoes of employees,” Ghosh added.

In an interesting revelation, Ghosh said he was approached by both Dube and Jhunjhunwala within a span of a few months.

“Vinay called me in August 2020…Vinay said it is going to be difficult…I told Vinay it is such a great idea…A few months later, got a call from Rakesh Jhunjhunwala,” Ghosh said, adding that the deal was sealed within minutes as all three of them were on board.

“I was jumping with joy when Rakesh called me about Aditya…Felt like there is someone looking over me when heard about Aditya coming onboard,” Dube said.

As the airline enters a crowded low-cost carrier space, Dube said that while they want to offer affordable fares, affordable is relative to what is being offered in the market.

“There is a difference between strategy and tactic…we have cost structure under control to a large extent but pricing and fares are very market-driven,” Dube added.

Also Read: SpiceJet sees 9th technical glitch since June 19. A look at the timeline of events

The airline has factored in the biggest headwind of steep fuel prices and intends to get the competitive edge on the back of fuel efficiency.

“My mentor and CEO at Delta airlines said many times hope is not a strategy. For us, we have chosen the world’s most fuel-efficient plane. We also have the youngest fleet Hoping for lower fuel but have planned for higher fuel as well. My first spreadsheet in August 2020 had fuel at $40 per barrel..there is no static number in fuel planning. Focus is on getting a competitive advantage by being fuel-efficient,” Dube added.

The airline has ordered 72 Boeing 737 MAX airplanes and hopes to get 18 of these by end of FY23. So far, one aircraft has been delivered. The airline also recently received its air operator certificate from the Directorate General of Civil Aviation.

“The current order book for India is extremely healthy. We have 72 aircraft orders from Akasa. SpiceJet is our major customer for 737MAX. We have a wide-body order from Vistara. Folks at Tata and Air India have also talked about placing a large order in the future…Supply chains are still emerging from covid slowdown. If we miss commitments, there are operational consequences for airlines so we are being cognizant of supply chain issues while giving delivery schedule,” Salil Gupte, president of Boeing India said.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

 Daily Newsletter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Previous Article

Oil Fluctuates as Traders Assess China’s Vow, Unrest in Libya

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today's market

index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
Quiz
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 5 Minutes Read

ICRA says Indian airlines surpass pre-COVID level in international traffic

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

 Listen to the Article (6 Minutes)

Summary

“With the resumption of scheduled international operations since March 27, 2022, and reversion to bilaterally-agreed capacity entitlements, the international passenger traffic for Indian carriers is on a growth trajectory and surged to around 2.1 million in June 2022, which has notably surpassed the international passenger traffic of around 1.8 million witnessed in June 2019 (pre-Covid level) by around 18 percent,” ICRA said in a statement today.

The domestic airlines have surpassed pre-COVID level of international air traffic in the month of June, rating agency ICRA has said.

“With the resumption of scheduled international operations since March 27, 2022, and reversion to bilaterally-agreed capacity entitlements, the international passenger traffic for Indian carriers is on a growth trajectory and surged to around 2.1 million in June 2022, which has notably surpassed the international passenger traffic of around 1.8 million witnessed in June 2019 (pre-Covid level) by around 18 percent,” ICRA said in a statement today.

In the domestic market, the air passenger traffic dipped marginally in June as compared to the previous month.

Also read: Jet Airways hires two Go First executives at top posts

For June 2022, the average daily departures were at around 2,771, notably higher than the average daily departures of around 1,056 in June 2021.

As business travel returns to normalcy, the domestic passenger traffic grew to around 10.5 million in June 2022 from 3.1 million in June 2021 and was only 12 percent lower compared to pre-covid level of 12.0 million seen in June 2019,

On a sequential basis, the domestic air passenger traffic in June 2022 was around 13 percent lower than May 2022, primarily due to the seasonality impact related to the re-opening of schools, ICRA added.

The airlines’ capacity deployment for June 2022 was 1.6 times higher than in June 2021 but on a sequential basis, the number of departures in June 2022 was lower by around 4 percent compared to May 2022.

Also read: Low wages, better pay opportunities reason behind aviation mass leaves

In terms of the passenger load factor, the average number of passengers per flight during June 2022 was 127, lower than an average of 140 passengers per flight in May 2022 and an average of 139 passengers per flight in June 2019.

The recovery in passenger traffic is expected to be relatively faster in the current financial year with the return to normalcy situation. However, an overhang of any further Covid wave looms on the sector.

There are also added risks due to elevated ATF prices, which have risen by 120Percent on year. Also, the situation has been further aggravated by geo-political issues due to Russia-Ukraine conflict. These issues will remain a near-term challenge for the industry, ICRA added.

The recent depreciation of rupee has further added to the industry woes, ICRA said.

Also read: Airports provide diaper changing stations in men’s restroom

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

 Daily Newsletter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Previous Article

Oil Fluctuates as Traders Assess China’s Vow, Unrest in Libya

Next Article

Shanghai residents turn to NFTs to record COVID lockdown, combat censorship

LIVE TV

today's market

index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
Quiz
Powered by
Are you a Crypto Head? It’s time to prove it!
10 Questions · 5 Minutes
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Win WRX (WazirX token) worth Rs. 1500.
Question 1 of 5

What coins do you think will be valuable over next 3 years?

Answer Anonymously

Should Elon Musk be able to buy Twitter?