Tag: SpiceJet

SpiceJet announces Delhi-Phuket direct flight from May 31; timings, other details here

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

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Budget carrier SpiceJet on Monday, May 13, announced that it will start daily non-stop flights from New Delhi to Phuket in Thailand from May 31.

The airline said that this new service will complement its existing operations in Bangkok from Kolkata and Delhi.

SpiceJet’s daily non-stop flights between Delhi and Phuket have been conveniently timed to ensure a hassle-free travel experience for the people. While the departing flight from Delhi will take off at 9 am and arrive in Phuket at 3:15 pm, the return flight will depart Phuket at 4:15 pm and arrive in the national capital at 7:20 pm.

As per the official statement, the airline has started bookings for this new route on its official website as well as through travel agents.

“We are incredibly excited to launch our first-ever service to Phuket, a world-renowned destination. We are confident that our new daily non-stop flights will be a popular choice for both leisure and business travellers and will make their journey to Phuket seamless, allowing them to maximise their time enjoying the island’s beauty,” Ajay Singh, Chairman and Managing Director, SpiceJet said in a statement.

Singh noted that this new route will strengthen the airline’s commitment to “expanding our international network and offering our passengers a wider range of exciting destinations.”

Phuket, Thailand’s largest island, is known for its pristine beaches, rich cultural heritage and vibrant nightlife. This new service is expected to provide travellers with a convenient and affordable way to experience the region.

This comes after SpiceJet commenced its Haj operations last week with the inaugural flights departing from Srinagar to Medina.

The flights operated through two wide-body A340 aircraft, with each of them having a seating capacity of 324 passengers. Besides Srinagar, the airline is also operating special Haj flights from Guwahati, Gaya, Bhopal, Indore, Aurangabad, and Vijayawada. For this service, it will also use its Boeing 737 MAX aircraft.

Last year, the airline generated a revenue of ₹337 crore from the Haj operations, it said in a statement.

SpiceJet is operating these special flights from major cities like Srinagar, Gaya, Guwahati, Bhopal, Indore, Aurangabad, and Vijayawada to Medina between May 9 and May 31.

The return flights from Jeddah have been scheduled between June 22 and July 15.

As per the official statement, the airline will operate as many as 102 special flights, catering to over 13,800 pilgrims during this special operation.

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

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

Indian airlines issue advisory for flights to and from Dubai, Sharjah and Abu Dhabi

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

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Indian airlines have issued an advisory for flights to and from Dubai, Sharjah and Abu Dhabi due to adverse weather conditions. IndiGo, SpiceJet and Vistara airlines have issued passenger advisory alert.

Heavy rains and thunderstorms lashed the UAE on Thursday, May 2, two weeks after Dubai was hit by unprecedented storms that paralysed the emirate for days. On May 1, the country’s National Emergency Crisis and Disaster Management Authority (NCEMA) elevated the readiness and preparedness levels of the national system to deal with the situation.

While these rains are expected to be less severe than the unprecedented downpour that hit the country last month, the public is urged to take precautions. On April 14-15, extreme rainfall battered regions of the Arabian Peninsula, with Dubai experiencing the heaviest rains on record since 1949.

“Due to adverse weather conditions in Dubai, Sharjah and Abu Dhabi, our flight operations are impacted. Please keep a track of your flight status before leaving for the airport,” IndiGo has put a post on X.

#6ETravelAdvisory: Due to adverse weather conditions in #Dubai #Sharjah & #AbuDhabi , our flight operations are impacted. Please keep a track of your flight status at https://t.co/TQCzzyjLr2 before leaving for the airport.

— IndiGo (@IndiGo6E) May 2, 2024

“Due to the anticipated bad weather conditions from May 2 to 5, traffic congestion is expected enroute to Dubai Airport. Customers are advised to allow more time for their journey to the airport. Thank you,” Vistara issued an advisory.

#TravelUpdate: Due to the anticipated bad weather conditions from May 2nd to May 5th, traffic congestion is expected enroute to Dubai Airport. Customers are advised to allow more time for their journey to the airport. Thank you.

— Vistara (@airvistara) May 1, 2024

SpiceJet also asked passengers to keep a check on their flight status. “Due to bad weather (thunderstorms with rain) in Dubai (DXB), all departures/arrivals and their consequential flights may get affected. Passengers are requested to keep a check on their flight status.”

#WeatherUpdate: Due to bad weather (thunderstorms with rain) in Dubai (DXB), all departures/arrivals and their consequential flights may get affected. Passengers are requested to keep a check on their flight status via https://t.co/VkU7yLjZly.

— SpiceJet (@flyspicejet) May 2, 2024

The UAE has issued an alert for heavy rains for two days.

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

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

DGCA asks airlines to come up with timeline to implement new FDTL norms

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

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The Directorate General of Civil Aviation on Wednesday, April 10, asked airlines to come up with a timeline for the implementation of the new rules on pilot duty and rest periods i.e., Flight Duty Time Limitations (FDTL).

In a letter to airlines, the aviation safety regulator asked to “kindly indicate the timeline required to prepare a roadmap for implementation of the new revised FDTL norms and the timeline for subsequent implementation of the same.”

#NewsFlash | #DGCA has written to all airlines seeking timeline of implementation of new #FDTL Norms

– DGCA has asked airlines about the road map of implementation of FDTL Norms pic.twitter.com/KDGXcFJLA1

— CNBC-TV18 (@CNBCTV18Live) April 10, 2024

The DGCA move comes after the Delhi High Court on April 1 asked the regulator for a tentative date for the implementation of the revised FDTL norms. The court will hear the matter now on May 8.

The rules governing pilot work hours were amended in January, with the revision including an increase in the weekly rest period from 36 to 48 hours. The original deadline for the revised rule to come into effect was June 1 but the new FDTL norms were put on hold after reservations from airlines. The airlines warned the rules would force them to cancel 20% of the flights at the peak of the summer travel season.

Last month, the Federation of Indian Pilots wrote to the civil aviation minister Jyotiraditya Scindia and the DGCA, highlighting the need to implement the revised FDTL norms considering the safety of passengers.

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

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

Former SpiceJet chief Arun Kashyap launches private charter carrier Sirius India Airlines

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

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Former SpiceJet executive Arun Kashyap has launched Sirius India Airlines, a private charter carrier aimed at catering to the upscale travel market.

Kashyap, who served as the Chief Operating Officer at SpiceJet until early March, revealed plans to enter the air charter business, marking a strategic departure from his previous role in the commercial airline sector.

Sirius India Airlines has set its sights on expansion, starting operations with a single Hawker 4000 jet. However, the ambitious venture aims to swiftly expand its fleet, with projections to grow to three jets in the upcoming months.

“The joint venture aimed to provide a one-stop solution in the segment of charter business, fractional ownership in India and globally,” the company said in a press release.

In a move aimed at bolstering its operations and reach, Sirius India Airlines has entered into a partnership with Dubai-based Transworld Global Group’s Airavat Aviation. Airavat Aviation is a luxury private air travel with a presence in the Middle East, Europe, Africa, and Asia.

Looking ahead, Sirius India Airlines has outlined ambitious growth targets, with plans to incorporate a diverse range of aircraft into its fleet. By the end of the fiscal year 2025, the airline aims to add nearly a dozen charter aircraft, ranging from 9-seaters to 100-seaters, catering to various travel needs and preferences.

The launch of Sirius India Airlines signifies a new chapter in the aviation industry, promising enhanced accessibility and luxury in the realm of private air travel. With Kashyap’s leadership and strategic collaboration with Airavat Aviation, the airline is poised to make significant strides in the burgeoning charter market.

Also Read: Go First gets 60 more days to complete resolution process as lenders assess two revival plans

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

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

SpiceJet signs settlement agreement with Export Development Canada to resolve ₹755 crore liabilities

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

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Domestic carrier SpiceJet has signed a settlement agreement with Canada’s export credit agency Export Development Canada to resolve ₹755 crore ($91 million) liabilities, which are likely to generate savings of ₹567 crore ($68.3 million), the airline said on March 26.

Under the agreement’s terms, SpiceJet will acquire full ownership of 13 EDC-financed Q400 aircraft, the airline said. It added that the settlement marks the biggest breakthrough in the airline’s financial restructuring efforts to date.

The airline said it will pay a comprehensive settlement amount to resolve outstanding liabilities amounting to close to ₹755 crore as per SpiceJet books of accounts.

The liabilities stem from a loan acquired by the airline in 2011 for the procurement of 15 aircraft. With 12 of these Q400s currently grounded, their refurbishment and subsequent return to service will enable SpiceJet to promptly launch flights on numerous regional and UDAN routes, the firm said. It added that this agreement liberates it from the obligation of regular monthly rentals for these aircraft.

Also Read: SpiceJet signs settlement agreement with Export Development Canada to resolve ₹755 cr liabilities

Ajay Singh, Chairman and Managing Director of SpiceJet, said, “This will allow us to strengthen our balance sheet and position the airline for long-term success.”

This is the fourth major resolution for SpiceJet following its recent fundraising.

Separately, earlier this month SpiceJet had announced that it successfully resolved a ₹413 crore dispute with Echelon Ireland Madison One Ltd which will result in savings of ₹398 crore. As part of the agreement, SpiceJet would also acquire two airframes.

On February 28, SpiceJet said it had mutually settled its ₹250 crore dispute with Celestial Aviation which had resulted in savings of ₹235 crore and on March 5, it announced a settlement of ₹93 crore with aircraft leasing firm Cross Ocean Partners.

SpiceJet shares traded 5.5% higher at ₹61.98 on BSE at 1:30 pm.

Also Read: Fewer flyers took domestic flights in Feb, IndiGo continues to fly most passengers

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

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

Go First sale: Sky One offers more money ahead of the bid review on Friday

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

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CNBC-TV18 has learnt that Sharjah-based aviation solution provider Sky One has offered more money upfront in its bid to acquire the now insolvent airline, GoFirst.

The move has come before a likely meeting on Friday (March 22) when the lenders will review the bids on the table, according to a source.

According to a person in the know, Sky One is now offering lenders ₹750 crore, compared to ₹410 crore earlier. The bidder has also already offered to pay lenders 25% of the amount received from the settlement in the Pratt and Whitney case.

ALSO READ: Go First revival: The Dubai connection

CNBC-TV18 previously reported that GoFirst has received two bids for the airline: one from a consortium led by SpiceJet chief Ajay Singh and Nishant Pitti from Busy Bee Airways and the second from Sharjah-based Sky One.

According to sources, the other bidders, the Singh-Pitti consortium, have not revised their offer for GoFirst. They had offered to pay the lenders ₹290 crore upfront.

While this is less than the ₹750 crore offered by Sky One, the Singh-Pitti consortium has promised to pay the entire amount — compared to the 25% offered by the competing bidder, Sky One — received from the arbitration against engine maker Pratt and Whitney, a person directly in the know told CNBC-TV18.

CNBC-TV18 had earlier reported that with Corporate Insolvency Resolution Process (CIRP) costs estimated at ₹600 crore, financial creditors were concerned that the upfront money offered by the bidders (₹410 crore and ₹290 crore) don’t leave anything on the table for the lenders.

However, the revised offer from Sky One to pay ₹750 crore upfront may ease some of that concern.

Along with the review of the bids on Friday, the lenders will also determine whether the plans submitted comply with the rules and regulations under the Insolvency and Bankruptcy Code.

“Unless plans are compliant, they cannot be put to vote. Once compliance is ensured, negotiations will continue with both the bidders,” said this person.

How much is GoFirst expected to get from Pratt and Whitney settlement?

Neither of the suitors has indicated how much they expect to recover from Pratt & Whitney or when the settlement is expected.

However, according to one of the sources quoted above, the bidders expect over a billion dollars in settlement from Pratt and Whitney.

In May 2023, when GoFirst filed for bankruptcy, its then-CEO Kaushik Khona said that the airline expected $1.1 billion (about ₹9,100 crore at current exchange rate) in compensation from the US-based engine maker.

GoFirst had sued Pratt and Whitney in an international court for faulty engines, which led to 25 of the airline’s fleet getting grounded in May 2023.

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

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

SpiceJet and travel agent fined by consumer forum for inadequate refunds on COVID-19 cancelled flights

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

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Chandigarh District Consumer Disputes Redressal Commission recently imposed a penalty of ₹15,000 on SpiceJet and a travel agent for a partial refund of fares for flights cancelled during the COVID-19 pandemic reported Bar and Bench.

A coram of President Pawanjit Singh and members Surjeet Kaur and Suresh Kumar Sardana noted that the airline failed to explain why it withheld the refunds despite strict government guidelines to issue full refunds for flights cancelled during the pandemic, Bar and Bench said.

“The OPs have utterly failed to explain as to on what account they have withheld the remaining ticket amount with them once there were strict guidelines by the Government to refund full ticket amount to the passengers during the COVID period,” the order said.

The Commission was hearing two complaints alleging that for flight bookings made in early April 2020, the airline had not issued a refund despite specific guidelines by the Ministry of Civil Aviation,  Bar and Bench reported.

The Ministry had issued an advisory to all airlines to issue full refunds without cancellation charges for flights cancelled between March 25, 2020 and April 14, 2020. In one of the complaints, the complainants received only ₹33,743 against ₹42,539 they paid for the booking. In the second, complainants received ₹10,855 against ₹13,190.

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

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

InterGlobe Group, SpiceJet purchased electoral bonds, shows Election Commission data

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

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The electoral bonds data made public by the Election Commission of India after the apex court’s order has revealed two Indian airlines in total purchased bonds worth ₹56.65 crore. While bonds purchased by IndiGo and it’s sister companies and allegedly it’s promoter sums up to ₹56 crore, SpiceJet purchased bonds worth ₹65 lakh.

IndiGo was founded by Rahul Bhatia and Rakesh Gangwal in 2006 and is currently India’s largest airline in terms of market share and fleet size with over 300 aircraft.

Interglobe Enterprises as per the website is a ‘conglomerate’ with business in aviation, hospitality and logistics.

As per the data, InterGlobe Air Transport Ltd  purchased 11 electoral bonds on  May 10, 2019. The value of each bond was ₹1 crore each, taking the total to ₹11 crore. IndiGo airlines over the years has taken the full advantage of the vacuum in the market as many big airlines shut in India over the years.

Moreover IndiGo in December 2019 became the first Indian airline to operate 1,500 daily flights.

On December 31, 2019, it became India’s first airline to have a fleet of more than 250 aircraft.

InterGlobe Real Estate Ventures which is part of the Interglobe ‘conglomerate’ purchased 20 electoral bonds on May 10, 2019.

Each bond value was ₹1 crore each, taking the total to ₹20 crore.

As per secondary research sources, directors of InterGlobe Real Estate Ventures Private Limited include Rohini Bhatia who is the wife of promoter Rahul Bhatia. Rohini Bhatia is the chairperson of the CSR committee of the company. She is also the chairperson of InterGlobe Foundation, the philanthropic arm of InterGlobe Group.

Interglobe Aviation under which the low cost carrier IndiGo operates, purchased 5 bonds worth ₹1 crore each on October 23, 2023. Total bonds worth ₹5 crore were purchased by the entity. IndiGo currently has a fleet size of 350 aircraft, and operates over 2000 daily flights and flies to 87 domestic and 33 international destinations.

The data also revealed that an individual named Rahul Bhatia purchased electoral bonds worth ₹20 crore. 29 electoral bonds were purchased on April 7, 2021, of which the value of 19 bonds was ₹1 crore each and value of 10 bonds was ₹10 lakh each, taking the total to ₹20 crore. If the said Rahul Bhatia is the promoter of IndiGo, then one can clearly see that, the total electoral bonds purchased by the promoter, IndiGo and it’s sister companies sums up to ₹56 crore.

On the other hand, Ajay Singh led SpiceJet Airlines also purchased electoral bonds in three different tranches. Till a few years back the airline used to be the top 3 airlines in India and now has fallen to the 5th rank in terms of market share.

The ECI data revealed that SpiceJet in total purchased 20  bonds in 2021 worth ₹65 lakh.

In the first tranche, 7 bonds were purchased on January 8, 2021, 2 bonds were worth ₹10 lakh each and 5 bonds were worth ₹1 lakh each, taking the total to ₹25 lakh.

On April 9, 2021, 6 bonds were purchased by the budget carrier. Five bonds worth ₹1 lakh and one bond worth ₹10 lakh were purchased, taking the total to ₹25 lakh. The last set of bonds were bought on July 9, 2021, 2 bonds worth ₹10 lakh each and 5 bonds worth ₹1 lakh each. In total SpiceJet purchased bonds worth ₹65 lakh.

CNBC-TV18 has written to IndiGo and SpiceJet seeking comments. Comments are awaited.

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

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

Fewer flyers took domestic flights in Feb, IndiGo continues to fly most passengers

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

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The domestic airline traffic rose more than 4% annually in February, however, fewer people decided to travel via flights last month compared to January 2024 as the traffic dropped 3.7% on a month-on-month basis, data released by the Directorate General of Civil Aviation (DGCA) showed on March 15.

DGCA data also showed that domestic airlines flew 257.78 lakh air passengers between January – February 2024 as against 246.11 lakh during the corresponding period of the previous year.

IndiGo continued to be air passengers’ top choice in February even as its market share declined marginally to 60.1% from 60.2% in January. IndiGo lost market share after its On-Time Performance dropped to 43.7% on January 17, the lowest in the industry after the airline, and its operations were hit for two weeks due to fog-related disruptions in northern India.

Vistara’s market share in February remained unchanged at 9.9% and the airline flew 12.55 lakh passengers in the month. Air India’s market share rose in February to 12.8% from 12.2% last month. The market share of AIX Connect, which is also part of the Tata group-owned airlines, remained unchanged at 6.1%, as the carrier served 7.68 lakh passengers in February. Overall Tata Group’s airline market share now stands at 28.8%

SpiceJet’s market share, however, marginally slipped to 5.2% from 5.6% in January. Akasa Air’s market share stood at 4.5%.

These numbers are from the month in which Vinay Dube, the founder and CEO of Akasa Air, stepped in to address rumours about a shortage of pilots. Numerous posts on the social media platform X (formerly Twitter) claimed that Akasa Air’s flights were cancelled on February 11 and 12 due to a shortage of pilots.

Meanwhile, SpiceJet earlier this week announced that it has finalised lease agreements for 10 aircraft to augment capacity to prepare for the upcoming summer schedule.

It must be noted that aviation consultancy firm CAPA Advisory had in November 2023 given guidance that close to 200 aircraft from India’s operational fleet were expected to be grounded by the end of the 2023-24 fiscal.

In terms of punctuality, AIX Connect was the most punctual airline operating in India in February and overtook Akasa Air, as per the aviation regulator’s data. AIX Connect turned in an on-time performance of 73.5% at the four metro airports – New Delhi, Bengaluru, Hyderabad and Mumbai.

Akasa Air and IndiGo were second and third, followed by Vistara. Airlines’ on-time performance rose in February after heavy fog forced flight delays throughout December and January.

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

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

SpiceJet leases two A340s for Haj operations, aims to match last year’s ₹337 crore revenue

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

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Homegrown low-cost airline SpiceJet, on Friday, announced the lease of two wide-body A340 aircraft to enhance its fleet for the upcoming Haj operations. The aircraft, each with a seating capacity of 324, will be deployed from Srinagar and Guwahati.

Chandan Sand, Head of Leasing and Legal at SpiceJet, in a company statement, said, “These A340s will not only elevate our service standards but also play a vital role in enhancing our revenue streams.”

The first phase of the Haj operations is scheduled to commence on May 9, 2024, to Medina. Flights are planned from seven Indian cities, including Srinagar, Gaya, Guwahati, Bhopal, Indore, Aurangabad, and Vijayawada.

Also Read: Facial recognition now mandatory for passport-less migrants on US flights

Last year, SpiceJet’s Haj operations generated a substantial revenue of ₹337 crore, with over 200 special flights carrying more than 21,000 pilgrims.

The airline aims to replicate this success in the current year’s operations.

Sand added, “We are actively pursuing opportunities to expand our fleet through long-term lease agreements, which will not only bolster our existing fleet but also facilitate the expansion of our network.”

Also Read: Centre approves transfer of Air India Mumbai building to Maharashtra Government for ₹1,601 crore

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

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