jettytimes

[jettytimes]

Cirium schedules data shows that British Airways and Air India already operate between London Heathrow and Mumbai. Prior to its halting of international flights in April, Jet Airways' rival service accounted for 55% of the seat capacity between the two cities, the data shows. BA has itself already moved to add more 787-operated frequencies to its existing double-daily Heathrow-Mumbai service from July.

[jettytimes]

Low-cost carrier SpiceJet’s Chairman and Managing Director Ajay Singh was on Sunday elected to the board of the International Air Transport Association (IATA), less than three months after the airline joined the global grouping.

[jettytimes]

Currently, Vistara has more than 22 planes and operates around 850 flights every week.

Last month, the carrier announced it would take on lease four Boeing 737-800 NG aircraft and two A320 neo planes.

In 2018, Vistara placed its order for purchased and leased aircraft totalling 50 from the Airbus A320neo family, including A321neos.

[jettytimes]

India will need 2,300 new aircraft worth $320 billion in 20 years, Boeing forecast in February, as an emerging middle-class flies for the first time. Racing to extend its share of that market is SpiceJet, the country’s second-biggest no-frills carrier, which had almost shut down in 2014 after running out of cash.

Singh, who started SpiceJet in 2004 and sold it six years later to a regional media baron, repurchased and revived the airline by renegotiating contracts with vendors and cutting unprofitable routes. Crashing oil prices also helped him embark on an ambitious expansion, eventually giving the airline a market value of $1.3 billion.

The collapse of debt-laden Jet Airways India Ltd. gave SpiceJet an advantage over bigger rival IndiGo, run by InterGlobe Aviation Ltd. SpiceJet flies the same Boeing 737 family of aircraft as Jet, making it easier for the company to take over those planes.

SpiceJet shares have jumped about 70% this year, hovering near their all-time high.

[jettytimes]

Disagreements between major shareholders can be an expensive affair. Take the case of InterGlobe Aviation Ltd, which runs IndiGo, India’s largest airline.

Reports of a tussle between the airline’s two largest shareholders made the IndiGo stock nosedive on Thursday. By the end of the day’s trading session, it had lost nearly ₹5,600 crore, or about $800 million.

For perspective, that amounts to about 70% of the market capitalization of one of IndiGo’s competitors, SpiceJet Ltd.

[jettytimes]

IndiGo, India’s biggest airline by market share, saw its quarterly profit jump fivefold

The owner of IndiGo, India’s biggest airline by market share, saw its quarterly profit jump fivefold following the collapse of rival Jet Airways.

InterGlobe Aviation’s standalone net profit rose to Rs5.9bn ($84.8m) for the quarter ending March 31, compared with Rs1.18bn a year earlier.

Following the collapse of Jet last month, fares have spiked in India, a welcome windfall for air carriers in the world’s fastest-growing domestic aviation market. InterGlobe shares climbed 2.5 per cent to a record close ahead of the results.