In an internal letter to employees, Kannan said that the Tata Group-owned airline has stabilised operations with its on-time performance (OTP) increasing to 89% on April 9, 2024.
The liabilities stem from a loan acquired by the airline in 2011 for the procurement of 15 aircraft, says the airline.
The low-cost carrier expects the addition of more than one aircraft per week and an additional 10 destinations.
The aviation industry is estimated to report a similar net loss of ₹3,000-5,000 crore in FY25 as well, says ICRA
The Gangwal family led by Rakesh Gangwal looks to sell 4% stake in IndiGo at a floor price of ₹2,400 per share, a discount of 5.8% to Monday’s closing price.
During the month under review, the market share of Akasa Air increased from 4.8% in May to 4.9% in June.
Ajay Singh, the promoter of SpiceJet will infuse ₹500 crore by way of subscription to equity shares and/or convertible securities/equity share warrants on a preferential basis.
The recent bankruptcy filing by rival GoFirst has thrown the spotlight yet again on SpiceJet, with many convinced it may be next in line
Go First said that Pratt & Whitney's failure to provide engines led to the grounding of close to 50% of its A320 neo fleet and cost the airline ₹10,800 crore in revenues and additional expenses.
The matter pertains to non-payment of dues by SpiceJet to its lessor Aircastle Ireland.
