Indigo interested to buy out Air Indias international services
The Dollar Business Bureau Soon after the Cabinet cleared the consideration of Air India's disinvestment, leading domestic airline IndiGo has shown its willingness in buying the flight operations of the national carrier, specifically overseas services. IndiGo President Aditya Ghosh sent a letter to the Minister of Civil Aviation Gajapathi Raju expressing interest to buy out the international services of Air India as the airline looks to spread its operations overseas. “Kindly treat this letter as our expression of interest in acquiring the international airline operations of Air India and Air India Express. Alternatively, we are equally interested in acquiring all of the airline operations of Air India and Air India Express,” said Ghosh in the letter. IndiGo is a leader in the domestic market ...
IndiGo to start 14 new flights from May 2016
The Dollar Business Bureau IndiGo, a low-cost carrier, is going to add a fleet of new aircrafts to its network from May, to make its presence felt in the fastest growing aviation market in India. The domestic market rose by 25 percent in the year ending March 31, 2016, compared to the records of last year. The airliner, headquartered in Gurugram, will add 14 new flights on the domestic routes. This includes daily non-stop flights connecting Bengaluru to Ahmedabad, Bengaluru to Jaipur, Kolkata to Hyderabad and Chennai to Kochi from May 1. Besides, the carrier starts new non-stop flights from Jaipur to Bengaluru, Kochi to Chennai from May 2, on daily basis. From May 6, the airliner will also maximize the flight frequencies from ...
Domestic air travel increases during the month of March
The Dollar Business Bureau India’s aviation sector has continued to grow, with the total number of passengers travelling in the month of March increasing to 78.72 lakhs. The DGCA’s (Directorate General of Civil Aviation) data showed that domestic airliners carried over 78 lakh passengers in the month of March when compared to 74.76 lakh in February. The low-cost, Gurgaon based airliner Indigo led the way by carrying 85.03 lakh passengers in the Jan-Mar 2016 period. As a result the share of the company increased to 38.4% in March, as per the cumulative data released by the DGCA. Indigo was followed by the Mumbai based Jet Airways, that carried 41.94 lakh passengers, whose market share increased to 17.6%, followed by the national carrier ...
Tweak in shareholding structure likely to up foreign investments in IndiGo Airlines
The Dollar Business Bureau Ahead of Initial Public Offer (IPO), the promoters of IndiGo airlines have decided to tweak the shareholding structure with an aim to create space for foreign investors. With this, US-based NRI Rakesh Gangwal, who was holding 47.88% stake in IndiGo airlines through Virginia-based company-Caelum Investments, will now hold a majority share of the airlines. A decision in this regard followed merger of Caelum Investments with InterGlobe Aviation (which operated the airlines by holding 51.12% stake), the process for which began last year when InterGlobe Aviation filed an application in the Delhi High Court seeking consent for a merger with Caelum Investments. Caelum Investments’ stake in the airlines was deemed as foreign investment and the promoters could have had ...
Jet continues to burn cash; FDI cap the culprit?
The Dollar Business Bureau There’s more bad news for prospective foreign investors in the Indian civil aviation sector as airlines major Jet Airways has reported a net loss of Rs.1,813.7 crore (standalone) for FY2015. This, despite a big fall in its fuel expense. The full year results that were released on Friday show that despite the carrier’s fuel expenses falling to just 34.2% of its sales – the lowest since FY2010 – losses continue to mount. While some might take heart from the fact that its FY2015 loss is a huge improvement from the Rs.3.667.9 crore loss the company had incurred in FY2014, its shares plunging by over 6% on Monday indicate that investors are tired of seeing the glass half ...
