Read more about Covid resurgence to delay Indian airports passenger recovery: Moody s on Business Standard. The rapid increase in new coronavirus cases is credit negative for Indian airports: report
Read more about Covid: No meal service on flights shorter than 2 hours, says govt on Business Standard. This comes as coronavirus cases continue to soar in the country
US-based fund Interups will pick up 49 per cent stake in Trujet, the companies announced in a joint statement today. The exact investment sum is yet to be finalised. Trujet began operations as a regional airline in 2015 and now serves 21 destinations with seven ATR-72 aircraft. The investment will help fund the airline’s expansion and mark Interups’ foray in Indian aviation. The airline has faced operational challenges in the past due to intermittent funding from its promoters leading to lack of spares and engines, industry sources said. Megha Engineering and Infrastructure Limited (MEIL) is majority owner of the airline. Interups has been promoted by chartered accountant Laxmi Prasad, a native of Andhra Pradesh. Earlier it had bid for Air India but withdrew its offer as the airline’s employees were unwilling to join hands for the bid. Interups has also bid for several stressed assets including Lavasa Corporation, Asian Colour Coated Steel and Reliance Naval. It had even
The domestic airport sector is expected to incur a net loss of Rs 5,400 crore, and cash loss of Rs 3,500 crore in FY21, impacted by a 66 per cent year-on-year slip in passenger traffic amid COVID-19 induced travel restrictions, rating agency Icra said in a note on Monday. It also said that given the significant delays in tariff orders in the past, timely tariff orders of regulator Airports Economic Regulatory Authority, which adequately compensates for the ongoing Capex and revenue loss due to COVID remains critical from the credit perspective. According to the agency, domestic passenger traffic may drop by 61 per cent, while the international passenger traffic will nose dive by 85 per cent in 2020-21.
IndiGo, SpiceJet and GoAir had on-time performance (OTP) of 93.7 per cent, 76.9 per cent and 72.8 per cent, respectively, in January this year, Civil Aviation Minister Hardeep Singh Puri said on Wednesday. IndiGo s OTP was highest among the three airlines in November and December last year too, stated data presented by Puri in his written reply to a question in Rajya Sabha. IndiGo s on-time performance in November and December 2020 was 97.5 per cent and 94.7 per cent, respectively, the minister mentioned. While SpiceJet s OTP was 91.7 per cent and 79.2 per cent in these two months, GoAir s on-time performance was 84 per cent and 77.8 per cent, he added.