INDIGO
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Indigo's Kochi-Delhi Flight Makes Emergency Landing In India's Nagpur After Receiving Bomb Threat - India Today
June 17 (Reuters) -
INDIGO'S KOCHI-DELHI FLIGHT MAKES EMERGENCY LANDING IN INDIA'S NAGPUR AFTER RECEIVING BOMB THREAT - INDIA TODAY
Source text: [ID:]
Further company coverage: INGL.NS
(([email protected];))
June 17 (Reuters) -
INDIGO'S KOCHI-DELHI FLIGHT MAKES EMERGENCY LANDING IN INDIA'S NAGPUR AFTER RECEIVING BOMB THREAT - INDIA TODAY
Source text: [ID:]
Further company coverage: INGL.NS
(([email protected];))
InterGlobe Enterprises Says Media Reports On IndiGo Stake Sale By Co Have No Factual Basis
June 16 (Reuters) - Interglobe Aviation Ltd INGL.NS:
INTERGLOBE ENTERPRISES - MEDIA REPORTS ON INDIGO STAKE SALE BY CO HAVE NO FACTUAL BASIS
INTERGLOBE ENTERPRISES - FIRMLY COMMITTED TO OVERSEE INDIGO'S LONG-TERM PLANS
Further company coverage: INGL.NS
(([email protected];))
June 16 (Reuters) - Interglobe Aviation Ltd INGL.NS:
INTERGLOBE ENTERPRISES - MEDIA REPORTS ON INDIGO STAKE SALE BY CO HAVE NO FACTUAL BASIS
INTERGLOBE ENTERPRISES - FIRMLY COMMITTED TO OVERSEE INDIGO'S LONG-TERM PLANS
Further company coverage: INGL.NS
(([email protected];))
Interglobe Enterprises May Sell Approx 4% Stake In Indigo Via Block Deals - CNBC-TV18 Citing Sources
June 13 (Reuters) - Interglobe Aviation Ltd INGL.NS:
INTERGLOBE ENTERPRISES MAY SELL APPROX 4% STAKE IN INDIGO VIA BLOCK DEALS - CNBC-TV18 CITING SOURCES
INTERGLOBE ENTERPRISES LOOKING TO RAISE ABOUT $1 BILLION VIA SHARE SALE IN INDIGO - CNBC-TV18 CITING SOURCES
Source text: [ID:]
Further company coverage: INGL.NS
(([email protected];))
June 13 (Reuters) - Interglobe Aviation Ltd INGL.NS:
INTERGLOBE ENTERPRISES MAY SELL APPROX 4% STAKE IN INDIGO VIA BLOCK DEALS - CNBC-TV18 CITING SOURCES
INTERGLOBE ENTERPRISES LOOKING TO RAISE ABOUT $1 BILLION VIA SHARE SALE IN INDIGO - CNBC-TV18 CITING SOURCES
Source text: [ID:]
Further company coverage: INGL.NS
(([email protected];))
Expanding missile threats and airspace closures are straining airlines
Conflict zones reducing available flight paths
Diversions, cancellations are a growing cost burden for airlines
Civil aviation spending more on security planning, data
By Lisa Barrington, Shivansh Tiwary and Joanna Plucinska
NEW DELHI, June 4 (Reuters) - Proliferating conflict zones are an increasing burden on airline operations and profitability, executives say, as carriers grapple with missiles and drones, airspace closures, location spoofing and the shoot-down of another passenger flight.
Airlines are racking up costs and losing market share from cancelled flights and expensive re-routings, often at short notice. The aviation industry, which prides itself on its safety performance, is investing more in data and security planning.
"Flight planning in this kind of environment is extremely difficult … The airline industry thrives on predictability, and the absence of this will always drive greater cost," said Guy Murray, who leads aviation security at European carrier TUI Airline TUI1n.DE.
With increasing airspace closures around Russia and Ukraine, throughout the Middle East, between India and Pakistan and in parts of Africa, airlines are left with fewer route options.
"Compared to five years ago, more than half of the countries being overflown on a typical Europe-Asia flight would now need to be carefully reviewed before each flight," said Mark Zee, founder of OPSGROUP, a membership-based organisation that shares flight risk information.
The Israeli-Palestinian conflict in the Middle East since October 2023 led to commercial aviation sharing the skies with short-notice barrages of drones and missiles across major flight paths – some of which were reportedly close enough to be seen by pilots and passengers.
Russian airports, including in Moscow, are now regularly shut down for brief periods due to drone activity, while interference with navigation systems, known as GPS spoofing or jamming, is surging around political fault lines worldwide.
When hostilities broke out between India and Pakistan last month, the neighbours blocked each other's aircraft from their respective airspace.
"Airspace should not be used as a retaliatory tool, but it is," Nick Careen, International Air Transport Association (IATA) senior vice president for operations, safety and security, told reporters at the airline body's annual meeting in New Delhi on Tuesday.
Isidre Porqueras, chief operating officer at Indian carrier IndiGo INGL.NS, said the recent diversions were undoing efforts to reduce emissions and increase airline efficiencies.
WORST-CASE SCENARIO
Finances aside, civil aviation's worst-case scenario is a plane being hit, accidentally or intentionally, by weaponry.
In December, an Azerbaijan Airlines flight crashed in Kazakhstan, killing 38 people. The plane was accidentally shot down by Russian air defences, according to Azerbaijan's president and Reuters sources.
In October, a cargo plane was shot down in Sudan, killing five people.
Six commercial aircraft have been shot down, with three near-misses since 2001, according to aviation risk consultancy Osprey Flight Solutions.
Governments need to share information more effectively to keep civil aviation secure as conflict zones proliferate, IATA Director General Willie Walsh said this week.
Safety statistics used by the commercial aviation industry show a steady decline in accidents over the past two decades, but these do not include security-related incidents such as being hit by weaponry.
IATA said in February that accidents and incidents related to conflict zones were a top concern for aviation safety requiring urgent global coordination.
TOUGH CHOICES
Each airline decides where to travel based on a patchwork of government notices, security advisers, and information-sharing between carriers and states, leading to divergent policies.
The closure of Russian airspace to most Western carriers since the outbreak of war in Ukraine in 2022 put them at a cost disadvantage compared to airlines from places like China, India and the Middle East that continue to take shorter northern routes that need less fuel and fewer crew.
Shifting risk calculations mean Singapore Airlines' SIAL.SI flight SQ326 from Singapore to Amsterdam has used three different routes into Europe in just over a year, Flightradar24 tracking data shows.
When reciprocal missile and drone attacks broke out between Iran and Israel in April 2024, it started crossing previously avoided Afghanistan instead of Iran.
Last month, its route shifted again to avoid Pakistan's airspace as conflict escalated between India and Pakistan. Flight SQ326 now reaches Europe via the Persian Gulf and Iraq. Singapore Airlines did not respond immediately to a request for comment.
Pilots and flight attendants are also worried about how the patchwork of shifting risk might impact their safety.
"IATA says airlines should decide if it's safe to fly over conflict zones, not regulators. But history shows commercial pressures can cloud those decisions," said Paul Reuter, vice president of the European Cockpit Association, which represents pilots.
Flight crew typically have the right to refuse a trip due to concerns about airspace, whether over weather or conflict zones, IATA security head Careen said.
"Most airlines, in fact, I would say the vast majority of them, do not want crew on an aircraft if they don't feel comfortable flying," he said.
Long flight detours: Longer flights between India and Central Asia https://reut.rs/3SpwjZS
Long flight detours: Long detours around Russia https://reut.rs/4jm7ycd
(Reporting by Lisa Barrington in Seoul, Shivansh Tiwary in New Delhi, Joanna Plucinska in London; Additional reporting by Abhijith Ganapavaram in New Delhi; Editing by Jamie Freed)
(([email protected];))
Conflict zones reducing available flight paths
Diversions, cancellations are a growing cost burden for airlines
Civil aviation spending more on security planning, data
By Lisa Barrington, Shivansh Tiwary and Joanna Plucinska
NEW DELHI, June 4 (Reuters) - Proliferating conflict zones are an increasing burden on airline operations and profitability, executives say, as carriers grapple with missiles and drones, airspace closures, location spoofing and the shoot-down of another passenger flight.
Airlines are racking up costs and losing market share from cancelled flights and expensive re-routings, often at short notice. The aviation industry, which prides itself on its safety performance, is investing more in data and security planning.
"Flight planning in this kind of environment is extremely difficult … The airline industry thrives on predictability, and the absence of this will always drive greater cost," said Guy Murray, who leads aviation security at European carrier TUI Airline TUI1n.DE.
With increasing airspace closures around Russia and Ukraine, throughout the Middle East, between India and Pakistan and in parts of Africa, airlines are left with fewer route options.
"Compared to five years ago, more than half of the countries being overflown on a typical Europe-Asia flight would now need to be carefully reviewed before each flight," said Mark Zee, founder of OPSGROUP, a membership-based organisation that shares flight risk information.
The Israeli-Palestinian conflict in the Middle East since October 2023 led to commercial aviation sharing the skies with short-notice barrages of drones and missiles across major flight paths – some of which were reportedly close enough to be seen by pilots and passengers.
Russian airports, including in Moscow, are now regularly shut down for brief periods due to drone activity, while interference with navigation systems, known as GPS spoofing or jamming, is surging around political fault lines worldwide.
When hostilities broke out between India and Pakistan last month, the neighbours blocked each other's aircraft from their respective airspace.
"Airspace should not be used as a retaliatory tool, but it is," Nick Careen, International Air Transport Association (IATA) senior vice president for operations, safety and security, told reporters at the airline body's annual meeting in New Delhi on Tuesday.
Isidre Porqueras, chief operating officer at Indian carrier IndiGo INGL.NS, said the recent diversions were undoing efforts to reduce emissions and increase airline efficiencies.
WORST-CASE SCENARIO
Finances aside, civil aviation's worst-case scenario is a plane being hit, accidentally or intentionally, by weaponry.
In December, an Azerbaijan Airlines flight crashed in Kazakhstan, killing 38 people. The plane was accidentally shot down by Russian air defences, according to Azerbaijan's president and Reuters sources.
In October, a cargo plane was shot down in Sudan, killing five people.
Six commercial aircraft have been shot down, with three near-misses since 2001, according to aviation risk consultancy Osprey Flight Solutions.
Governments need to share information more effectively to keep civil aviation secure as conflict zones proliferate, IATA Director General Willie Walsh said this week.
Safety statistics used by the commercial aviation industry show a steady decline in accidents over the past two decades, but these do not include security-related incidents such as being hit by weaponry.
IATA said in February that accidents and incidents related to conflict zones were a top concern for aviation safety requiring urgent global coordination.
TOUGH CHOICES
Each airline decides where to travel based on a patchwork of government notices, security advisers, and information-sharing between carriers and states, leading to divergent policies.
The closure of Russian airspace to most Western carriers since the outbreak of war in Ukraine in 2022 put them at a cost disadvantage compared to airlines from places like China, India and the Middle East that continue to take shorter northern routes that need less fuel and fewer crew.
Shifting risk calculations mean Singapore Airlines' SIAL.SI flight SQ326 from Singapore to Amsterdam has used three different routes into Europe in just over a year, Flightradar24 tracking data shows.
When reciprocal missile and drone attacks broke out between Iran and Israel in April 2024, it started crossing previously avoided Afghanistan instead of Iran.
Last month, its route shifted again to avoid Pakistan's airspace as conflict escalated between India and Pakistan. Flight SQ326 now reaches Europe via the Persian Gulf and Iraq. Singapore Airlines did not respond immediately to a request for comment.
Pilots and flight attendants are also worried about how the patchwork of shifting risk might impact their safety.
"IATA says airlines should decide if it's safe to fly over conflict zones, not regulators. But history shows commercial pressures can cloud those decisions," said Paul Reuter, vice president of the European Cockpit Association, which represents pilots.
Flight crew typically have the right to refuse a trip due to concerns about airspace, whether over weather or conflict zones, IATA security head Careen said.
"Most airlines, in fact, I would say the vast majority of them, do not want crew on an aircraft if they don't feel comfortable flying," he said.
Long flight detours: Longer flights between India and Central Asia https://reut.rs/3SpwjZS
Long flight detours: Long detours around Russia https://reut.rs/4jm7ycd
(Reporting by Lisa Barrington in Seoul, Shivansh Tiwary in New Delhi, Joanna Plucinska in London; Additional reporting by Abhijith Ganapavaram in New Delhi; Editing by Jamie Freed)
(([email protected];))
India PM Modi Says Indian Carriers Have Placed Orders For More Than 2000 New Jets
June 2 (Reuters) - Air India Ltd [RIC:RIC:AIRID.UL]:
INDIA PM MODI: INDIAN CARRIERS HAVE PLACED ORDERS FOR MORE THAN 2000 NEW JETS AND THAT'S JUST A START
Source text: [ID:]
Further company coverage: AIRID.UL
(([email protected];))
June 2 (Reuters) - Air India Ltd [RIC:RIC:AIRID.UL]:
INDIA PM MODI: INDIAN CARRIERS HAVE PLACED ORDERS FOR MORE THAN 2000 NEW JETS AND THAT'S JUST A START
Source text: [ID:]
Further company coverage: AIRID.UL
(([email protected];))
IndiGo expands network with Air France-KLM, Virgin Atlantic, Delta deal
NEW DELHI, June 1 (Reuters) - India's largest airline IndiGo INGL.NS on Sunday announced an agreement with Air France-KLM AIRF.PA, Virgin Atlantic and Delta DAL.N to expand its long-haul services to North America, Europe and Britain, the airlines said on Sunday.
Indigo has an extensive domestic network in India and is expanding its international reach.
Once the partnership is complete IndiGo will be able to sell flights under its own name on those operated by its partners out of India, and onward travel from Amsterdam and Manchester on select flights to Europe and North America.
IndiGo has an existing relationship with Air France-KLM and Virgin Atlantic, and its Delta partnership is new.
U.S. carrier Delta has not flown to India since the pandemic. CEO Ed Bastian told media at an airline summit in New Delhi that Delta will restart direct services from the United States to India over the next couple of years.
Delta is planning nonstop flights between Atlanta and Delhi, subject to government approval, a joint statement said.
India is the world's third-largest air passenger market, and is rapidly expanding its aviation industry.
(Reporting by Abhijith G; Writing by Lisa Barrington; Editing by Kirsten Donovan)
(([email protected];))
NEW DELHI, June 1 (Reuters) - India's largest airline IndiGo INGL.NS on Sunday announced an agreement with Air France-KLM AIRF.PA, Virgin Atlantic and Delta DAL.N to expand its long-haul services to North America, Europe and Britain, the airlines said on Sunday.
Indigo has an extensive domestic network in India and is expanding its international reach.
Once the partnership is complete IndiGo will be able to sell flights under its own name on those operated by its partners out of India, and onward travel from Amsterdam and Manchester on select flights to Europe and North America.
IndiGo has an existing relationship with Air France-KLM and Virgin Atlantic, and its Delta partnership is new.
U.S. carrier Delta has not flown to India since the pandemic. CEO Ed Bastian told media at an airline summit in New Delhi that Delta will restart direct services from the United States to India over the next couple of years.
Delta is planning nonstop flights between Atlanta and Delhi, subject to government approval, a joint statement said.
India is the world's third-largest air passenger market, and is rapidly expanding its aviation industry.
(Reporting by Abhijith G; Writing by Lisa Barrington; Editing by Kirsten Donovan)
(([email protected];))
Global airlines to address trade war, net-zero uncertainties at annual summit
Airlines body IATA holding CEO meeting in New Delhi from Sunday to Tuesday
Passenger numbers at record levels, but airlines face fare and cost pressures, delivery delays
Environmental targets under pressure amid SAF shortages
Adds comments from AerCap CEO, paragraphs 5-8
By Lisa Barrington and Abhijith Ganapavaram
NEW DELHI, May 30 (Reuters) - An unpredictable trade war and daunting environmental targets are on the agenda for global airline bosses at an annual summit in India, as the industry addresses concerns that geopolitical uncertainty will dent strong travel demand and raise costs.
More people are flying than ever before after a full post-pandemic passenger market recovery, but airlines globally are facing rising cost pressures, extended plane delivery delays, supply chain bottlenecks and a setback in recently strong fares.
On top of this, U.S. President Donald Trump's evolving trade war has upended the aerospace industry's decades-old tariff-free status and added a new layer of volatility, analysts say.
While carriers in Europe and Asia report strong demand for flying, the U.S. sector has been hit by a recent slump in travel demand, with carriers struggling to forecast passenger behaviour and operational costs.
"You can't say that a fall-off in consumer confidence and higher inflation are not going to mean less money in the wallet for people to spend," Aengus Kelly, CEO of AerCap AER.N, the world's largest aircraft leasing company, told Reuters.
For now, airlines are filling planes but there are questions over the widely watched yield - or average fare per seat sold - they are able to charge as they tweak fares to fill cabins.
Many, however, are also being cushioned from the worst effects of demand by a fall in fuel prices and a decline in the U.S. dollar's value.
"Those tailwinds have insulated airlines, to date, from the worst effects" of demand, Kelly said.
The influential International Air Transport Association (IATA), which represents more than 300 airlines and over 80% of global air traffic, will hold its annual three-day meeting from Sunday in New Delhi.
The summit, hosted by India's largest carrier IndiGo INGL.NS, comes as the world's third-largest air passenger market rapidly expands its aviation industry, and as air travel growth in Asia is expected to outstrip Europe and North America for the next few decades.
India's recent hostilities with neighbour Pakistan, which is causing Indian airlines to take large, expensive detours around Pakistani airspace, highlight how conflict zones are an increasing burden on airline operations and profitability.
IATA said in February that accidents and incidents related to conflict zones are a top concern for aviation safety requiring urgent global coordination.
Aviation safety will also be in focus after a spate of air accidents in Kazakhstan, South Korea and North America over the past six months, and rising concerns about air traffic control systems in the United States.
NET-ZERO DOUBTS
IATA has increasingly been warning that airlines will struggle to meet their sustainability goals, and that it is not clear how the transition to sustainable aviation fuel (SAF) and new technologies will be financed.
The broader aviation sector agreed in 2021 to target net-zero emissions in 2050 based mainly on a gradual switch to SAF, which is made from waste oil and biomass and costs more than conventional jet fuel.
IATA Director General Willie Walsh has in recent weeks said the industry will need to re-evaluate the commitment, though no change to industry goals is expected at the New Delhi event.
Airlines are at odds with energy companies over scarce supplies of SAF, while also pointing the finger at Airbus AIR.PA and Boeing BA.N over delays in delivering more fuel-efficient jets.
Governments are also likely to get some flak when Walsh delivers an often punchy address to airline bosses on Monday.
"Demand for SAF continues to outstrip supply and costs remain prohibitively high. Regulatory frameworks to encourage SAF production are still underdeveloped, inconsistent, or insufficient," said Subhas Menon, director general of the Association of Asia Pacific Airlines.
(Reporting by Lisa Barrington in Seoul, Tim Hepher in Paris and Abhijith Ganapavaram in New Delhi; Editing by Jamie Freed)
(([email protected];))
Airlines body IATA holding CEO meeting in New Delhi from Sunday to Tuesday
Passenger numbers at record levels, but airlines face fare and cost pressures, delivery delays
Environmental targets under pressure amid SAF shortages
Adds comments from AerCap CEO, paragraphs 5-8
By Lisa Barrington and Abhijith Ganapavaram
NEW DELHI, May 30 (Reuters) - An unpredictable trade war and daunting environmental targets are on the agenda for global airline bosses at an annual summit in India, as the industry addresses concerns that geopolitical uncertainty will dent strong travel demand and raise costs.
More people are flying than ever before after a full post-pandemic passenger market recovery, but airlines globally are facing rising cost pressures, extended plane delivery delays, supply chain bottlenecks and a setback in recently strong fares.
On top of this, U.S. President Donald Trump's evolving trade war has upended the aerospace industry's decades-old tariff-free status and added a new layer of volatility, analysts say.
While carriers in Europe and Asia report strong demand for flying, the U.S. sector has been hit by a recent slump in travel demand, with carriers struggling to forecast passenger behaviour and operational costs.
"You can't say that a fall-off in consumer confidence and higher inflation are not going to mean less money in the wallet for people to spend," Aengus Kelly, CEO of AerCap AER.N, the world's largest aircraft leasing company, told Reuters.
For now, airlines are filling planes but there are questions over the widely watched yield - or average fare per seat sold - they are able to charge as they tweak fares to fill cabins.
Many, however, are also being cushioned from the worst effects of demand by a fall in fuel prices and a decline in the U.S. dollar's value.
"Those tailwinds have insulated airlines, to date, from the worst effects" of demand, Kelly said.
The influential International Air Transport Association (IATA), which represents more than 300 airlines and over 80% of global air traffic, will hold its annual three-day meeting from Sunday in New Delhi.
The summit, hosted by India's largest carrier IndiGo INGL.NS, comes as the world's third-largest air passenger market rapidly expands its aviation industry, and as air travel growth in Asia is expected to outstrip Europe and North America for the next few decades.
India's recent hostilities with neighbour Pakistan, which is causing Indian airlines to take large, expensive detours around Pakistani airspace, highlight how conflict zones are an increasing burden on airline operations and profitability.
IATA said in February that accidents and incidents related to conflict zones are a top concern for aviation safety requiring urgent global coordination.
Aviation safety will also be in focus after a spate of air accidents in Kazakhstan, South Korea and North America over the past six months, and rising concerns about air traffic control systems in the United States.
NET-ZERO DOUBTS
IATA has increasingly been warning that airlines will struggle to meet their sustainability goals, and that it is not clear how the transition to sustainable aviation fuel (SAF) and new technologies will be financed.
The broader aviation sector agreed in 2021 to target net-zero emissions in 2050 based mainly on a gradual switch to SAF, which is made from waste oil and biomass and costs more than conventional jet fuel.
IATA Director General Willie Walsh has in recent weeks said the industry will need to re-evaluate the commitment, though no change to industry goals is expected at the New Delhi event.
Airlines are at odds with energy companies over scarce supplies of SAF, while also pointing the finger at Airbus AIR.PA and Boeing BA.N over delays in delivering more fuel-efficient jets.
Governments are also likely to get some flak when Walsh delivers an often punchy address to airline bosses on Monday.
"Demand for SAF continues to outstrip supply and costs remain prohibitively high. Regulatory frameworks to encourage SAF production are still underdeveloped, inconsistent, or insufficient," said Subhas Menon, director general of the Association of Asia Pacific Airlines.
(Reporting by Lisa Barrington in Seoul, Tim Hepher in Paris and Abhijith Ganapavaram in New Delhi; Editing by Jamie Freed)
(([email protected];))
IndiGo co-founder sells $1.36 billion of airline's shares, term sheet shows
Updates to show deal completed and add share sale price
By Scott Murdoch
SYDNEY, May 27 (Reuters) - The co-founder of Indian airline IndiGo INGL.NS, Rakesh Gangwal, sold a 5.7% stake in the low-cost carrier through a block deal worth about $1.36 billion, a term sheet showed on Tuesday.
The shares were sold at 5,230.5 rupees ($61.35) each, the term sheet seen by Reuters showed, representing a discount of 3.5% to the company's closing price on Monday.
IndiGo did not immediately respond to a request for comment.
Around 22.1 million shares were sold, the term sheet showed. The number of shares was increased from the original size of up to 13.2 million shares worth about $803 million.
Gangwal held about 13.5% of IndiGo shares, according to the term sheet.
Goldman Sachs, Morgan Stanley and JPMorgan led the share sale, the term sheet showed.
($1 = 85.2520 Indian rupees)
(Reporting by Scott Murdoch; Additional reporting by Kashish Tandon; Editing by Clarence Fernandez and Muralikumar Anantharaman)
(([email protected];))
Updates to show deal completed and add share sale price
By Scott Murdoch
SYDNEY, May 27 (Reuters) - The co-founder of Indian airline IndiGo INGL.NS, Rakesh Gangwal, sold a 5.7% stake in the low-cost carrier through a block deal worth about $1.36 billion, a term sheet showed on Tuesday.
The shares were sold at 5,230.5 rupees ($61.35) each, the term sheet seen by Reuters showed, representing a discount of 3.5% to the company's closing price on Monday.
IndiGo did not immediately respond to a request for comment.
Around 22.1 million shares were sold, the term sheet showed. The number of shares was increased from the original size of up to 13.2 million shares worth about $803 million.
Gangwal held about 13.5% of IndiGo shares, according to the term sheet.
Goldman Sachs, Morgan Stanley and JPMorgan led the share sale, the term sheet showed.
($1 = 85.2520 Indian rupees)
(Reporting by Scott Murdoch; Additional reporting by Kashish Tandon; Editing by Clarence Fernandez and Muralikumar Anantharaman)
(([email protected];))
India to discuss with security agencies IndiGo's Turkish Airlines partnership
By Abhijith Ganapavaram
NEW DELHI, May 23 (Reuters) - India will discuss with security agencies IndiGo's codeshare and leasing pacts with Turkish Airlines and decide on further action, its civil aviation minister said on Friday.
The move follows growing public anger in India against Turkey's support for Pakistan during a recent conflict sparked by an attack on tourists by Islamist assailants in Indian Kashmir.
"We are taking input from IndiGo on that and also with the necessary security agencies, and we'd like to see how to proceed with that," Minister Rammohan Naidu told reporters on the sidelines of an event in New Delhi.
IndiGo and Turkish Airlines did not immediately respond to requests for comment.
IndiGo has previously defended the partnership, saying that it offers multiple benefits to Indian travellers, boosts aviation growth and jobs, and has enabled IndiGo to build its presence in long-haul markets in Europe and the U.S.
IndiGo began a codeshare partnership with Turkish Airlines in 2018, allowing it to offer many international destinations to its customers.
Since 2023, India's dominant domestic airline has also had a leasing arrangement with state-backed Turkish Airlines, which has provided two planes with pilots and some crew to IndiGo to operate on New Delhi- and Mumbai-to-Istanbul routes.
The two agreements have faced growing calls to be scrapped.
Rival Air India has lobbied Indian officials to halt IndiGo's leasing tie-up with Turkish Airlines, citing business impact as well as security concerns sparked by Istanbul's support for Pakistan, Reuters reported last week.
The Indian government earlier this month revoked security clearance of the Turkish ground handling service firm Celebi, citing national security, resulting in a lawsuit from the Indian arm of the Turkish firm.
Small Indian grocery shops and major online fashion retailers are boycotting Turkish products, including chocolates, coffee, jams, cosmetics and clothing.
The boycott came after Turkish President Tayyip Erdogan expressed public solidarity with Pakistan after India conducted military strikes in response to the killing of tourists.
(Reporting by Abhijith Ganapavaram in New Delhi; Additional reporting by Nandan Mandayam in Bengaluru; Editing by Lisa Shumaker)
((Email: [email protected]; Mobile: +91-9019785574;))
By Abhijith Ganapavaram
NEW DELHI, May 23 (Reuters) - India will discuss with security agencies IndiGo's codeshare and leasing pacts with Turkish Airlines and decide on further action, its civil aviation minister said on Friday.
The move follows growing public anger in India against Turkey's support for Pakistan during a recent conflict sparked by an attack on tourists by Islamist assailants in Indian Kashmir.
"We are taking input from IndiGo on that and also with the necessary security agencies, and we'd like to see how to proceed with that," Minister Rammohan Naidu told reporters on the sidelines of an event in New Delhi.
IndiGo and Turkish Airlines did not immediately respond to requests for comment.
IndiGo has previously defended the partnership, saying that it offers multiple benefits to Indian travellers, boosts aviation growth and jobs, and has enabled IndiGo to build its presence in long-haul markets in Europe and the U.S.
IndiGo began a codeshare partnership with Turkish Airlines in 2018, allowing it to offer many international destinations to its customers.
Since 2023, India's dominant domestic airline has also had a leasing arrangement with state-backed Turkish Airlines, which has provided two planes with pilots and some crew to IndiGo to operate on New Delhi- and Mumbai-to-Istanbul routes.
The two agreements have faced growing calls to be scrapped.
Rival Air India has lobbied Indian officials to halt IndiGo's leasing tie-up with Turkish Airlines, citing business impact as well as security concerns sparked by Istanbul's support for Pakistan, Reuters reported last week.
The Indian government earlier this month revoked security clearance of the Turkish ground handling service firm Celebi, citing national security, resulting in a lawsuit from the Indian arm of the Turkish firm.
Small Indian grocery shops and major online fashion retailers are boycotting Turkish products, including chocolates, coffee, jams, cosmetics and clothing.
The boycott came after Turkish President Tayyip Erdogan expressed public solidarity with Pakistan after India conducted military strikes in response to the killing of tourists.
(Reporting by Abhijith Ganapavaram in New Delhi; Additional reporting by Nandan Mandayam in Bengaluru; Editing by Lisa Shumaker)
((Email: [email protected]; Mobile: +91-9019785574;))
Street View: Crude prices among key monitorables for India's IndiGo
** Interglobe Aviation INGL.NS flat, paring initial losses
** Indigo airlines-operator hinted at potential Q1 revenue hit as demand for some routes plummeted during the most intense India-Pakistan conflict in decades, following its first quarterly profit rise in four
** Of 20 analysts covering INGL, at least eight hiked TPs, seven upgraded stock post-results, per data compiled by LSEG
INDIA-PAKISTAN CONFLICT "ONE-TIME BLIP"
** Jefferies ("buy", raises PT to 6300 rupees): The conflict weighing on Q1 demand will be "one-off blip"; sees soft crude prices overshadowing demand hit
** Motilal Oswal ("buy", PT 6,375 rupees): Sharp volatility in crude or rupee "key downside risk", could pressurize margins if not passed on
** Investec ("sell"; TP 4050 rupees): Stock pricing in strong future growth, upside is limited; advise profit booking at current levels
(Reporting by Hritam Mukherjee in Bengaluru)
(([email protected];))
** Interglobe Aviation INGL.NS flat, paring initial losses
** Indigo airlines-operator hinted at potential Q1 revenue hit as demand for some routes plummeted during the most intense India-Pakistan conflict in decades, following its first quarterly profit rise in four
** Of 20 analysts covering INGL, at least eight hiked TPs, seven upgraded stock post-results, per data compiled by LSEG
INDIA-PAKISTAN CONFLICT "ONE-TIME BLIP"
** Jefferies ("buy", raises PT to 6300 rupees): The conflict weighing on Q1 demand will be "one-off blip"; sees soft crude prices overshadowing demand hit
** Motilal Oswal ("buy", PT 6,375 rupees): Sharp volatility in crude or rupee "key downside risk", could pressurize margins if not passed on
** Investec ("sell"; TP 4050 rupees): Stock pricing in strong future growth, upside is limited; advise profit booking at current levels
(Reporting by Hritam Mukherjee in Bengaluru)
(([email protected];))
Indigo Q4 Profit 30.73 Billion Rupees
May 21 (Reuters) - Interglobe Aviation Ltd INGL.NS:
INDIGO Q4 PROFIT 30.73 BILLION RUPEES
INDIGO Q4 REVENUE FROM OPERATIONS 221.52 BILLION RUPEES
INDIGO - DIVIDEND 10 RUPEES PER SHARE
Further company coverage: INGL.NS
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May 21 (Reuters) - Interglobe Aviation Ltd INGL.NS:
INDIGO Q4 PROFIT 30.73 BILLION RUPEES
INDIGO Q4 REVENUE FROM OPERATIONS 221.52 BILLION RUPEES
INDIGO - DIVIDEND 10 RUPEES PER SHARE
Further company coverage: INGL.NS
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EXCLUSIVE-Air India sees Pakistan airspace ban costing it $600 million over 12 months, seeks aid
Repeats Thursday's story with no changes to text
India, Pakistan tensions taking toll on aviation sector
Pakistan airspace ban hits Indian carriers with longer routes
Air India pushes government to support the carrier, letter shows
Tata-owned Indian airline already faces losses
By Aditya Kalra, Abhijith Ganapavaram
NEW DELHI, May 1 (Reuters) - Air India expects to face around $600 million in additional costs if a ban from Pakistan's airspace lasts for a year, and has asked the federal government to compensate it for the hit, a company letter seen by Reuters shows.
Indian airlines are bracing for higher fuel costs and longer journey times after Pakistan shut its airspace to the country's carriers in a tit-for-tat retaliation following an attack on tourists in Kashmir last week.
Air India on April 27 asked the Indian government for a "subsidy model" proportionate to the economic hit, estimating a loss of more than 50 billion Indian rupees ($591 million) for each year the ban lasts, according to a letter sent by the airline to the Civil Aviation Ministry seen by Reuters.
"Subsidy for affected international flights is a good, verifiable and fair option ... the subsidy can be removed when the situation improves," the letter said.
"The impact on Air India is maximum due to airspace closure, due to additional fuel burn...additional crew."
Air India declined to comment. India's Civil Aviation Ministry did not immediately respond to a request for comment.
Air India's letter was sent after the government asked its executives to assess the impact of the airspace ban on Indian carriers, said a source with direct knowledge of the matter.
The Tata Group-owned airline is in the midst of a multi-billion dollar turnaround after a period of government ownership, and growth is already constrained by jet delivery delays from Boeing and Airbus. It reported a net loss of $520 million in fiscal 2023-2024, on sales of $4.6 billion.
Air India, which has a 26.5% market share in India, flies to Europe, the United States and Canada, often crossing Pakistan's airspace. It operates many more long-haul routes than bigger domestic rival IndiGo.
Data from Cirium Ascend shows IndiGo, Air India and its budget unit Air India Express had roughly 1,200 flights combined from New Delhi scheduled for Europe, the Middle East and North America in April.
The Indian government is considering options to reduce the hit to the airline industry from the closure of Pakistan's airspace, three other people familiar with the matter said.
One of the sources said Indian carriers met with the Civil Aviation Ministry to work on possible solutions, including flying over difficult terrain closer to China, and some tax exemptions.
In its letter, Air India asked the government to liaise with Chinese authorities for certain overflight clearances, without elaborating.
It also asked the government to approve the carrying of extra pilots on flights on the United States and Canada to account for longer travel times.
(Reporting by Aditya Kalra and Abhijith Ganapavaram; Editing by Kirsten Donovan)
((Email: [email protected]; Mobile: +91-9019785574;))
Repeats Thursday's story with no changes to text
India, Pakistan tensions taking toll on aviation sector
Pakistan airspace ban hits Indian carriers with longer routes
Air India pushes government to support the carrier, letter shows
Tata-owned Indian airline already faces losses
By Aditya Kalra, Abhijith Ganapavaram
NEW DELHI, May 1 (Reuters) - Air India expects to face around $600 million in additional costs if a ban from Pakistan's airspace lasts for a year, and has asked the federal government to compensate it for the hit, a company letter seen by Reuters shows.
Indian airlines are bracing for higher fuel costs and longer journey times after Pakistan shut its airspace to the country's carriers in a tit-for-tat retaliation following an attack on tourists in Kashmir last week.
Air India on April 27 asked the Indian government for a "subsidy model" proportionate to the economic hit, estimating a loss of more than 50 billion Indian rupees ($591 million) for each year the ban lasts, according to a letter sent by the airline to the Civil Aviation Ministry seen by Reuters.
"Subsidy for affected international flights is a good, verifiable and fair option ... the subsidy can be removed when the situation improves," the letter said.
"The impact on Air India is maximum due to airspace closure, due to additional fuel burn...additional crew."
Air India declined to comment. India's Civil Aviation Ministry did not immediately respond to a request for comment.
Air India's letter was sent after the government asked its executives to assess the impact of the airspace ban on Indian carriers, said a source with direct knowledge of the matter.
The Tata Group-owned airline is in the midst of a multi-billion dollar turnaround after a period of government ownership, and growth is already constrained by jet delivery delays from Boeing and Airbus. It reported a net loss of $520 million in fiscal 2023-2024, on sales of $4.6 billion.
Air India, which has a 26.5% market share in India, flies to Europe, the United States and Canada, often crossing Pakistan's airspace. It operates many more long-haul routes than bigger domestic rival IndiGo.
Data from Cirium Ascend shows IndiGo, Air India and its budget unit Air India Express had roughly 1,200 flights combined from New Delhi scheduled for Europe, the Middle East and North America in April.
The Indian government is considering options to reduce the hit to the airline industry from the closure of Pakistan's airspace, three other people familiar with the matter said.
One of the sources said Indian carriers met with the Civil Aviation Ministry to work on possible solutions, including flying over difficult terrain closer to China, and some tax exemptions.
In its letter, Air India asked the government to liaise with Chinese authorities for certain overflight clearances, without elaborating.
It also asked the government to approve the carrying of extra pilots on flights on the United States and Canada to account for longer travel times.
(Reporting by Aditya Kalra and Abhijith Ganapavaram; Editing by Kirsten Donovan)
((Email: [email protected]; Mobile: +91-9019785574;))
Indigo Says Due Pakistan Airspace Closure, Around 50 International Routes Operated By Co Will Require Longer Sectors
April 25 (Reuters) - Interglobe Aviation Ltd INGL.NS:
DUE PAKISTAN AIRSPACE CLOSURE, AROUND 50 INTERNATIONAL ROUTES OPERATED BY INDIGO WILL REQUIRE LONGER SECTORS
INDIGO - ALMATY AND TASHKENT ARE OUTSIDE THE OPERATIONAL RANGE OF INDIGO’S CURRENT FLEET
INDIGO - FLIGHTS TO ALMATY STAND CANCELLED FROM 27TH OF APRIL UNTIL AT LEAST 7TH OF MAY
Source text: [ID:]
Further company coverage: INGL.NS
(([email protected];))
April 25 (Reuters) - Interglobe Aviation Ltd INGL.NS:
DUE PAKISTAN AIRSPACE CLOSURE, AROUND 50 INTERNATIONAL ROUTES OPERATED BY INDIGO WILL REQUIRE LONGER SECTORS
INDIGO - ALMATY AND TASHKENT ARE OUTSIDE THE OPERATIONAL RANGE OF INDIGO’S CURRENT FLEET
INDIGO - FLIGHTS TO ALMATY STAND CANCELLED FROM 27TH OF APRIL UNTIL AT LEAST 7TH OF MAY
Source text: [ID:]
Further company coverage: INGL.NS
(([email protected];))
Indigo Says Due To Sudden Air Space Closure By Pakistan, Few International Flights Are Impacted
April 24 (Reuters) - Interglobe Aviation Ltd INGL.NS:
INDIGO - DUE TO SUDDEN ANNOUNCEMENT OF AIR SPACE CLOSURE BY PAKISTAN, FEW OF OUR INTERNATIONAL FLIGHTS ARE IMPACTED
INDIGO- IF FLIGHT IS IMPACTED, EXPLORE FLEXIBLE REBOOKING OPTIONS, OR CLAIM REFUND
Source text: [ID:]
Further company coverage: INGL.NS
(([email protected];;))
April 24 (Reuters) - Interglobe Aviation Ltd INGL.NS:
INDIGO - DUE TO SUDDEN ANNOUNCEMENT OF AIR SPACE CLOSURE BY PAKISTAN, FEW OF OUR INTERNATIONAL FLIGHTS ARE IMPACTED
INDIGO- IF FLIGHT IS IMPACTED, EXPLORE FLEXIBLE REBOOKING OPTIONS, OR CLAIM REFUND
Source text: [ID:]
Further company coverage: INGL.NS
(([email protected];;))
Indigo Adds Special Flights To Srinagar From Delhi And Mumbai With Immediate Effect After Pahalgam Incident
April 23 (Reuters) - Interglobe Aviation Ltd INGL.NS:
INDIGO - HAS ADDED SPECIAL FLIGHTS TO SRINAGAR FROM DELHI AND MUMBAI WITH IMMEDIATE EFFECT AFTER PAHALGAM INCIDENT
INDIGO - IN VIEW OF EMERGENT SITUATION, HAVE TAKEN STEPS TO KEEP FARES MODERATED
INDIGO - TO SUPPORT THOSE TRAVELING TO/FROM SRINAGAR, INDIGO IS OFFERING WAIVERS FOR CANCELLATION FEES OR RESCHEDULING CHARGES
Source text: [ID:]
Further company coverage: INGL.NS
(([email protected];;))
April 23 (Reuters) - Interglobe Aviation Ltd INGL.NS:
INDIGO - HAS ADDED SPECIAL FLIGHTS TO SRINAGAR FROM DELHI AND MUMBAI WITH IMMEDIATE EFFECT AFTER PAHALGAM INCIDENT
INDIGO - IN VIEW OF EMERGENT SITUATION, HAVE TAKEN STEPS TO KEEP FARES MODERATED
INDIGO - TO SUPPORT THOSE TRAVELING TO/FROM SRINAGAR, INDIGO IS OFFERING WAIVERS FOR CANCELLATION FEES OR RESCHEDULING CHARGES
Source text: [ID:]
Further company coverage: INGL.NS
(([email protected];;))
Delhi airport operator pauses runway upgrade after flight delays invite criticism
Hundreds of flights were delayed on Sunday
DIAL cites adverse wind patterns for delays
Passengers express frustration over lengthy flight delays on social media
By Abhijith Ganapavaram
NEW DELHI, April 21 (Reuters) - The operator of Delhi International Airport, one of the world's busiest airports, has paused works to upgrade one of its runways after passengers criticised lengthy flight delays, throwing the spotlight on increasing air traffic congestion in major cities in India.
Data from Flightradar24 showed about 400 arrivals and 500 departures were delayed on Sunday - about 60% and 76% of total flights, respectively - which Delhi International Airport Limited (DIAL) said was in part due to adverse wind patterns.
DIAL, which is majority owned by GMR Airports GMRI.NS, had shut one of its runways earlier this month to upgrade a system that helps aircraft land safely in low-visibility conditions. The airport has four runways in total.
DIAL will now resume operations on the runway in the first week of May after postponing remaining upgrade activities "for a month or so," it said in a post on X early on Monday. The upgrade works had come ahead of the busy summer travel season in India.
Passengers on social media complained of flights being delayed for hours on Sunday, both in the ground and in the air, raising concerns about stress on pilots.
DIAL pushed back against criticism in a series of X posts, saying plans for runway upgrades were done in consultation with airlines and other stakeholders over four months ago. It said adverse wind conditions had also played a role in the delays.
"When these easterly wind situations have been arising in the past few days...airlines have been advised, in accordance with pre-agreed plans, to adjust flight schedules. However, there was minimal to no changes made," DIAL said.
Delhi airport handled about 78 million passengers in 2024, making it the ninth busiest airport in the world, according to Airports Council International, as air travel booms in India post the pandemic.
To handle the surge in air travel, government authorities have planned for second airports that would serve congested cities such as Mumbai and Delhi. More airports would also accommodate the hundreds of aircraft ordered by domestic airlines IndiGo and Air India Group.
(Reporting by Abhijith Ganapavaram; Editing by Raju Gopalakrishnan)
((Email: [email protected]; Mobile: +91-9019785574;))
Hundreds of flights were delayed on Sunday
DIAL cites adverse wind patterns for delays
Passengers express frustration over lengthy flight delays on social media
By Abhijith Ganapavaram
NEW DELHI, April 21 (Reuters) - The operator of Delhi International Airport, one of the world's busiest airports, has paused works to upgrade one of its runways after passengers criticised lengthy flight delays, throwing the spotlight on increasing air traffic congestion in major cities in India.
Data from Flightradar24 showed about 400 arrivals and 500 departures were delayed on Sunday - about 60% and 76% of total flights, respectively - which Delhi International Airport Limited (DIAL) said was in part due to adverse wind patterns.
DIAL, which is majority owned by GMR Airports GMRI.NS, had shut one of its runways earlier this month to upgrade a system that helps aircraft land safely in low-visibility conditions. The airport has four runways in total.
DIAL will now resume operations on the runway in the first week of May after postponing remaining upgrade activities "for a month or so," it said in a post on X early on Monday. The upgrade works had come ahead of the busy summer travel season in India.
Passengers on social media complained of flights being delayed for hours on Sunday, both in the ground and in the air, raising concerns about stress on pilots.
DIAL pushed back against criticism in a series of X posts, saying plans for runway upgrades were done in consultation with airlines and other stakeholders over four months ago. It said adverse wind conditions had also played a role in the delays.
"When these easterly wind situations have been arising in the past few days...airlines have been advised, in accordance with pre-agreed plans, to adjust flight schedules. However, there was minimal to no changes made," DIAL said.
Delhi airport handled about 78 million passengers in 2024, making it the ninth busiest airport in the world, according to Airports Council International, as air travel booms in India post the pandemic.
To handle the surge in air travel, government authorities have planned for second airports that would serve congested cities such as Mumbai and Delhi. More airports would also accommodate the hundreds of aircraft ordered by domestic airlines IndiGo and Air India Group.
(Reporting by Abhijith Ganapavaram; Editing by Raju Gopalakrishnan)
((Email: [email protected]; Mobile: +91-9019785574;))
India's IndiGo hits record high after Motilal upgrades to 'buy'
** Shares of IndiGo airline operator Interglobe Aviation Ltd INGL.NS rise as much as 3.8% to record high of 5,347 rupees
** Motilal Oswal upgrades India's top airline by market share to "buy" from "neutral," citing stock as "best domestic consumption play"
** Believes that "benign Brent crude prices amid the ongoing geopolitical turmoil and favorable domestic demand bode well for the company"
** Softer crude prices will help IndiGo as aircraft fuel accounts for about 40% of its total expenses- Motilal Oswal
** Brokerage raises PT to Street-high of 6,550 rupees, from 4,660 rupees
** 17 of the 20 analysts covering the stock have a "buy" or "strong buy" rating; median PT is 5,600 rupees, per data compiled by LSEG
** Stock up close to 16% YTD up to last close
(Reporting by Nandan Mandayam and Shivani Tanna in Bengaluru)
(([email protected]; Mobile: +91 9591011727;))
** Shares of IndiGo airline operator Interglobe Aviation Ltd INGL.NS rise as much as 3.8% to record high of 5,347 rupees
** Motilal Oswal upgrades India's top airline by market share to "buy" from "neutral," citing stock as "best domestic consumption play"
** Believes that "benign Brent crude prices amid the ongoing geopolitical turmoil and favorable domestic demand bode well for the company"
** Softer crude prices will help IndiGo as aircraft fuel accounts for about 40% of its total expenses- Motilal Oswal
** Brokerage raises PT to Street-high of 6,550 rupees, from 4,660 rupees
** 17 of the 20 analysts covering the stock have a "buy" or "strong buy" rating; median PT is 5,600 rupees, per data compiled by LSEG
** Stock up close to 16% YTD up to last close
(Reporting by Nandan Mandayam and Shivani Tanna in Bengaluru)
(([email protected]; Mobile: +91 9591011727;))
INDIA CIVIL AVIATION SECY: HAD ONE ROUND OF MEETINGS WITH COUNTERPART IN CHINA ABOUT RESUMING DIRECT FLIGHTS BETWEEN TWO COUNTRIES
China Southern Airlines Co Ltd 600029.SS:
INDIA CIVIL AVIATION SECY: TALKS MOVING ON BUT NOT REACHED A STAGE WHERE DATES HAVE BEEN FIXED
INDIA CIVIL AVIATION SECY: HAD ONE ROUND OF MEETINGS WITH COUNTERPART IN CHINA ABOUT RESUMING DIRECT FLIGHTS BETWEEN TWO COUNTRIES
Source text: [ID:]
Further company coverage: 600029.SS
China Southern Airlines Co Ltd 600029.SS:
INDIA CIVIL AVIATION SECY: TALKS MOVING ON BUT NOT REACHED A STAGE WHERE DATES HAVE BEEN FIXED
INDIA CIVIL AVIATION SECY: HAD ONE ROUND OF MEETINGS WITH COUNTERPART IN CHINA ABOUT RESUMING DIRECT FLIGHTS BETWEEN TWO COUNTRIES
Source text: [ID:]
Further company coverage: 600029.SS
India's Interglobe Aviation gains after brokerages forecast strong March quarter results
** Shares of InterGlobe Aviation (IndiGo) INGL.NS rise 3.6% to 5,166.15 rupees after upbeat views from Jefferies and Morgan Stanley
** Morgan Stanley expects strong Q4 results driven by global expansion and lower fuel prices
** Maintains an "overweight" rating and sees a 22% upside over the next 12 months
** Says IndiGo is well placed to benefit from India’s outbound travel boom
** Jefferies also reiterates "buy" and forecasts a 27% year-on-year jump in Q4 profit
** Falling crude prices and a stronger rupee add to tailwinds for the airline, says Jefferies
** Names IndiGo as its top pick in Indian travel sector
** Average rating of 19 analysts tracking INGL is "buy", median price target is 5475 rupees, according to data compiled by LSEG
** INGL shares up 9.5% in 2025 so far, beating Nifty Next 50's .NN50 10.4% drop
(Reporting by Bharath Rajeswaran in Bengaluru)
(([email protected]; +91 9769003463;))
** Shares of InterGlobe Aviation (IndiGo) INGL.NS rise 3.6% to 5,166.15 rupees after upbeat views from Jefferies and Morgan Stanley
** Morgan Stanley expects strong Q4 results driven by global expansion and lower fuel prices
** Maintains an "overweight" rating and sees a 22% upside over the next 12 months
** Says IndiGo is well placed to benefit from India’s outbound travel boom
** Jefferies also reiterates "buy" and forecasts a 27% year-on-year jump in Q4 profit
** Falling crude prices and a stronger rupee add to tailwinds for the airline, says Jefferies
** Names IndiGo as its top pick in Indian travel sector
** Average rating of 19 analysts tracking INGL is "buy", median price target is 5475 rupees, according to data compiled by LSEG
** INGL shares up 9.5% in 2025 so far, beating Nifty Next 50's .NN50 10.4% drop
(Reporting by Bharath Rajeswaran in Bengaluru)
(([email protected]; +91 9769003463;))
India's parliament passes landmark bill in boost for aircraft lessors
By Abhijith Ganapavaram
NEW DELHI, April 3 (Reuters) - India's parliament on Thursday passed a landmark aviation bill that will make it easier for global aircraft leasing companies to repossess jets and engines when a carrier defaults on its payments, a big win for international lessors in a key market.
India's "Protection of Interests in Aircraft Objects" bill will fully implement the Cape Town Convention and Protocol, an international agreement on asset-based financing.
The issue has been in focus since 2023 when lessors like SMBC Aviation couldn't repossess aircraft from India's Go First after it filed for bankruptcy.
In that dispute, India's local laws superseded global aircraft leasing rules. But the new bill changes that, bringing relief to lessors in the world's fastest-growing aviation market.
Parliament approved the bill on Thursday and India's president will need to sign it into law, which is seen as a formality.
"The legislation will improve lessors' confidence in the Indian market and may also make it easier for upcoming airlines to lease aircraft," said Lovejeet Singh, a partner at law firm Chandhiok & Mahajan who specialises in aviation laws.
It will bring down the cost of leasing, which may translate into cheaper airfares, he added.
In the Go First saga, lessors ran into difficulties in repossessing over 50 Airbus aircraft, calling India a "risky jurisdiction" for aircraft leasing.
The country's carriers, led by biggest player IndiGo, have placed orders for over 1,300 Boeing and Airbus aircraft since 2022, aiming to take advantage of a boom in air travel.
India's aviation minister this week said the legislation was a "key step in making aircraft leasing cheaper, benefiting airlines and passengers alike".
The majority of aircraft operated by Indian carriers are on lease, either under simple leases or sale-and-leaseback agreements.
(Reporting by Abhijith Ganapavaram. Additional reporting by Nigam Prusty and Tanvi Mehta. Editing by Aditya Kalra and Mark Potter)
((Email: [email protected]; Mobile: +91-9019785574;))
By Abhijith Ganapavaram
NEW DELHI, April 3 (Reuters) - India's parliament on Thursday passed a landmark aviation bill that will make it easier for global aircraft leasing companies to repossess jets and engines when a carrier defaults on its payments, a big win for international lessors in a key market.
India's "Protection of Interests in Aircraft Objects" bill will fully implement the Cape Town Convention and Protocol, an international agreement on asset-based financing.
The issue has been in focus since 2023 when lessors like SMBC Aviation couldn't repossess aircraft from India's Go First after it filed for bankruptcy.
In that dispute, India's local laws superseded global aircraft leasing rules. But the new bill changes that, bringing relief to lessors in the world's fastest-growing aviation market.
Parliament approved the bill on Thursday and India's president will need to sign it into law, which is seen as a formality.
"The legislation will improve lessors' confidence in the Indian market and may also make it easier for upcoming airlines to lease aircraft," said Lovejeet Singh, a partner at law firm Chandhiok & Mahajan who specialises in aviation laws.
It will bring down the cost of leasing, which may translate into cheaper airfares, he added.
In the Go First saga, lessors ran into difficulties in repossessing over 50 Airbus aircraft, calling India a "risky jurisdiction" for aircraft leasing.
The country's carriers, led by biggest player IndiGo, have placed orders for over 1,300 Boeing and Airbus aircraft since 2022, aiming to take advantage of a boom in air travel.
India's aviation minister this week said the legislation was a "key step in making aircraft leasing cheaper, benefiting airlines and passengers alike".
The majority of aircraft operated by Indian carriers are on lease, either under simple leases or sale-and-leaseback agreements.
(Reporting by Abhijith Ganapavaram. Additional reporting by Nigam Prusty and Tanvi Mehta. Editing by Aditya Kalra and Mark Potter)
((Email: [email protected]; Mobile: +91-9019785574;))
India's IndiGo airline operator drops on $110 million tax penalty
** Shares of airline operator InterGlobe Aviation INGL.NS drop 2.4% to 4,994.65 rupees
** India's income tax authority imposes 9.44 bln rupees ($110.4 mln) penalty for assessment year 2021-2022
** INGL says penalty is erroneous, will take legal remedies
** INGL shares are up nearly 10% in 2025, while the Nifty Next 50 .NN50 is down 8.5%
($1 = 85.5370 Indian rupees)
(Reporting by Bharath Rajeswaran in Bengaluru)
(([email protected]; +91 9769003463;))
** Shares of airline operator InterGlobe Aviation INGL.NS drop 2.4% to 4,994.65 rupees
** India's income tax authority imposes 9.44 bln rupees ($110.4 mln) penalty for assessment year 2021-2022
** INGL says penalty is erroneous, will take legal remedies
** INGL shares are up nearly 10% in 2025, while the Nifty Next 50 .NN50 is down 8.5%
($1 = 85.5370 Indian rupees)
(Reporting by Bharath Rajeswaran in Bengaluru)
(([email protected]; +91 9769003463;))
Interglobe Aviation Says It Will Take Legal Remedies Against Government's Tax Demand Of 9.44 Billion Rupees - Statement
March 30 (Reuters) - Interglobe Aviation Ltd INGL.NS:
SAYS IT WILL CONTEST AND TAKE LEGAL REMEDIES AGAINST INDIA GOVERNMENT'S TAX DEMAND OF 9.44 BILLION RUPEES - STATEMENT
Further company coverage: INGL.NS
(Reporting by Aftab Ahmed)
(([email protected];))
March 30 (Reuters) - Interglobe Aviation Ltd INGL.NS:
SAYS IT WILL CONTEST AND TAKE LEGAL REMEDIES AGAINST INDIA GOVERNMENT'S TAX DEMAND OF 9.44 BILLION RUPEES - STATEMENT
Further company coverage: INGL.NS
(Reporting by Aftab Ahmed)
(([email protected];))
IndiGo Says IndiGo Bluchip, Co's Loyalty Program, Has Crossed 2 Million Members
March 27 (Reuters) - Interglobe Aviation Ltd INGL.NS:
INDIGO - INDIGO BLUCHIP, CO'S LOYALTY PROGRAM, HAS CROSSED 2 MILLION MEMBERS
Source text: [ID:]
Further company coverage: INGL.NS
(([email protected];))
March 27 (Reuters) - Interglobe Aviation Ltd INGL.NS:
INDIGO - INDIGO BLUCHIP, CO'S LOYALTY PROGRAM, HAS CROSSED 2 MILLION MEMBERS
Source text: [ID:]
Further company coverage: INGL.NS
(([email protected];))
FOCUS-Inside Akasa Air's struggles with Boeing delivery delays and idle pilots
India's newest airline faces crises amid Boeing challenges
Hundreds of Akasa pilots cannot fly as deliveries delayed
Airline's top executives reveal Boeing stress in closed-door meeting
Akasa says it is 'fully aligned' with US planemaker
By Aditya Kalra and Abhijith Ganapavaram
NEW DELHI, March 20 (Reuters) - Frustration is building inside India's newest airline, Akasa Air, with top executives privately criticising Boeing BA.N for delayed plane deliveries and scrambling to assuage hundreds of anxious pilots who remain idle without work.
Troubles at Akasa, backed by an Indian billionaire's family, are among the starkest examples of how Boeing's woes are crippling airlines globally and having a ripple effect on their planned expansions.
The Mumbai-based low-cost airline, which started operations about three years ago, has a fleet of 27 planes, but has 226 jets - all Boeing 737 MAXs - on order. Deliveries have been delayed as Boeing's 737 programme faced regulatory scrutiny after a mid-air cabin panel blowout last year and suffered from the effects of a seven-week workers' strike.
Just as Akasa has expressed confidence in Boeing publicly, its executives voiced optimism about U.S. planemaker's turnaround in a private February town hall with pilots, but top executives did not shy away from candidly revealing the operational stress they face, according to an audio recording reviewed by Reuters.
During the previously unreported meeting, Akasa's chief of strategic acquisitions, Priya Mehra, described Boeing as the "elephant in the room" whose workers' strike caused "sleepless nights". Co-founder Aditya Ghosh referred to the company as "Boeing bloody ... retarding our speed".
"We just don't have enough aircraft to fly ... nobody wants to sit at home and twiddle their thumbs," CEO Vinay Dube told the gathering of pilots.
Akasa did not comment on queries about the remarks made in the town hall, but said it is in "continuous discussions with Boeing" and is "fully aligned with the steps they are taking to enhance quality and streamline resources."
Boeing's woes have hit airlines globally. U.S. budget carrier Southwest Airlines LUV.N, which operates an all-Boeing fleet, had to lay off workers company-wide for the first time in its history, in part due to delivery delays.
However, most airline executives have avoided direct public criticism of Boeing since a closed-door revolt by major U.S. carriers led to the resignation of CEO David Calhoun last year.
Campbell Wilson, the CEO of Akasa's larger rival Air India, which ordered 220 Boeing planes in 2023, this week said global aircraft shortage will persist for four to five years and "we are victims of circumstance."
But as a far smaller player, the stakes are higher for Akasa, a loss-making carrier on an expansion spree in the world's fastest-growing aviation market.
Compared to Air India and market leader IndiGo's INGL.NS combined 90%-plus market dominance, Akasa, the country's third-largest airline, has just a 4.7% domestic market share.
Akasa's revenue quadrupled to $356 million last year, but its loss widened to $194 million from $86 million.
In a sign of tension between the airline and the planemaker, Mehra informed pilots during the town hall that Akasa CEO Dube had told Boeing to stop holding "big events and parties" and "focus on the production."
It was unclear which events Dube was referring to.
Boeing did not have an official presence at China's biggest air show in November after its management ordered reduced participation in industry events when the strike began in September, though it attended the Aero India show last month.
Boeing did not respond to Reuters' queries.
Akasa's co-founder Ghosh, previously IndiGo's president, told the town hall that it would take 16 to 20 months to double its fleet size.
That would mean Akasa will have roughly 54 planes by October 2026, though the airline had earlier estimated it would have 72 by March 2027.
PILOTS NOT FLYING
Akasa, started with the backing of late Rakesh Jhunjhunwala, dubbed India's Warren Buffett, went on a hiring spree and launched international routes to Qatar and Saudi Arabia within two years of its launch.
Despite challenges, Akasa in February raised an undisclosed amount of new capital from Indian billionaire tycoon Azim Premji's investment arm and Jhunjhunwala's family.
Of its 775 pilots hired for flying, 60%, or 465, "are able to log flying hours", Akasa said. That means 310 pilots are currently grounded due to the lack of planes.
Akasa said "most of the remaining 300 pilots will also be able to fly by 2025-end", without explaining how.
Three pilots said on condition of anonymity there was widespread frustration among those who joined the company months ago and still are not flying.
"I am making peanuts sitting at home," said one pilot who cannot clock incentives and has lost out on career progression, both of which come with flying hours.
Quitting would also force repayment of training bond of $41,700. Pilots earn basic annual pay of $35,000 to $111,000, depending on rank, for flying 40 hours a month.
Employee costs at Akasa more than tripled to $90 million last year.
"Akasa should take a hard look at (pilot) numbers and if necessary, they should trim the number," said Harsh Vardhan, chairman of Starair Consulting.
In December, Akasa sent an email to pilots, seen by Reuters, which said those waiting for their training had a "unique opportunity" to diversify their skills into "information technology" and "maintenance and engineering". But in return, they would receive no more pay than they get sitting at home.
"This initiative is not a stop-gap arrangement but rather a strategic effort to offer broader career development," Akasa told Reuters.
"There is no other airline in India or the world that can offer better career advancement opportunities to their pilots."
Akasa annual losses deepen https://reut.rs/3DocL4n
(Reporting by Aditya Kalra and Abhijith Ganapavaram; Editing by Jamie Freed)
((Email: [email protected]; Mobile: +91-9019785574;))
India's newest airline faces crises amid Boeing challenges
Hundreds of Akasa pilots cannot fly as deliveries delayed
Airline's top executives reveal Boeing stress in closed-door meeting
Akasa says it is 'fully aligned' with US planemaker
By Aditya Kalra and Abhijith Ganapavaram
NEW DELHI, March 20 (Reuters) - Frustration is building inside India's newest airline, Akasa Air, with top executives privately criticising Boeing BA.N for delayed plane deliveries and scrambling to assuage hundreds of anxious pilots who remain idle without work.
Troubles at Akasa, backed by an Indian billionaire's family, are among the starkest examples of how Boeing's woes are crippling airlines globally and having a ripple effect on their planned expansions.
The Mumbai-based low-cost airline, which started operations about three years ago, has a fleet of 27 planes, but has 226 jets - all Boeing 737 MAXs - on order. Deliveries have been delayed as Boeing's 737 programme faced regulatory scrutiny after a mid-air cabin panel blowout last year and suffered from the effects of a seven-week workers' strike.
Just as Akasa has expressed confidence in Boeing publicly, its executives voiced optimism about U.S. planemaker's turnaround in a private February town hall with pilots, but top executives did not shy away from candidly revealing the operational stress they face, according to an audio recording reviewed by Reuters.
During the previously unreported meeting, Akasa's chief of strategic acquisitions, Priya Mehra, described Boeing as the "elephant in the room" whose workers' strike caused "sleepless nights". Co-founder Aditya Ghosh referred to the company as "Boeing bloody ... retarding our speed".
"We just don't have enough aircraft to fly ... nobody wants to sit at home and twiddle their thumbs," CEO Vinay Dube told the gathering of pilots.
Akasa did not comment on queries about the remarks made in the town hall, but said it is in "continuous discussions with Boeing" and is "fully aligned with the steps they are taking to enhance quality and streamline resources."
Boeing's woes have hit airlines globally. U.S. budget carrier Southwest Airlines LUV.N, which operates an all-Boeing fleet, had to lay off workers company-wide for the first time in its history, in part due to delivery delays.
However, most airline executives have avoided direct public criticism of Boeing since a closed-door revolt by major U.S. carriers led to the resignation of CEO David Calhoun last year.
Campbell Wilson, the CEO of Akasa's larger rival Air India, which ordered 220 Boeing planes in 2023, this week said global aircraft shortage will persist for four to five years and "we are victims of circumstance."
But as a far smaller player, the stakes are higher for Akasa, a loss-making carrier on an expansion spree in the world's fastest-growing aviation market.
Compared to Air India and market leader IndiGo's INGL.NS combined 90%-plus market dominance, Akasa, the country's third-largest airline, has just a 4.7% domestic market share.
Akasa's revenue quadrupled to $356 million last year, but its loss widened to $194 million from $86 million.
In a sign of tension between the airline and the planemaker, Mehra informed pilots during the town hall that Akasa CEO Dube had told Boeing to stop holding "big events and parties" and "focus on the production."
It was unclear which events Dube was referring to.
Boeing did not have an official presence at China's biggest air show in November after its management ordered reduced participation in industry events when the strike began in September, though it attended the Aero India show last month.
Boeing did not respond to Reuters' queries.
Akasa's co-founder Ghosh, previously IndiGo's president, told the town hall that it would take 16 to 20 months to double its fleet size.
That would mean Akasa will have roughly 54 planes by October 2026, though the airline had earlier estimated it would have 72 by March 2027.
PILOTS NOT FLYING
Akasa, started with the backing of late Rakesh Jhunjhunwala, dubbed India's Warren Buffett, went on a hiring spree and launched international routes to Qatar and Saudi Arabia within two years of its launch.
Despite challenges, Akasa in February raised an undisclosed amount of new capital from Indian billionaire tycoon Azim Premji's investment arm and Jhunjhunwala's family.
Of its 775 pilots hired for flying, 60%, or 465, "are able to log flying hours", Akasa said. That means 310 pilots are currently grounded due to the lack of planes.
Akasa said "most of the remaining 300 pilots will also be able to fly by 2025-end", without explaining how.
Three pilots said on condition of anonymity there was widespread frustration among those who joined the company months ago and still are not flying.
"I am making peanuts sitting at home," said one pilot who cannot clock incentives and has lost out on career progression, both of which come with flying hours.
Quitting would also force repayment of training bond of $41,700. Pilots earn basic annual pay of $35,000 to $111,000, depending on rank, for flying 40 hours a month.
Employee costs at Akasa more than tripled to $90 million last year.
"Akasa should take a hard look at (pilot) numbers and if necessary, they should trim the number," said Harsh Vardhan, chairman of Starair Consulting.
In December, Akasa sent an email to pilots, seen by Reuters, which said those waiting for their training had a "unique opportunity" to diversify their skills into "information technology" and "maintenance and engineering". But in return, they would receive no more pay than they get sitting at home.
"This initiative is not a stop-gap arrangement but rather a strategic effort to offer broader career development," Akasa told Reuters.
"There is no other airline in India or the world that can offer better career advancement opportunities to their pilots."
Akasa annual losses deepen https://reut.rs/3DocL4n
(Reporting by Aditya Kalra and Abhijith Ganapavaram; Editing by Jamie Freed)
((Email: [email protected]; Mobile: +91-9019785574;))
India's IndiGo expects to increase international route seats by fiscal year 2030
March 19 (Reuters) - Indian airline IndiGo INGL.NS plans to significantly increase the number of seats it allocates for international flights by fiscal year 2030 to secure greater market share, it said on Wednesday.
The no-frills airline expects to increase its international capacity share, or the proportion of its total available seat kilometers for international routes, to 40% from 28% currently, it said in an investor presentation.
The airline reached its current capacity share in seven years, from 14% in fiscal year 2018.
The airline currently flies to 40 international destinations, and has about 19% share of India's international flight market, according to the latest data from the country's aviation regulator.
Shares of the company were up 4.2% following the announcement.
IndiGo's push beyond the domestic market, where it commands a nearly 60% share, comes at a time when Indian carriers are racing to keep pace with surging demand for both domestic and international air travel, despite aircraft supply constraints.
The company had in January said it plans to boost its international operations, which currently account for about 10% of revenue according to its December-quarter update.
Last month, IndiGo announced plans to lease a Boeing 787-9 Dreamliner widebody jet from Norse Atlantic Airways NORSE.OL as part of its efforts to tap into long-haul routes.
IndiGo also plans to add business class seats to its Airbus AIR.PA A321XLR and A350 aircraft to boost revenue, a business class tickets cost roughly thrice as much as economy class.
IndiGo introduced business class seats late last year on some domestic routes, its first departure from an all-economy cabin, and is aiming to capitalise on the growing demand for premium travel among Indians.
The airline also reaffirmed its goal of increasing its aircraft fleet to over 600 by 2030 from about 437 currently.
(Reporting by Meenakshi Maidas in Bengaluru; Editing by Varun H K)
(([email protected]; +91 8921483410;))
March 19 (Reuters) - Indian airline IndiGo INGL.NS plans to significantly increase the number of seats it allocates for international flights by fiscal year 2030 to secure greater market share, it said on Wednesday.
The no-frills airline expects to increase its international capacity share, or the proportion of its total available seat kilometers for international routes, to 40% from 28% currently, it said in an investor presentation.
The airline reached its current capacity share in seven years, from 14% in fiscal year 2018.
The airline currently flies to 40 international destinations, and has about 19% share of India's international flight market, according to the latest data from the country's aviation regulator.
Shares of the company were up 4.2% following the announcement.
IndiGo's push beyond the domestic market, where it commands a nearly 60% share, comes at a time when Indian carriers are racing to keep pace with surging demand for both domestic and international air travel, despite aircraft supply constraints.
The company had in January said it plans to boost its international operations, which currently account for about 10% of revenue according to its December-quarter update.
Last month, IndiGo announced plans to lease a Boeing 787-9 Dreamliner widebody jet from Norse Atlantic Airways NORSE.OL as part of its efforts to tap into long-haul routes.
IndiGo also plans to add business class seats to its Airbus AIR.PA A321XLR and A350 aircraft to boost revenue, a business class tickets cost roughly thrice as much as economy class.
IndiGo introduced business class seats late last year on some domestic routes, its first departure from an all-economy cabin, and is aiming to capitalise on the growing demand for premium travel among Indians.
The airline also reaffirmed its goal of increasing its aircraft fleet to over 600 by 2030 from about 437 currently.
(Reporting by Meenakshi Maidas in Bengaluru; Editing by Varun H K)
(([email protected]; +91 8921483410;))
Morgan Stanley adds Coforge, Indigo to India focus list, knocks off Infosys, Mahindra
** Morgan Stanley tweaks its India focus list of stocks to add IT company Coforge COFO.NS and airlines operator Interglobe Aviation INGL.NS
** Brokerage removes Infosys INFY.NS and automaker Mahindra & Mahindra MAHM.NS to accommodate the additions
** Brokerage remains positive on large private sector financials, consumer, industrial and IT stocks
** Large-deal momentum, increasing addressable market, execution track record bodes well for COFO's growth prospects, it says
** Adds, COFO's recent underperformance over IT stocks offers good entry point
** COFO down 25% in 2025 so far; IT .NIFTYIT lost 17%
** INGL's rising market share in India, one of the fastest growing aviation markets, to aid earnings over fiscal years 2025-2027, according to Morgan Stanley
** COFO little changed on the day, INGL is up 1.6%; INFY and MAHM up 0.4% and 1.9%, respectively
List of stocks in Morgan Stanley's India focus list https://reut.rs/4iV7H6m
(Reporting by Bharath Rajeswaran in Bengaluru)
(([email protected]; +91 9769003463;))
** Morgan Stanley tweaks its India focus list of stocks to add IT company Coforge COFO.NS and airlines operator Interglobe Aviation INGL.NS
** Brokerage removes Infosys INFY.NS and automaker Mahindra & Mahindra MAHM.NS to accommodate the additions
** Brokerage remains positive on large private sector financials, consumer, industrial and IT stocks
** Large-deal momentum, increasing addressable market, execution track record bodes well for COFO's growth prospects, it says
** Adds, COFO's recent underperformance over IT stocks offers good entry point
** COFO down 25% in 2025 so far; IT .NIFTYIT lost 17%
** INGL's rising market share in India, one of the fastest growing aviation markets, to aid earnings over fiscal years 2025-2027, according to Morgan Stanley
** COFO little changed on the day, INGL is up 1.6%; INFY and MAHM up 0.4% and 1.9%, respectively
List of stocks in Morgan Stanley's India focus list https://reut.rs/4iV7H6m
(Reporting by Bharath Rajeswaran in Bengaluru)
(([email protected]; +91 9769003463;))
Interglobe Aviation Approves Investment Of Up To 3.94 Bln Rupees In Unit
March 12 (Reuters) - Interglobe Aviation Ltd INGL.NS:
APPROVES INVESTMENT OF UP TO 3,940 MILLION RUPEES IN SUBSIDIARY
INVESTMENT TO FINANCE AVIATION ASSETS AND REPAY LOANS
TO INVEST IN SHARES OF INTERGLOBE AVIATION FINANCIAL SERVICES IFSC
Source text: ID:nBSE3P5DlW
Further company coverage: INGL.NS
(([email protected];;))
March 12 (Reuters) - Interglobe Aviation Ltd INGL.NS:
APPROVES INVESTMENT OF UP TO 3,940 MILLION RUPEES IN SUBSIDIARY
INVESTMENT TO FINANCE AVIATION ASSETS AND REPAY LOANS
TO INVEST IN SHARES OF INTERGLOBE AVIATION FINANCIAL SERVICES IFSC
Source text: ID:nBSE3P5DlW
Further company coverage: INGL.NS
(([email protected];;))
Indigo Signs Firm Damp Lease Agreement For Additional Three Wide-Body Aircraft With Norse Atlantic Airways
Feb 26 (Reuters) - Interglobe Aviation Ltd INGL.NS:
INDIGO: SIGNS FIRM DAMP LEASE AGREEMENT FOR ADDITIONAL THREE WIDE-BODY AIRCRAFT WITH NORSE ATLANTIC AIRWAYS
INDIGO: AIRCRAFT WILL BE ARRIVING IN INDIA IN SECOND HALF OF 2025
Further company coverage: INGL.NS
(([email protected];))
Feb 26 (Reuters) - Interglobe Aviation Ltd INGL.NS:
INDIGO: SIGNS FIRM DAMP LEASE AGREEMENT FOR ADDITIONAL THREE WIDE-BODY AIRCRAFT WITH NORSE ATLANTIC AIRWAYS
INDIGO: AIRCRAFT WILL BE ARRIVING IN INDIA IN SECOND HALF OF 2025
Further company coverage: INGL.NS
(([email protected];))
Indigo Will Commence Operations With Leased Boeing 787-9 Wide Body Aircraft On Delhi- Bangkok Route
Feb 25 (Reuters) - Interglobe Aviation Ltd INGL.NS:
INDIGO - WILL COMMENCE OPERATIONS WITH LEASED BOEING 787-9 WIDE BODY AIRCRAFT ON DELHI- BANGKOK ROUTE
Source text: [ID:]
Further company coverage: INGL.NS
(([email protected];;))
Feb 25 (Reuters) - Interglobe Aviation Ltd INGL.NS:
INDIGO - WILL COMMENCE OPERATIONS WITH LEASED BOEING 787-9 WIDE BODY AIRCRAFT ON DELHI- BANGKOK ROUTE
Source text: [ID:]
Further company coverage: INGL.NS
(([email protected];;))
Global aerospace firms turn to India amid Western supply chain crisis
Repeats story published on Feb 17, with no changes to text
By Nivedita Bhattacharjee
BENGALURU, Feb 17 (Reuters) - Airbus AIR.PA, Collins Aerospace, Pratt & Whitney, and Rolls-Royce RR.L are expanding parts sourcing from India, driving growth in the country's emerging aerospace sector and pushing local firms to elevate their games, industry insiders say.
Bengaluru-based Hical Technologies and JJG Aero are among those riding the wave. Hical, a supplier to Raytheon Technology and Boeing among others, aims to double revenue to 5 billion rupees ($57.57 million) from its aerospace division in three years, said Yashas Jaiveer Shashikiran, joint managing director.
JJG Aero, also in Bengaluru’s industrial hub, took 12 years to hit $2 million in revenue but soared to $20 million in the last six, said CEO Anuj Jhunjhunwala.
The growth is part of an Asia-Pacific aerospace surge, with 2024 revenue projected to be 54% above 2019 levels, while North America and Europe remain 3% and 4% lower, according to Accenture Research.
“Earlier, we were chasing customers. Now, they are equally interested in evaluating Indian machine shops,” Jhunjhunwala said, adding that contracts were being signed more quickly and onboarding processes being done much faster than ever before.
The companies produce parts for landing gear, wings, fuselage, electrical switches and motion control systems essential for flight safety and performance.
Leading Western plane and engine manufacturers, whose output has been constrained by strikes, production caps, and parts and labour shortages since the pandemic, say they want to source more from India to meet rising demand for air travel.
"India is the best solution to supply chain challenges,” Huw Morgan, senior vice president for aerospace procurement at Rolls-Royce, said last week at an industry event.
"Our engine volumes are growing at around 20% and the traditional supply chains are just not able to support it," Morgan said. "India is ... the best cost market."
The British company plans to double sourcing from India within five years.
The country is among the biggest aircraft buyers in the world, yet accounts for only 1% of the global supply chain market, according to the recently formed Aerospace India Association.
"Post-Covid, the global aerospace industry has reached an inflection point. While this shift began in 2020, aerospace is a slow-moving industry — it takes time for changes to materialise," said Aravind Melligeri of supplier Aequs.
MORE PLANES, MORE PARTS
India, the world's third-largest domestic aviation market by seats, is also among the fastest-growing, driving demand for maintenance services and parts.
Massive aircraft orders from IndiGo INGL.NS and Air India are fuelling growth across the aviation ecosystem, Air India CEO Campbell Wilson told Reuters.
Although Indian firms have long supplied the $180 billion global aerospace industry, they are now moving beyond basic manufacturing to higher-value work such as design, engineering, and system integration.
Airbus in 2024 awarded its second aircraft door contract within a year to Indian suppliers.
"India is contributing more than 1 billion euros currently in the overall Airbus supply chain and we expect to double that. Every commercial aircraft of Airbus today has some part or component that is made in India," said Michel Narchi, head Of international operations at Airbus said.
INDUSTRY EFFORTS
India’s civil aviation ministry held a meeting last week with industry leaders about boosting component manufacturing, said AIA Director General Srinivasan Dwarakanath. The association represents both Indian and global firms.
He said a key step towards real value addition would be the local sourcing of raw materials such as aluminium, steel, and titanium, eventually leading to certification of designs made by Indian suppliers.
The AIA estimates that India's aerospace industry will capture 10% of the global supply chain market within a decade, with the global market projected to reach $250 billion annually by 2033.
"India also had the initial challenges of being physically farther away from the main markets of the U.S. and Europe. Engineering approvals, qualification timings, raw material sourcing - it took some time to build the ecosystem, but now India is all set," said Hical's Yashas Jaiveer.
(Reporting by Nivedita Bhattacharjee in Bengaluru; additional reporting by Lisa Barrington in Seoul and Joanna Plucinska in London; Editing by Gerry Doyle)
(([email protected]; Mobile: +91 9920455129; X: @tweetsfromnivi;))
Repeats story published on Feb 17, with no changes to text
By Nivedita Bhattacharjee
BENGALURU, Feb 17 (Reuters) - Airbus AIR.PA, Collins Aerospace, Pratt & Whitney, and Rolls-Royce RR.L are expanding parts sourcing from India, driving growth in the country's emerging aerospace sector and pushing local firms to elevate their games, industry insiders say.
Bengaluru-based Hical Technologies and JJG Aero are among those riding the wave. Hical, a supplier to Raytheon Technology and Boeing among others, aims to double revenue to 5 billion rupees ($57.57 million) from its aerospace division in three years, said Yashas Jaiveer Shashikiran, joint managing director.
JJG Aero, also in Bengaluru’s industrial hub, took 12 years to hit $2 million in revenue but soared to $20 million in the last six, said CEO Anuj Jhunjhunwala.
The growth is part of an Asia-Pacific aerospace surge, with 2024 revenue projected to be 54% above 2019 levels, while North America and Europe remain 3% and 4% lower, according to Accenture Research.
“Earlier, we were chasing customers. Now, they are equally interested in evaluating Indian machine shops,” Jhunjhunwala said, adding that contracts were being signed more quickly and onboarding processes being done much faster than ever before.
The companies produce parts for landing gear, wings, fuselage, electrical switches and motion control systems essential for flight safety and performance.
Leading Western plane and engine manufacturers, whose output has been constrained by strikes, production caps, and parts and labour shortages since the pandemic, say they want to source more from India to meet rising demand for air travel.
"India is the best solution to supply chain challenges,” Huw Morgan, senior vice president for aerospace procurement at Rolls-Royce, said last week at an industry event.
"Our engine volumes are growing at around 20% and the traditional supply chains are just not able to support it," Morgan said. "India is ... the best cost market."
The British company plans to double sourcing from India within five years.
The country is among the biggest aircraft buyers in the world, yet accounts for only 1% of the global supply chain market, according to the recently formed Aerospace India Association.
"Post-Covid, the global aerospace industry has reached an inflection point. While this shift began in 2020, aerospace is a slow-moving industry — it takes time for changes to materialise," said Aravind Melligeri of supplier Aequs.
MORE PLANES, MORE PARTS
India, the world's third-largest domestic aviation market by seats, is also among the fastest-growing, driving demand for maintenance services and parts.
Massive aircraft orders from IndiGo INGL.NS and Air India are fuelling growth across the aviation ecosystem, Air India CEO Campbell Wilson told Reuters.
Although Indian firms have long supplied the $180 billion global aerospace industry, they are now moving beyond basic manufacturing to higher-value work such as design, engineering, and system integration.
Airbus in 2024 awarded its second aircraft door contract within a year to Indian suppliers.
"India is contributing more than 1 billion euros currently in the overall Airbus supply chain and we expect to double that. Every commercial aircraft of Airbus today has some part or component that is made in India," said Michel Narchi, head Of international operations at Airbus said.
INDUSTRY EFFORTS
India’s civil aviation ministry held a meeting last week with industry leaders about boosting component manufacturing, said AIA Director General Srinivasan Dwarakanath. The association represents both Indian and global firms.
He said a key step towards real value addition would be the local sourcing of raw materials such as aluminium, steel, and titanium, eventually leading to certification of designs made by Indian suppliers.
The AIA estimates that India's aerospace industry will capture 10% of the global supply chain market within a decade, with the global market projected to reach $250 billion annually by 2033.
"India also had the initial challenges of being physically farther away from the main markets of the U.S. and Europe. Engineering approvals, qualification timings, raw material sourcing - it took some time to build the ecosystem, but now India is all set," said Hical's Yashas Jaiveer.
(Reporting by Nivedita Bhattacharjee in Bengaluru; additional reporting by Lisa Barrington in Seoul and Joanna Plucinska in London; Editing by Gerry Doyle)
(([email protected]; Mobile: +91 9920455129; X: @tweetsfromnivi;))
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What does Interglobe Aviation do?
Interglobe Aviation, operating as IndiGo, is India's largest low-cost passenger airline offering a focus on affordability, punctuality, and passenger satisfaction in the domestic air travel sector with specialization in on-time performance.
Who are the competitors of Interglobe Aviation?
Interglobe Aviation major competitors are SpiceJet, Global Vectra Helico. Market Cap of Interglobe Aviation is ₹2,03,786 Crs. While the median market cap of its peers are ₹3,134 Crs.
Is Interglobe Aviation financially stable compared to its competitors?
Interglobe Aviation seems to be financially stable compared to its competitors. The probability of it going bankrupt or facing a financial crunch seem to be lower than its immediate competitors.
Does Interglobe Aviation pay decent dividends?
The company seems to be paying a very low dividend. Investors need to see where the company is allocating its profits. Interglobe Aviation latest dividend payout ratio is 0% and 3yr average dividend payout ratio is 0%
How has Interglobe Aviation allocated its funds?
Companies resources are allocated to majorly productive assets like Plant & Machinery and unproductive assets like Cash & Short Term Investments
How strong is Interglobe Aviation balance sheet?
Balance sheet of Interglobe Aviation is moderately strong.
Is the profitablity of Interglobe Aviation improving?
The profit is oscillating. The profit of Interglobe Aviation is ₹7,258 Crs for TTM, ₹8,172 Crs for Mar 2024 and -₹305.79 Crs for Mar 2023.
Is the debt of Interglobe Aviation increasing or decreasing?
Yes, The net debt of Interglobe Aviation is increasing. Latest net debt of Interglobe Aviation is -₹17,162.9 Crs as of Mar-25. This is greater than Mar-24 when it was -₹31,547.74 Crs.
Is Interglobe Aviation stock expensive?
Interglobe Aviation is expensive when considering the PE ratio, however latest EV/EBIDTA is < 3 yr avg EV/EBIDTA. Latest PE of Interglobe Aviation is 28.08, while 3 year average PE is 9.8. Also latest EV/EBITDA of Interglobe Aviation is 10.33 while 3yr average is 20.28.
Has the share price of Interglobe Aviation grown faster than its competition?
Interglobe Aviation has given better returns compared to its competitors. Interglobe Aviation has grown at ~19.37% over the last 9yrs while peers have grown at a median rate of 2.0%
Is the promoter bullish about Interglobe Aviation?
Promoters stake in the company seems stable, and we need to go through filings and allocation of resources to gauge promoter bullishness. Latest quarter promoter holding in Interglobe Aviation is 49.27% and last quarter promoter holding is 49.27%.
Are mutual funds buying/selling Interglobe Aviation?
The mutual fund holding of Interglobe Aviation is decreasing. The current mutual fund holding in Interglobe Aviation is 14.19% while previous quarter holding is 14.51%.