Spicejet posts 57% growth in revenues
Spicejet Ltd has recorded another robust quarter, with revenues increasing by 57% to Rs12.07bn in the quarter ended September, 30, 2012 as compared to Rs7.66bn same period last year.
The average realization per passenger in the quarter under review increased 37% as compared to the corresponding quarter a year ago. Load factors that are traditionally low during the July – Sept quarter dropped slightly at 66.3% as compared to 67.2% achieved last year.
High fuel prices along with a volatile Indian rupee continue to impact the Indian civil aviation sector as a whole. The international crude prices which saw some reduction during the previous quarter firmed up and threatened to get closer to the previously recorded highs, although we are now starting to see some signs of stability at lower levels. Fuel as a proportion of revenues was at 53% as against a comparable ratio of 62% last year; the sharp improvement in efficiency was due to better pricing discipline adopted by SpiceJet and redeployment of aircraft on to more profitable routes. During the quarter, SpiceJet opened up several new stations namely Chandigarh, Amritsar, Hubli, Dehradun, Jabalpur within the country and Kabul internationally. These sectors look very promising and we believe that with regular addition of under-served locations, SpiceJet is well poised to becoming the best network in India.
The Indian Rupee despite several expert opinions to the contrary continuous to be weak.
Despite the strident rise in yields, SpiceJet posted a Net Loss of Rs. 163.52 crore for the quarter ended September 30, 2012 as against a loss of Rs.240.07 crore for the comparable period last fiscal year.
Qatar Airways takes delivery of first 787 Dreamliner
Qatar Airways has taken delivery of its first Boeing 787 Dreamliner at a special ceremony held at the US aircraft manufacturer’s Seattle headquarters.
A Boeing hangar was the fitting venue for the official handing over of the aircraft to Qatar Airways, a ceremony watched by scores of airline management, Boeing executives and both local and international media. Guest of honour was Qatar’s Ambassador to the United States, His Excellency Mohamed Bin Abdulla Al-Rumaihi.
The event also witnessed a celebratory dinner where employees from both Boeing and Qatar Airways were honoured for their dedication and commitment, working together on the 787 project. The airline’s first Dreamliner took off from Seattle for Doha yesterday, arriving into Qatar today.(Wednesday 14 November). Read more…
In Focus Stories
KFA seeks more time from DGCA to submit revival plan: reports
Kingfisher Airlines has sought more time to submit a comprehensive revival plan to the aviation regulator DGCA, according to reports.
Reports stated that the airline has written a letter to Civil Aviation Secretary K N Shrivastava seeking more time to submit its plan to get the suspension of its flying permit revoked.
This move came after its employees threatened to chalk out an action plan next week if they did not receive their May salaries by November 17.
IndiGo launches four new flights connecting Delhi and Bangalore with PuneIndiGo, India’s largest carrier is further enhancing its customer experience with the launch of four new flights on its domestic network. Effective Nov 20, India’s best on time performer, will operate its third daily and direct flight between Delhi and Pune and between Bangalore and Pune.
These new flights are designed to serve the growing demand between the two business hubs of India. These flights will give more choice to business and leisure travelers who are constantly on the lookout for new and affordable flying options.
These new services will further consolidate IndiGo’s position as the fastest growing airline in India, with its 59 brand new Airbus A320 aircraft, 373 flights connecting 33 destinations across the nation. In addition, Pune will also be connected to Kochi Via Bangalore effective Nov 29. Read more…
Jet airways offers flight of fantasy on occassion of Childrens day
Jet Airways, India’s premier airline, on the occasion of Children’s Day, operated its annual ‘Flight of Fantasy’ for over 100 children from marginalized sections and those with special needs. As part of its annual community service initiative, Jet Airways gave these children wings to fly, by taking them on-board the airlines state-of-the-art Boeing 737-800 to experience the joy of flying.
The children were treated to over an hour of flying along the west coast of India taking off from Mumbai’s domestic airport, Chattrapati Shivaji International Airport (CSIA) for this once in a lifetime opportunity. Through this unique initiative Jet Airways, hopes to open up the wonderful world of aviation to children vulnerable and most at - risk in our society.
The Flight of Fantasy was operated with the support of non-governmental organisations (NGO’s) Arushi - The Learning Centre, Aseema, Cancer Aid and Research Foundation, Kalyandeep - K.C. Nanavati Special School, Save the Children India & Shrimad Rajchandra Love and Care, who are all dedicated to the upliftment and education of children. Corporate partners GE Volunteers joined hands with the airline to support this noble cause.
Air India's bond sale fully subscribed: reports
Aviation secretary K.N. Srivastava reportedly said that Air India's bond sale worth Rs74 bn was fully subscribed and would save the company about one billion rupees a month in interest payments.
The bond sale comes under a Rs224.68 bn restructuring plan approved for the state run carrier, which has not posted a net profit in the last five years, reports said.
Jet Airways enters into partnership with Expedia Affiliate Network
Jet Airways, India's premier International airline, has entered into a partnership with the Expedia Affiliate Network (EAN) to offer budget and luxury hotel bookings within India and across the globe on our website www.jetairways.com.
As an introductory offer, guests of Jet Airways can enjoy an exclusive 5% discount at more than 160,000 hotels in over 20,000 cities across the world by booking their preferred hotel on jetairways.com or jetkonnect.com. Guests can also avail this exciting offer and enjoy great savings by simply entering coupon code ‘JET5HOTELS’ on the ‘Traveler Information’ page. The offer is valid for bookings made on or before November 30, 2012 and is applicable on room charges exclusive of taxes.
Similarly, corporate travellers may book one night or two night group packages and avail discounts in any hotel offered by the Expedia Affiliate Network.
Air Arabia Q2 net profit at AED 226 mnAir Arabia Group, the first and largest low-cost carrier (LCC) in the Middle East and North Africa, announced today its financial results for the third quarter of 2012, demonstrating
its ability to deliver strong profits quarter after quarter.
For the three months ending September 30, 2012, Air Arabia reported a net profit of AED 226 million, an increase of 126 per cent as compared to AED 100 million in the corresponding period in 2011; reflecting the airline’s strong financial position and outstanding performance.
Beating analysts’ forecasts, the carrier’s turnover for the third quarter reached AED 836 million, an increase of 19 per cent compared to the same period last year, suggesting that the airline is well on track to achieve a remarkable year. Read more…
Maldivian Airlines becomes new A320 operator
Maldivian Airlines, the national carrier of the Maldives has become a new operator of Airbus single aisle aircraft, following the first commercial flight of an A320 on the inaugural flight from Male to Chennai. The aircraft, operated under a leasing agreement, is the first A320 Maldivian will fly to destinations in the Indian sub-continent.
The aircraft, which is powered by CFM56 engines, was previously handed over at Ibrahim Nasir International Airport, Maldives, in October 2012. Its interior has been specifically modified to accommodate a three-class configuration: 14 business, 18 premium and 120 economy seats.
“This entry into service of our first A320 is a great day for Maldivian and our passengers. This signifies the increasing expansion of Maldivian in the region,” commented Abdul Haris, Managing Director of Maldivian. “We will start our A320 operations with direct flights to Mumbai, Chennai and Dhaka, much-anticipated routes for our customers.” Read more…
Emirates Group H1 net profit at AED 2.1 bn
The Emirates Group announced its half yearly results which remain robust despite continued global economic pressure and continued high fuel prices. The Emirates Group posted a AED 2.1 bn (US$ 575 million) net profit for the first six months of its current fiscal year ending 30th September 2012, up 68 per cent from AED 1.3 billion (US$ 343 million) from 30th September 2011.
Despite fundamental challenges, the Group’s revenue and other operating income rose to AED 38.2 billion (US$ 10.4 billion) an increase of 16 per cent over the last year’s results. This constitutes the first time in the Group’s history that revenue surpassed the US$ 10 billion mark in a six month period. The Group’s cash position on 30th September 2012 remained strong at AED 15.2 billion (US$ 4.1 billion), compared to AED 17.6 billion (US$ 4.8 billion) as of March end 2012. The AED 2.4 billion difference in the cash balance is primarily resulting from a AED 2.0 billion Sukuk bond repayment in June 2012.
“The Emirates Group half-year performance is the result of hard work and our drive to stay on course and continue to grow despite the precarious marketplace,” said His Highness (HH) Sheikh Ahmed bin Saeed Al Maktoum, Chairman and Chief Executive, Emirates Airline and Group. “We have continued to invest in the infrastructure of both Emirates and dnata and it continues to pay off.” Read more…