SpiceJet announces pay cuts of 10% to 30%
In a bid to tide over the unprecedented crisis because of the Covid-19 pandemic, SpiceJet announced a company-wide pay cut. However, employees in the “lowest pay grades” would remain unaffected.
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Tata group commits ₹1,500 crore to fight Covid-19
Many other corporate houses like Bajaj, JSW, L&T, ITC and even the BCCI have pledged resources to combat the pandemic and alleviate the hardships faced by the poor.
Indian airlines brace for billion-dollar losses
Consultancy firm CAPA India says the impact of Covid-19 on air travel could possibly lead to a structural reset of the aviation industry, which could incur losses of $3.3 bn to $3.6 bn in Q1FY21.
Sanjiv Kapoor resigns as Vistara COO
Chief strategy officer Vinod Kannan, a Singapore Airlines veteran, will take over from Kapoor.
SpiceJet reports a profit of ₹261.7 crore
The budget airline has recognised expenses in aircraft lease rentals of ₹114.1 crore as ‘other income’, which has helped it achieve its highest-ever quarterly profit.
After record Q1 profit, IndiGo braces for a weak Q2
Given that all airlines in India have replaced the capacity vacated by Jet Airways, a low-fare environment has set into the crucial 0-15 day booking period which would add pressure on revenues
Domestic passenger traffic rebounds in May
India’s aviation sector reported a modest 2.8% YoY growth in passenger traffic in May, as Indian airlines added capacity led by budget-airline SpiceJet.
Jet Airways in search of a new flight path
Apart from the billions of dollars needed to resurrect the beleaguered airline, its re-entry into the low-cost carrier-dominated Indian aviation market is viewed with scepticism.
Jet Airways: One man’s pain is another’s gain
The last two trading days saw Jet Airways’ stock plummet, while that of its competitors—SpiceJet and IndiGo—touched a 52-week high on Thursday.
Tata Group’s moment of reckoning in the skies
Five years after it made its formal return to aviation, Tata Group finds itself facing a conundrum. Does it choose a complex merger with Jet Airways or be patient and grow organically?
