Entries in the ‘Aviation’ Category:

Spicejet to become Sun airways

Is it possible . Why not ? Spicejet could be renamed to Sun Airways or Sun Airlines . This is not ano fficial press release. This is my guess.

Kalanithi Maran has purchased 37% stake in spice jet . Here is the press release from economic times .

NEW DELHI: Media magnate Kalanithi Maran today entered into an agreement to acquire 37.7 per cent equity in low-cost airline SpiceJet for an estimated Rs 750 crore, thus becoming its single largest stakeholder.

The stake has been acquired by Maran, Chairman and MD of Chennai-based Sun TV Network, in his individual capacity and through his aviation company KAL Airways,

The shares have been acquired from current SpiceJet promoters, American investor Wilbur Ross and his investment companies, and Kansagara family-promoted Royal Holding Services Ltd. The deal is said to have been reached after several rounds of intense negotiations.

While it could not be ascertained the price at which the deal was struck, sources said Maran bought the 37.7 per cent stake at a price of around Rs 48 per share, entailing a total payout of about Rs 750 crore.

According to sources, the mandatory open offer to acquire an additional 20 per cent stake in Spicejet will be around Rs 58 per share.

As on March 31, 2010, public shareholding in SpiceJet stood at 87.15 per cent including 34.28 per cent held by institutional investors from India and abroad.

Reliance Industries buying Deccan 360

Reliance Industries is buying a stake in Deccan 360 . I came across this article in economictimes.

Here is the article.

Indian energy major Reliance Industries is set to buy a stake in freight services firm Deccan 360, three sources with knowledge of the deal said on Friday.

Further details were not immediately available. Reliance is expected to make an annoucement later on Friday.

Indigo Airlines IPO

I came across an article in Moneycontrol today. Its about the IPO from Indigo Airlines. Not sure how far its true.

Low cost carrier Indigo Airlines is all set to go public and may well issue one of the largest size IPO in the domestic aviation space. The company is plans to raise Rs 1,500 crore through the IPO by the end of this calendar year and has appointed some bankers like Morgan Stanley, UBS and Credit Suisse and Citi. The promoters are likely to remain majority shareholders.

Indigo’s net profit for FY 2009-10 stands at around Rs 400 crore. The company also has plans to induct nine more aircraft this year & 10 more aircraft next year.

IGI Airport Delhi stops for 3rd day

Fog plays again for IGI Delhi

News article:

Dense fog enveloped the IGI Airport for the third consecutive day on Saturday morning disrupting the schedules of around 25 domestic

and international flights and causing inconvenience to hundreds of passengers.

About 12 domestic flights and 11 arriving and departing international flights were delayed by over two to three hours, two international flights were rescheduled while one inbound flight from Abu Dhabi had to be diverted.

Flight operations on Friday night remained normal. Runway visibility hovered around 125 metres and above, forcing airport authorities to implement low visibility procedures. The runway visibility dropped to a low of 75 metres around 6 am while general visibility remained below 50 metres.

Kingfisher Airlines to raise 500 crores

Kingfisher Airlines board on Monday approved an enabling resolution to raise $100 million (nearly Rs 487.8 crore) by various fund raising instruments.

The board of directors of the company have approved that the funds be raised through various instruments including Global Depository Receipts, Kingfisher Airlines said in a filing to the Bombay Stock Exchange [ Images ].

The proposal is subject to shareholders’ approval, the filing added.

This is in addition to the decision for induction of capital for an amount not exceeding Rs 500 crore (Rs 5 billion) by a rights issue of equity shares taken at the last board meeting held on July 28.

Further, the board has also approved to raise the authorised share capital of the company to Rs 1,000 crore (Rs 10 billion) from Rs 500 crore (Rs 5 billion), subjected to shareholders approval, the filing added.

Jet Airways plane skids off runway in Dhaka

A Delhi-bound Jet Airways aircraft carrying 139 persons skidded off a runway just before its take off from the Bangladesh capital today
but no one was hurt in the accident.

The Boeing-737 aircraft of India’s private Jet Airways skidded the runway by over three meters at Dhaka’s Zia International Airport just ahead of its take-off.

However, all 139 persons onboard the aircraft were safe, officials said here.

“The aircraft skidded off the runway just before take-off but there was no incident of casualty and all passengers and crew are safe,” Bangladesh Civil Aviation Authority Chairman Air Commodore Saked Iqbal Khan Majlis said.

He said the passengers were immediately evacuated from the aircraft while an airforce contingent joined the rescue operation along with civil aviation workers of Biman Bangladesh Airlines and Jet airways Engineers.

“It may take another four hours to salvage the aircraft,” Majlis said.

Airport officials said all scheduled foreign and local flights were suspended following the accident and an investigation was ordered immediately.

The incident happened at around 10.40 a m local time (10.10 am IST).

Now, IDBI mulls $1 billion bailout for AI

Now, IDBI mulls $1 billion bailout for AI

In what can be a first aviation funding in India, IDBI might step in to provide funds worth $1 billion to Air India – much needed for the airline to replace its old aircraft fleet plying on the domestic route.

Lufthansa 2008 net profit falls 64% on low traffic

Lufthansa 2008 net profit falls 64% on low traffic

German flag carrier Lufthansa said on Wednesday its 2008 net profit fell 64 per cent to 599 million euros ($760 million) and that it expected a further drop this year.

SpiceJet soars on reports of merger talks

SpiceJet soars on reports of merger talks

Shares of low-cost airline SpiceJet on Monday soared by over nine per cent on reports that the company was in talks for a possible merger with Jeh Wadia-led rival carrier GoAir.

PSU oil cos slash ATF prices by 7%

PSU oil cos slash ATF prices by 7%

State-run fuel retailers on Saturday slashed jet fuel or ATF rates by a further seven per cent, making it the 11th reduction since September last year.

Delhi airport’s new departure terminal to be operational soon

Delhi airport’s new departure terminal to be operational soon

Slowly but surely, the transformation of the Delhi airport is on. The new departure terminal at the Delhi airport is ready and even though it is an interim arrangement, till the integrated terminal is ready by 2010, the new terminal would come as a big relief to passengers using the present congested facility.

No talks with Reliance for stake sale: Jet Airways

No talks with Reliance for stake sale: Jet Airways

Country’s largest private carrier Jet Airways on Tuesday denied media reports that the company is talking to Mukesh Ambani-led Reliance Industries for selling stake in the airline.

Air Canada axes 2,000 jobs, flights to cut costs

Air Canada axes 2,000 jobs, flights to cut costs

Air Canada on Tuesday announced it would axe 2,000 jobs this year to meet the rising fuel costs.

Air India to mark starting of new Bangaluru Intl airport

Air India to mark starting of new Bangaluru Intl airport

An Air India flight from Bangaluru to Singapore would mark the starting of the operations of the new Bangaluru international airport past midnight on Saturday.

Singapore Airlines cuts flights amid recession

Singapore Airlines cuts flights amid recession

Singapore Airlines said it plans to cut flights to the US, Europe and Asia which includes New Delhi, Mumbai and Hyderabad as a global economic slowdown bites into consumer demand.