SpiceJet, a low-cost carrier, recorded a 24 per cent decline in net profit, at Rs 181.1 crore, in the quarter-ended December, from Rs 239.9 crore in the year-ago period. The airline attributed the performance due to subdued demand due to demonetisation.
Category: Aviation & Airports
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GMR Infra posts Rs 382 crore Q3 loss
GMR Infrastructure has reported a standalone net loss of Rs 381.93 crore for the quarter ended December 2016. The company posted a net profit of Rs 40.01 crore in the corresponding quarter of the 2015-16, it said in a BSE filing.
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GMR Hyderabad Airport bags CAPA award
GMR Hyderabad International Airport, which operates the Rajiv Gandhi International Airport, has won the Centre for Asia Pacific Aviation (CAPA) ChairmanÂ’s Order of Merit for its focus on environmental sustainability and becoming the first airport in the Asia-Pacific region to become carbon neutral.
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Domestic air traffic to grow to 130 million in FY18 | CAPA
Domestic air traffic is expected to grow 25 per cent and cross 130 million in financial year 2017-18, but airlines will see bigger risks to profitability because of rising costs and yield pressures, aviation consultancy CAPA has said in its India outlook which it released recently.
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AirAsia India to commence international operations by mid-2018
AirAsia India is likely to commence international operations from the second half of the next calendar year, as it is expected to possess a fleet of 20 aircraft by mid-2018.
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CIDCO expects more participation in Navi Mumbai airport bid
CIDCO is “positive” that more firms would participate in the bid for the development of its ambitious Navi Mumbai International Airport project, according to a senior development authority official. Bids close on February 13 two extensions have already been given for the same.
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GMRÂ’s airport SEZ plea turned down
A proposal by the GMR Group for converting an aviation SEZ into a multi-product SEZ has been rejected by the Expert Appraisal Committee (EAC) under the Union Ministry of Environment, Forests and Climate Change
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The aviation regulator needs a complete revamp
The decision of the Government of India to spend $10 billion towards airport infrastructure development is a critical move. India is one the few nations in the globe which has recorded a year-on-year passenger growth of nearly 23 per cent.
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Flaws in civil aviation policy will be resolved over a period of time
The new civil aviation policy is aimed at creating an ecosystem of affordable flying for the masses as well as easing industry-related concerns which were long due. To do so, the policy has addressed issues from the regulatory, financial and operational perspectives in a comprehensive manner in three main areas
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Our carriers are comparatively inefficient and not aggressive
The new aviation policy has brought in a lot of forward-looking changes to boost the slumping aviation industry; these changes have been made to make the industry more dynamic and lucrative for all the players and to level the playing field. One of the major changes which have been welcomed by the smaller airlines is that, prior to the policy change, an airline needed to have 20 planes and five years of local operations to fly overseas.