Aviation
JET AIRWAYS IS COMING BACK as Creditors back plan to get India’s Jet Airways flying again
According to the Money control website The Kalrock Capital-Murari Jalan consortium winning the bid for Jet Airways as part of the resolution plan is just the beginning of many steps that are needed for the airline to re-start flying! While the news created buzz that this would be a second lease of life for the airline which suspended operations in April 2019, the road remains as tough as it has ever been…
The real question for the airline to get back will be money, planes and slots! With a debt of over Rs 8,000 crore – the first ask would be to restructure the debt and ensure that it is sustainable. Times have changed and even a cash-rich airline like IndiGo has resorted to sale and leaseback along with plans to raise money. Recovery is a few years away and while the 120 plus-aircraft airline couldn’t earn enough to service its debt obligations in the hay days, the going will be much tougher with a smaller fleet and challenging market condition.
Ashish Chhawchharia (Resolution Professional for Jet Airways) has given Notice to the Employees & Workmen of Jet Airways (India) Limited that
I am writing to communicate to you on the status of the corporate insolvency resolution
process (“CIRP”) of your beloved company- Jet Airways (India) Limited.
When I last communicated with you, the two (2) Resolution Plans were submitted for the
CoC members’ consideration on October 03, 2020 and following the provisions of the
Insolvency and Bankruptcy Code, 2016 (“IBC”), these Resolution Plans were put for
voting by the CoC members.
The voting lines closed on October 17, 2020 at 01.00 pm and the Resolution Plan
submitted by the Consortium of Mr. Murari Lal Jalan and Mr. Florian Fritsch (“JalanKalrock plan”) has been duly approved by the CoC under section 30(4) of the Code as
the successful resolution plan.
As next step, I will be filing an application in accordance with section 30(6) of the Code
for approval of the Jalan-Kalrock plan by the Hon’ble NCLT after some necessary
formalities are completed. As and when the resolution plan is approved by the NCLT, the
process of the implementation of the plan shall be initiated by the successful applicant.
We are now one important step closer to a successful resolution and to make Jet Airways
fly again!
I shall keep you posted on the progress.
Approval Notices Click here
View Document click here
Airlines
These are the four-star low-cost Carriers for 2024
In the rapidly evolving world of aviation, staying ahead of the curve and finding the most cost-effective options for air travel is crucial for both travelers and airlines alike. As we approach the year 2024, Apex, a renowned authority in the aviation industry, has released its highly anticipated list of four-star low-cost carriers.
The APEX Four Star Airline Awards were unique since they were created solely from verified passenger reviews submitted by more than a million fliers using TripIt.
These airlines have achieved a remarkable combination of price and great service, making them the top alternatives for budget-conscious travelers searching for a pleasant and joyful flying experience. In this article, we will look at the four-star low-cost airlines for 2024.
Global Passenger Choice airline Award Winners 2022 by Apex.(Opens in a new browser tab)
low-cost Airlines
- Allegiant
- Breeze
- GOL
- Southwest
- Spirit
- Sun Country Airlines
- WestJet
Airlines
These are the airlines with Four-Star and Five-Star APEX ratings for 2024.
In the ever-evolving world of aviation, these awards stand as a testament to excellence, innovation, and outstanding service within the airline industry. As travelers around the globe seek ever more personalized and remarkable experiences, these airlines have risen to the occasion, setting new standards for quality, comfort, and customer satisfaction.
World class airline awards 2022 by Apex(Opens in a new browser tab)
The APEX Five Star and Four Star Airline Awards were unique since they were created solely from verified passenger reviews submitted by more than a million fliers using TripIt.
Global Passenger Choice airline Award Winners 2022 by Apex.(Opens in a new browser tab)
Here, we’ve highlighted some of the 2024 Apex Four-Star and Five-Star Airlines Awards, recognizing these airline giants and the outstanding traveler experiences they provide. Whether you are a frequent traveler or only sometimes do so, these awards highlight the airlines who have changed the definition of what it means to fly in luxury and grace.
GLOBAL FIVE STAR
- Aeromexico
- Air Canada
- Air France
- Air New Zealand
- American Airlines
- ANA
- Austrian
- Cathay Pacific
- Delta Air Lines
- EL AL
- Etihad
- Eva Air
- Finnair
- LATAM Airlines
- Lufthansa
- Korean Air
- SAS
- Swiss
- United Airlines
- Vietnam Airlines
- Virgin Atlantic
MAJOR AIRLINES FIVE STAR
- Aer Lingus
- Air Astana
- Air Tahiti Nui
- Alaska Airlines
- Copa Airlines
- Fiji Airways
- Hawaiian Airlines
- Icelandair
- Oman Air
- Royal Brunei Airlines
REGIONAL AIRLINE FIVE STAR*
- JSX
GLOBAL AIRLINES FOUR STAR
- British Airways
- Ethiopian
- Polish Airlines
- Malaysia Airlines
- Pakistan International Airlines
- South African Airways
- Thai Airways International
MAJOR AIRLINES FOUR STAR
- Aegean Airlines
- AirEuropa
- Avianca
- flydubai
- Royal Jordanian
- SriLankan Airlines
Airlines
Qantas says cost to fly may rise, Due to Soaring Jet Fuel Prices
Qantas has been absorbing a $200 million increase in fuel costs, the airline warned that if prices continue to rise, the costs may be passed on to customers and it may raise its already high ticket rates.
The airline reported in a market update that fuel costs have gone up 30% since May of this year, including 10% just in the past month. “This is driven by a combination of higher oil prices, higher refiner margins, and a lower Australian dollar,” Qantas stated.
Boeing warns new defect on 787 Dreamliners will slow deliveries(Opens in a new browser tab)
But Qantas asserted that it will keep an eye on fuel costs in the upcoming months and “look to adjust its settings” if they continue to be this high. Any modifications would aim to strike a balance between the need for reasonably priced travel in a situation where tickets are already high, according to Qantas.
Qantas and competing airlines use methods of hedging to control erratic pricing changes. An effort to win back consumer support that included an apology from the airline’s new CEO, Vanessa Hudson, and a commitment to rebuild the airline’s reputation after a “humbling period” is in jeopardy as a result of the warning about ticket prices.
Analyst Owen Birrell with RBC Capital Markets predicted that the firm will likely accept the higher fuel costs “until its target margins come under pressure, and then would seek to claw back those costs through capacity cuts and higher fares.”
Given the increased competition, expanding consumer and corporate cost pressures, and incoming reinvestment in the product/platform, we don’t think a substantial earnings shift is possible going forward.
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