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SpiceJet to get $61 million infusion from top shareholder

SpiceJSpiceJet reaches a settlement for $91 million liabilities with EDCet reaches a settlement for $91 million liabilities with EDC

SpiceJet, an Indian low-cost airline, announced on Wednesday that its largest stakeholder Ajay Singh would invest USD 60.85 million in the company as it seeks to resume full operations.

With a quarter of its fleet grounded due to a run of disappointing quarterly results and intense competition in the market, SpiceJet has been urgently trying to raise money and get the remainder of its fleet back in the air. The infusion of cash also occurs at a time when inexpensive Indian airlines are attempting to fill the gap left by crisis-hit rival Go First.

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China Southern to raise over $2.8 billion to fund new aircraft purchase(Opens in a new browser tab)

According to SpiceJet, Singh will have preference when receiving shares, convertible securities, or share warrants. Through the agreement, the airline would also have access to additional financial facilities totaling Rs. 206 crore through the government’s emergency credit line guarantee programme. According to exchange records, Singh, who is also SpiceJet’s managing director, owns a share in the firm worth 50.6%.

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In a press release, Singh stated that the investment “will enable the airline to accelerate its growth plans and capture new opportunities in the market, grow its revenue and profits.” SpiceJet announced plans to issue securities in order to generate $300 million in new capital in February of this year. It changed a debt of around $100 million USD into equity for an aircraft lessor.

Embraer Projects Demand for 1,020 New Deliveries in 70 to 130-Seat Segment in China(Opens in a new browser tab)

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Additionally, SpiceJet is fighting against several lessors who want to deregister the airline’s planes and file for bankruptcy. It is also engaged in a legal battle with a former investor over unpaid debts of USD 46 million. Media sources from late Tuesday stated that India’s aviation body had “enhanced surveillance” of the carrier. The airline claimed that it had not received any such correspondence from the authority. Shares of SpiceJet have fallen almost 20% so far this year, while IndiGo, a competitor, has increased by 36%.

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Airlines

LOT Polish Airlines Boosts Fleet with Arrival of Three Embraer E195-E2 Jets

LOT Polish Airlines Boosts Fleet with Arrival of Three Embraer E195-E2 Jets

In order to improve operational flexibility and support network development, LOT Polish Airlines plans to add the Embraer E195-E2 to its fleet.

With the addition of the 25% more efficient E2 to their fleet, LOT will lease three new E195-E2 from Azorra, demonstrating their continued commitment to sustainable growth. This year, the first jet will arrive by the end of July, and all aircraft deliveries will be finished by October.

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As the airline’s network expands, LOT needs a flexible solution to meet its capacity needs. In addition to providing passengers with an unparalleled flying experience without middle seats, the E2 enables LOT’s current E-Jet first generation flight crews to seamlessly transfer over a matter of days.

Additionally flexible, the new E2s match LOT’s larger narrow body aircraft with comparable seat prices. The airline plans to set up E195-E2, which can accommodate up to 146 passengers, in a cosy single class configuration with 136 seats.

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The remarkable success of Embraer’s new aircraft family began with the 85-minute, 520-kilometer trip to Vienna; the 1800th E-Jet in the programme, an E190-E2, was just delivered to a customer in the Middle East.

LOT is one of the biggest E-jet operators in Europe with a fleet of 43 aircraft as of right now. Over 1.4 million flight hours, 850 million kilometres, and over 60 million passengers—nearly double Poland’s population—have been transported by LOT’s E-jet fleet to date.

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Qatar Airways Flight Encounters Severe Turbulence Over Somalia

Qatar Airways Flight Encounters Severe Turbulence Over Somalia

A routine flight from Doha to Mount Kilimanjaro turned harrowing for passengers aboard Qatar Airways Flight QR1499, as the aircraft encountered severe turbulence over Somalia due to adverse weather conditions.

The incident, which unfolded on Friday, left the aircraft, an Airbus A330-200 leased from Oman Air, with internal damages and passengers shaken.

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An Airbus A330-200 (A4O-DA), which is presently leased from Oman Air, was used for the flight. The aircraft is still at Kilimanjaro International Airport, as per FlightAware, however the flight from Kilimanjaro International Airport (JRO) to Dar es Salaam (DAR) did not continue after the incident.

Images of the inside show damaged ceiling panels and lights, which are usually the consequence of turbulence causing passengers and service objects to fall into the ceiling.

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Surprisingly, the Kenyan airports authority says that this never took place. I haven’t seen that reported online, even though they clearly deny the claim that the plane touched down in Nairobi.

According to flight tracking, the aircraft carried on to Dar es Salaam before returning to Doha later that day. It doesn’t seem like anyone was too seriously hurt in this incident, even though the cabin sustained significant damage.

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The incident should serve as yet another timely reminder for passengers to always wear their seatbelts when sitting, even if the seat belt signs were activated at the time owing to the predicted adverse conditions in the area.

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Riyadh Air Initiates Talks with Airbus and Boeing for New order

Riyadh Air Initiates Talks with Airbus and Boeing for New order
Image:Jetline marvel

Riyadh Air, Saudi Arabia’s emerging second flag carrier, is poised for a significant expansion as it sets its sights on bolstering its fleet to commence operations by the summer of 2025.

Reports indicate that the airline is currently engaged in advanced discussions with aerospace giants Boeing and Airbus to finalize a substantial order of wide-body aircraft, marking a crucial step in its journey towards becoming a prominent player in the aviation industry.

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CEO Tony Douglas revealed that Riyadh Air is on the verge of clinching a deal for additional narrow-body aircraft, with an announcement expected in the near future. This move underscores the airline’s strategic commitment to fortify its fleet capacity in preparation for an ambitious network expansion.

The imminent narrow-body order complements Riyadh Air’s recently completed acquisition of narrow-body jets, the details of which are set to be disclosed in the coming months. Riyadh Air’s expansion strategy aligns seamlessly with Saudi Arabia’s Vision 2030 initiative, aimed at revitalizing the nation’s aviation sector and fostering increased international tourism.

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With plans to connect the capital city with over 100 destinations by the end of the decade, Riyadh Air envisions rapid growth, targeting a fleet of more than 200 aircraft within the initial five years of operation.

Notably, Riyadh Air’s endeavors come under the auspices of Saudi Arabia’s Public Investment Fund, signaling strong government support for the airline’s ambitions. However, amidst the backdrop of robust demand for aircraft and supply chain challenges plaguing both Airbus and Boeing.

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Douglas emphasized the imperative of timely jet deliveries to ensure Riyadh Air’s successful debut in the competitive aviation landscape. Both Airbus and Boeing find themselves grappling with production constraints amid burgeoning demand, underscoring the urgency for Riyadh Air to secure its fleet on schedule.

As the airline prepares to take flight, these negotiations epitomize Riyadh Air’s determination to surmount industry challenges and carve out a prominent presence in the global aviation arena.

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