Aviation

Commercial plane crashes in southern Iran, killing 66 people

TEHRAN, Iran — An Iranian commercial plane crashed on Sunday in a foggy, mountainous region of southern Iran, killing all 66 people on board, state media reported. An Aseman Airlines ATR-72, a twin-engine turboprop used for short-distance regional flying, went down near its destination of the southern Iranian city of Yasuj, some 780 kilometers (485 miles) south of the Iranian capital, Tehran. Aseman Airlines spokesman Mohammad Taghi Tabatabai told state TV that all on Flight No. 3704 were killed. The plane carried 60 passengers, including one child, and six crew members.

Due to foggy condition, rescue helicopters couldn’t reach the crash site in the Zagros Mountains, state TV reported. Tabatabai said the plane crashed into Mount Dena, which is about 440-meters (1,440-feet) tall. Aseman Airlines, owned by Iran’s civil service pension foundation, is a semi-private air carrier headquartered in Tehran that specializes in flights to remote airfields across the country. It also flies internationally.

The carrier has a fleet of 29 aircraft, including six ATR aircraft, according to FlightRadar24, a plane-tracking website. It is Iran’s third-largest airline by fleet size, behind state carrier Iran Air and Mahan Air. The Iranian Red Crescent said it has deployed to the area. Authorities said they would be investigating. Locals described hearing the crash, though no one had found the crash site yet, according to state TV.

European airplane manufacturer ATR, a Toulouse, France-based partnership of Airbus and Italy’s Leonardo S.p.A., said it had no immediate information about the crash. The manufacturer specializes in regional turboprop aircraft of 90 seats or less. Under decades of international sanctions, Iran’s commercial passenger aircraft fleet has aged, with air accidents occurring regularly in recent years.

Following the 2015 landmark nuclear deal with world powers, Iran signed deals with both Airbus and Boeing to buy scores of passenger planes worth tens of billions of dollars. U.S. politicians have expressed concern about the airplane sales to Iran. President Donald Trump remains skeptical of the atomic accord overall and has refused to re-certify it, putting the deal in question. Home to 80 million people, Iran represents one of the last untapped aviation markets in the world. However, Western analysts are skeptical that there is demand for so many jets or available financing for deals worth billions of dollars. In April 2017, ATR sealed a $536-million sale with Iran Air for at least 20 aircraft. Chicago-based Boeing also signed a $3 billion deal that month to sell 30 737 MAX aircraft to Aseman Airlines.

Courtesy : Associated Press

Aviation

No More Jet Airways. Supreme Court Says “No Choice”, Orders Liquidation

Jet Airways was once one of India’s leading airlines, known for its service and extensive network. Founded in 1993, it served millions of passengers, connecting cities across India and international destinations.

However, since grounding its flights in April 2019, Jet Airways has struggled to navigate financial turbulence, leading to years of efforts to revive the airline and return it to the skies.

On Thursday, the Supreme Court ordered the liquidation of Jet Airways, citing “no choice” but to take this decisive step after the resolution plan failed to meet creditor obligations. The court invoked its extraordinary powers under Article 142, which allows it to make orders for “complete justice” in any case, overriding previous tribunal rulings.

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The Jalan-Kalrock Consortium (JKC), which had won the bid to revive Jet, faced criticism for not fulfilling payment commitments to creditors, which included major banks like the State Bank of India and Punjab National Bank.

The Supreme Court’s ruling pointed to “peculiar and alarming” issues surrounding the resolution plan’s implementation, leading to its conclusion that liquidation was the only feasible outcome.

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Chief Justice DY Chandrachud, alongside Justices JB Pardiwala and Manoj Misra, emphasized that while liquidation should be a last resort, it was necessary as the resolution plan was “no longer capable of implementation.”

In line with this decision, the court ordered that the ₹200 crore already infused by JKC be forfeited and directed the National Company Law Appellate Tribunal (NCLAT) in Mumbai to appoint a liquidator to oversee the process.

JKC, a partnership between Murari Jalan, a UAE-based Indian entrepreneur, and Florian Fritsch, a Jet shareholder through Kalrock Capital Partners Limited, had taken ownership of Jet Airways two years after it was grounded. The consortium’s inability to fulfill its financial obligations has now led to this final verdict, marking the end of an era for Jet Airways in India.