Aviation

Iberia takes delivery of its first A350-900

Iberia boosts its flight offer in Latin America and United states

Toulouse, 26th June 2018 – Iberia, Spain’s flag carrier and a founding member of the IAG’s group of airlines, has taken delivery of its first of 16 A350 XWB on order, becoming the 18th airline to operate the world’s newest and most efficient twin engine widebody.

The aircraft is the first A350-900 to feature the latest performance improvement package including a wing twist, extended winglets and increased maximum take-off weight capability, delivering unrivalled performance across Iberia’s network. The aircraft is configured in a Premium three-class layout, with 348 seats, including 31 full lie-flat bed business, 24 Premium economy and 293 economy seats.

The A350-900 will join Iberia’s all Airbus fleet comprising more than 100 aircraft (including Iberia Express), allowing them to leverage the full benefit of Airbus’ unique aircraft family commonality.

In order to reduce its carbon footprint, the A350 delivery flight from Toulouse to Madrid is fuelled with a blend of sustainable jet fuel.

The A350 XWB features the latest aerodynamic design, carbon fibre fuselage and wings, plus new fuel-efficient Rolls-Royce Trent XWB engines. Together, these latest technologies translate into unrivalled levels of operational efficiency, with a 25 percent reduction in fuel burn and emissions, and significantly lower maintenance costs. As the founding member of “Airspace by Airbus” cabin brand, the A350 XWB cabin provides passengers and crews the best in comfort, well-being and technology.

To date, Airbus has recorded 847 firm orders for the A350 XWB from 44 customers worldwide, already making it one of the most successful widebody aircraft ever.

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.