Airlines

SpiceJet to get $61 million infusion from top shareholder

Airbus A340s Join SpiceJet Fleet for Delhi-Bangkok Flights, Replacing Boeing 737s

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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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%.

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.

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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

Air India Rolls Out A350s for Delhi-New York JFK and Newark Routes

In a major development for North American travelers, Air India has announced the deployment of its state-of-the-art Airbus A350-900 aircraft on two key routes: Delhi to New York and Delhi to Newark.

The service on the Delhi-New York route will commence on November 1, 2024, while the Delhi-Newark route will see its inaugural flight on January 2, 2025.

The introduction of the air india a350 will bring significant enhancements to Air India’s offerings, particularly with the launch of its Premium Economy class. air india retrofit This new class will feature 24 wide seats arranged in a 2-4-2 configuration, providing passengers with extra legroom and a more comfortable flying experience.

Soon, Air India aircraft will feature onboard WiFi & all-new cabins: Click here

“We are encouraged by the positive guest feedback we have received from the domestic deployment of our air india a350 interior to offer our hero product on the Delhi-New York JFK and Delhi-Newark routes. This is a significant leap forward for our U.S. operations that also underscores our commitment to continuous improvement,” said Campbell Wilson, Chief Executive Officer & Managing Director of Air India.

The A350’s Business class will set new standards with 28 private suites, each equipped with full-flat beds, direct aisle access, and personal wardrobes. Economy class will be configured to accommodate 264 passengers in a 3-4-3 layout. Across all cabins, passengers will enjoy the latest Panasonic eX3 in-flight entertainment system, offering over 2,200 hours of content.

Air India’s First A350-900: Interior, Routes, &Inflight Features: Click here

This strategic deployment marks a notable enhancement in Air India’s U.S. operations, with 60% of its flights to the U.S. now featuring new or upgraded cabin interiors. The air india new international routes currently operates 51 weekly flights to five U.S. destinations: New York JFK, Newark, Washington DC, Chicago, and San Francisco.

The revamped cabins, advanced in-flight entertainment systems, and improved service standards represent air india wifi commitment to providing a superior travel experience. “We believe this enhanced offering will solidify Air India’s position as a leading carrier and attract travellers seeking a world-class flying experience between India and the United States,” the airline stated.

Seats on these flights are now available for booking on Air India’s website, mobile app, and through travel agents, ensuring that passengers can easily plan their journeys on these newly upgraded routes.