18 Feb 2019

India Aviation Industry Newsletter 18 February

Cathay Pacific to operate Boeing 777-300ER on Indian routes over summer 2019 Routesonline reported 15 February Cathay Pacific plans to operate Boeing 777-300ER on Indian routes over summer 2019 from Hong Kong to Chennai, Delhi and Mumbai. Indian airline sector to shrink losses by two-thirds next year-CAPA India India's airlines are poised to cut their cumulative losses by as much as two-thirds in the financial year starting in April due to a more stable oil price, with low-cost carriers returning to profitability said CAPA India. CAPA India CEO Kapil Kaul said "The opportunity exists to create a sustainable, profitable future within 1-2 years. This will drive serious investor interest given the size of the market." IndiGo 'determined' to commence service to China in 2019 IndiGo will begin services from India to China this year, Willy Boulter, Chief Commercial Officer, IndiGo, said on China is a major opportunity that India is missing. He said “We are determined to operate to China". The airline plans to operate 14 flights between India and China. 47 flights between India and China of which 42 flights are operated by Chinese airlines while Indian carriers operate 5 weekly flight. Jet Airways' board considers and approves bank led provisional resolution plan Jet Airways' Board 14 February considered and approved a Bank led Provisional Resolution Plan (BLPRP). The BLPRP proposes restructuring under the provisions of the "RBI Circular" in order to meet a funding gap of nearly INR 8500 crores which is to be met by an appropriate mix of equity infusion, debt restructuring, sale/ sale and lease back/ refinancing of aircraft, among other things. Vinay Dube, CEO, Jet Airways said, "We are indebted to our employees who, despite our interim challenges, have worked tirelessly to ensure the highest levels of operational reliability and customer services for our guests, in line with our core values. We are also grateful to our guests for their continued support and words of encouragement which have been a source of inspiration and strength for us." "Jet Airways continues to make steady progress on its operational and financial turnaround and with today's approval of the Bank led Provisional Resolution Plan by the Board of Directors of the Company, we remain confident of delivering a more strategic, efficient and financially viable airline." Singapore Airlines To Fly Airbus A350 From Bengaluru From 18 May Singapore Airlines is to launch an new Airbus A350-900 service between Bengaluru and Singapore thrice a week from 18 May featuring 40 business class and 263 economy class seats. Turkish Airlines to code-share with IndiGo for select domestic destinations in India Turkish Airlines is set to enter into a code-share agreement with IndiGo on select domestic destinations. Ibrahim Hakki Guntay, General Manager, Western & Southern India, Turkish Airlines said,“This code-share assumes significance because this is the first ever agreement for IndiGo. Furthermore, the carrier has an extensive network of destinations in India and also enjoys a leadership position. On the other hand, flying to more than 300 destinations through 124 countries, Turkish Airlines will be offering its wide global network and services to passengers to and from India, thus, both airlines will benefit from this partnership.” Acumen Aviation © 18 February 2019 All Rights Reserved.