Spicejet

(Image credit: @nlasya/Twitter) Some passengers of a SpiceJet flight that landed at the Delhi airport on Saturday night walked on the tarmac as the bus that was supposed to carry them to the terminal was delayed. The airline, in its defence, said that there was only a brief delay in the arrival of the "coaches to ferry the passengers". SpiceJet said in a statement that some passengers began walking on the tarmac despite its staff urging them not do so. "They had barely walked a few meters when the coaches arrived. All passengers, including those who had started walking, travelled on the coaches to the terminal building," the airline was quoted as saying by T he Indian Express . But a passenger, in a Twitter thread about the incident, said she and the others were made to wait for the shuttle for an hour, without "explanation or reassurance". Close How often do you see this happening at T3 of the Indira Gandhi International Airport in New Delhi? … [Read more...] about SpiceJet passengers walk on Delhi airport tarmac because of shuttle bus delay. Airline’s response

Passengers flying with Alliance Air and SpiceJet have been victims of the most cancellations of domestic flights in India in the last six months, data from the Directorate General of Civil Aviation shows. Between January and June, Alliance Air cancelled 1.74 percent of its flights every month while SpiceJet scrubbed 0.86 percent of its scheduled flights, data shows. While SpiceJet cancelled around 700 scheduled flights in the last six months, Alliance Air did not operate around 280 scheduled flights in the same period, industry insiders said. Industry participants and market experts are of the view that in the case of Alliance Air, most flight cancellations were due to weather-related issues and limited navigational facilities available on the routes operated by it. “Alliance Air operates on a number of routes under UDAN (Ude Desh Ka Aam Nagrik, the government’s regional connectivity scheme) which are mostly sunrise to sunset stations with limited navigational facility and … [Read more...] about The Best and Worst Airlines for Flight Cancellations in India

Trade Watchlist Portfolio Message Set Alert live bse live nse live Volume Todays L/H More × City Union Bank shares gained 9 percent intraday on August 10, overcoming volatility in the market to hit a 9-month high after strong June quarter earnings and improved asset quality. The stock was trading at Rs 175.25 on the BSE, up 7.65 percent with robust volumes at the time of writing. It formed a large bullish candle on the daily charts and hit an intraday high of Rs 176.95, the highest level since October 27, 2021. The stock also decisively broke the long down sloping resistance trendline, adjoining November 17, 2020 and October 26, 2021. The private sector lender on August 9 reported a 30 percent year-on-year growth in profit at Rs 225 crore for the quarter ended June 30, 2022, aided by healthy pre-provision operating profit, & other income, and declining provisions for bad … [Read more...] about City Union Bank hits 9-month high on strong June quarter earnings

Rakesh Jhunjhunwala Akasa Air is a frugal airline and will be very competitive in the aviation space, ace investor Rakesh Jhunjhunwala said on August 8, a day after the Mumbai-based company launched commercial operations. Billionaire Jhunjhunwala, also known as "India's Warren Buffett", expressed confidence in the future of India's aviation sector. "Our competitors are ordering new chairs in response to Akasa's chair," he told CNBC TV-18 in an exclusive interaction. Akasa will be competing with the likes of IndiGo and SpiceJet for a share of India’s fast-growing domestic air travel market. There will be a lot more flying as discretionary spending per capita goes up, he added. Jhunjhunwala also cited civil aviation minister Jyotiraditya Scindia's prediction that India expects to reach 40 crore air travellers in the next four years. Crediting the surge in the number of flyers, the 62-year-old noted that India's aircraft fleet size requirement will almost double by 2027 … [Read more...] about Rakesh Jhunjhunwala says Akasa Air is a frugal airline

Rakesh Jhunjhunwala India’s newest budget airline Akasa Air, backed by ace investor Rakesh Jhunjhunwala , is up and flying. Aviation Minister Jyotiraditya Scindia on August 8 flagged off Akasa Air's first commercial flight that departed from Mumbai for Ahmedabad. Billionaire Jhunjhunwala , also known as "India's Warren Buffett", has teamed up with former chief executives of IndiGo and Jet Airways to tap into the growing domestic air travel in India. Akasa Air received scores of wishes for a successful run but India's aviation climate looks a bit challenging. Jet fuel prices are sky high and the industry is still recovering from the coronavirus blow. The global economic situation is hardly a comfort, as recession fears mount as the Russia-Ukraine war enters its sixth month with little signs of a breakthrough. The breakdown of already tense ties between the US and China, the world’s two biggest economies, over Taiwan couldn’t come at a worse time. Close … [Read more...] about Rakesh Jhunjhunwala: I’m prepared for Akasa’s failure

The Directorate General of Civil Aviation has decided to remove the ongoing fare caps on the tickets of domestic airlines from August 31. "After review of the current status of Scheduled Domestic Operations viz-a-viz passenger demand for air travel in terms of the purpose specified in the initial Order No. 02/2020 dated 21.05.2020, it has been decided to remove the fare bands notified from time to time regarding airfares with effect from 31.08.2022," the DGCA said in a notification. The government had June started discussions with airlines about the removal of price bands for passenger fares. The talks started after some airlines renewed their demand to remove the pricing caps, claiming the regulation is a hurdle to the full-fledged recovery in domestic air traffic. In May, aviation minister Jyotiraditya Scindia had said that fare capping was necessary to protect passengers from being charged exorbitant fares. "I have an environment where ATF prices are still very high, I … [Read more...] about DGCA removes fare caps on tickets of domestic flights from August 31

The research firm ICICI Securities believes earnings of apparel brands and retail companies under their coverage may surprise positively from Q3FY22E as the likely demand recovery may result in better than expected margin performance. Some of the costs savings achieved during pandemic may sustain and coupled with high operating leverage may lead to higher than pre-covid margins from Q3FY22E.  Stocks like Trent, V-Mart and Aditya Birla Fashion and Retail are the preferred picks backed by their strong and consistent track record of execution. Trade Watchlist Portfolio Message Set Alert live bse live nse live Volume Todays L/H More × Prabhudas Lilladher's research report on City Union Bank CUBK saw yet another a strong quarter with core earnings at Rs2.0bn beating estimates by 7.5% led by better NII and stronger AUCA recoveries. Stressed expsoure at ~Rs45bn is performing … [Read more...] about Buy City Union Bank; target of Rs 190: Prabhudas Lilladher