Indian carriers are estimated to report a consolidated net loss of over USD 600 million (over Rs 4,230 crore) in 2019-20, according to aviation consultancy CAPA as it downgraded its full-year profitability projection made in June. In June, it projected a consolidated net profit of USD 500-700 million in the optimistic case.Currently, there are four budget carriers and two full service airlines -- IndiGo, GoAir, SpiceJet, AirAsia India, Vistara and Air India.In its quarterly market update report on aviation outlook FY2020, CAPA India said it is the "most significant downgrade within one quarter in more than 16 years".Close The carriers are anticipated to post a consolidated net loss of more than USD 600 million this financial year, as per projection at the end of November. related news Moneycontrol Ultimate Business Quiz #76: Test your knowledge AU Small Fin Bank raises Rs 525 cr from Temasek arm Camas Investments Pte Buzz everywhere, other than in my office: FM Nirmala … [Read more...] about Indian airlines likely to post loss of over $600 mn in FY20: Report
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Aviation stock prices gain 1-4% as domestic passenger traffic rises in November
Share prices of airline companies including Interglobe Aviation, Jet Airways, and SpiceJet gained 1 to 4 percent in the morning trade on December 13, a day after data showed an increase in domestic passenger traffic in the previous month.Though Jet Airways has been grounded after it went bust earlier this year, its stock was up around 4 percent.Domestic air passenger traffic rose 3.86 percent to 12.94 million in November, as airlines reported higher seat factor with the onset of the tourist season, data released by Directorate General of Civil Aviation (DGCA) shows.Close Twelve domestic carriers, including full-service airlines Air India and Vistara and budget carriers Indigo, SpiceJet, GoAir and AirAsia India, together flew 11.6 million passengers. related news ITDC jumps 9% on merger with Kumarakruppa Frontier Nifty Bank marches toward record high on likely resolution of 4 NPA cases in December BGR Energy share price locked in 20% upper circuit on Rs … [Read more...] about Aviation stock prices gain 1-4% as domestic passenger traffic rises in November
Cleartrip sees 15% growth in business this year despite slowdown in air passenger traffic
Online travel company Cleartrip has seen little impact on its business this year despite the slowdown in the aviation industry in India.Headquartered in Mumbai, the company which sees India market growing upwards of 20 percent, faced a difficult year, but still managed to clock about 10-15 percent growth, said company’s Senior Vice President, Balu Ramachandran.Talking to Moneycontrol, he said, “This year the company rolled out a bunch of tech-enabled industry-first initiatives.”Close Cleartrip launched Flexifly this year that lets travellers amend their travel schedule. Probably a step in the right direction as Ramachandran said that they saw more impulsive travellers on the platform this year as compared to the previous year. related news Buzz everywhere, other than in my office: FM Nirmala Sitharaman on GST rate increase reports TCS share price up 2.43% after Shapoorji Pallonji Group sells more shares in open market: Report Indian airlines likely to post … [Read more...] about Cleartrip sees 15% growth in business this year despite slowdown in air passenger traffic
SpiceJet grounds 3 cargo aircraft; shares stay in the green
SpiceJet share price stayed in the green in the morning trade on December 13 after the airline said it had grounded three of its Boeing 737 freighter aircraft on the advice of the Israeli Aerospace Industries (IAI)."During an internal examination of IAI’s manufacturing facilities, a potential defect was discovered in the process used to manufacture the 9G rigid barrier installed on these aircraft," the company said in a regulatory filing.The Israeli company was the one that converted the three 737 aircraft to freighters.Close SpiceJet said the aircraft will return to operations after regulatory clearance. related news ITDC jumps 9% on merger with Kumarakruppa Frontier Nifty Bank marches toward record high on likely resolution of 4 NPA cases in December BGR Energy share price locked in 20% upper circuit on Rs 4,442-cr order win Share prices of airline companies, including Interglobe Aviation and SpiceJet, rose a day after November data showed an increase in … [Read more...] about SpiceJet grounds 3 cargo aircraft; shares stay in the green
D-Street Buzz: PSU Bank, metal stocks shine led by SBI, Vedanta; Tata Motors up 3%, pharma drags
The Indian stock market is trading on a handsome note with Sensex jumping 307.99 points or 0.76 percent at 40889.70 while the Nifty gained 74.70 points and is trading at 12046.50.Nifty Metal is the outperforming sector, up 2 percent following news that the United States had reached a "deal in principle" with China to resolve a trade war that has rattled markets for nearly two years.Close The top gainers included Vedanta, Tata Steel, Hindalco Industries, Coal India, NALCO, SAIL, Hindustan Copper and Hindustan Zinc. related news BoB shares climb over 3% after share purchase agreement with Ansa Merchant Bank Mastek share price up 9% on stake sell in Majesco USA PSU Banks are also buzzing led by Oriental Bank of Commerce, Union Bank of India, State Bank of India, Syndicate Bank, Central Bank of India, Canara Bank, Bank of Baroda and Bank of India.Nifty Auto added a percent led by Tata Motors, Bharat Forge, Motherson Sumi Systems, Ashok Leyland, … [Read more...] about D-Street Buzz: PSU Bank, metal stocks shine led by SBI, Vedanta; Tata Motors up 3%, pharma drags
