In a bold move national carrier Air India has put errant employees and vendors who delay flights on notice. The airline will deduct salaries of employees and caterers found responsible for delays of flights. The Maharaja which has one of the worst one-time performance (OTP) records amongst Indian carriers, has been instructed by the top bureaucrat in the civil aviation …
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Based on the statement of the Indian Minister of State for civil aviation to the Indian parliament we have produced this graph showing the expenses of Air India for the fiscal year that ended March 31, 2014. Total expenditure for the year 2013-14 was Rs 25,050.60 crores (approximately $ 4.04 billion) against a total passenger revenue of Rs 15,551.79 and …
Read More »US airframer Boeing reported its deliveries for the second quarter (April to June) 2014. The manufacturer reported at 12.5% increase in its commercial aircraft deliveries driven by a 66% increase in deliveries of its newest aircraft, the 787 Dreamliner, compared to the first quarter of this year. The narrow-body 737NG family also yielded gains. Defence programs maintained a level keel. …
Read More »As per a report in The Economic Times, national carrier Air India has missed its financial performance targets by a huge margin. The airline agreed to these targets with the government in order to receive a whopping Rs.30,000 crore ($6 billion at the time) tax-payer funded bailout. The national carrier already saddled with debts exceeding Rs.40,000 crore ($6.8 billion) has …
Read More »Gurgaon-based budget carrier SpiceJet Ltd., announced an annual loss of Rs. 1,003 crore for fiscal year ending on March 31, 2014. This is the biggest loss in the carrier’s history and represents a five fold increase compared to Rs. 191 crore loss reported last year. Loss for the fourth quarter was Rs. 321 crore up from a loss of Rs. …
Read More »The largest of the middle east big 3 (MEB3) airlines, Dubai-based Emirates recorded a massive 43% increase in annual profits as it reaped the benefits of a significant expansion of its route network and induction of new aircraft. The airline recorded an annual profit of 3.3 billion dirhams (US$ 887 million) at a margin of 3.9% on a record annual …
Read More »Driven by a 23 percent increase in operations earning in its commercial aircraft segment, the Boeing Company (NYSE: BA) reported first-quarter revenue increased eight percent to $20.5 billion (Table 1). Highlights of the results are Core EPS (non-GAAP)* of $1.76 on continued strong operating performance; GAAP EPS of $1.28 Revenue increased 8 percent to $20.5 billion reflecting higher commercial deliveries …
Read More »US aerospace major, Boeing has reported its deliveries for the first quarter of 2014 Major Programs 1st Qtr 2014 Year-to-Date 2014 Commercial airplanes 737 Next Generation 115 115 747 4 4 767 – – 777 24 24 787 18 18 Total commercial airplanes 161 161 Defense, Space & Security AEW&C 1 1 Apache (New Builds) 10 10 Chinook (New Builds) 17 17 …
Read More »Earlier this week, low cost carrier SpiceJet reported its latest round of disappointing financial results, reporting a Rs. 172.80 crore net loss for the third quarter of fiscal year 2013~2014 (3Q FY14), swinging from a net profit of Rs. 102.01 crore during the same period last year. The carrier blamed high fuel prices and rupee depreciation for the net loss, …
Read More »Last week, Mumbai based full service carrier Jet Airways announced that it had recorded a net loss of Rs. 267.89 Crore for the third quarter of fiscal year 2013/14 (FY13/14) or a net pre-tax loss of Rs. 27.12 per diluted share. The result reflects a reversal from a Rs. 85.0 Crore net pretax profit of Rs. 91.78 Crore (Rs. 9.85 …
Read More »India’s largest private airline, Jet Airways group, has reported its fourth successive loss, this time of Rs. 267.89 crore in the third quarter of fiscal 2013~2014, which ended December 31, 2013. The airline made a meagre profit of Rs. 0.85 crore exactly a year ago in the third quarter of fiscal 2012~2013. While this is in line with what analysts …
Read More »by Devesh Agarwal Emirates A380. Photo copyright Devesh Agarwal. The Emirates Group, the aviation holding company of the Al Maktoum family which rules Dubai, and the parent of Emirates airline, announced its first half (April to September) results of the fiscal year 2014 (ending March 31, 2014) today. Group The Emirates Group revenues reached AED 42.3 billion (US$ 11.5 billion) …
Read More »by Devesh Agarwal Gurgaon based low fare carrier SpiceJet Ltd., continued the record of disastrous performance in the Indian airline industry when it announced a record Rs. 559 crore loss for the second quarter, ended September 30, of the fiscal year 2013~2014. This compared to the Rs. 163.5 crore loss from the same quarter last fiscal, and a Rs. 50.5 …
Read More »Japan Airlines Group (JAL) today announced revisions made to its flight frequency and fleet plans for the remaining of fiscal year 2013(ending March 31, 2014). In regards to the airline’s domestic network, flight frequencies on select routes will be adjusted to better meet demand as well as the changes in customer travel patterns including seasonal travel patterns in order to …
Read More »by Vinay Bhaskara and Devesh Agarwal Earlier this week, Mumbai based Jet Airways announced a net post-tax loss of Rs. 355.4 Crore (US $ 59.8 million) for the first quarter of Fiscal Year 2014, reversing from a Rs. 24.7 Crore net profit during the same period a year prior. Total revenues declined a whopping 12.3% to Rs. 4, 064.4 Crore …
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