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Analysis and Features

Pictures: Aero India 2019 opens with missing man flypast, B-52, A330neo and more

Aero India 2019 opened today at Yelahanka Air Force Station. The show which was inaugurated by the defence minister of India began with a series of flypasts, one of which was a missing man formation to commemorate Wing Commander Sahil Gandhi, the pilot who lost his life in the Surya Kiran crash yesterday. Innugural Flypast The show began with a …

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An overview of India’s commercial aviation fleet and orders – 2019

View of part of the ramp at Bangalore Airport at night.

Indian aviation is on a growth track with the commercial aviation fleet set to double in the next five to eight years. This is reflected in the statistic that for each aircraft flying there are approximately 1.7 aircraft on order. India is poised to become the 3rd largest aviation market by 2030. Highlights of the fleet are presented below. 638 …

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The Airbus 380: operations and outlook

Singapore Airlines A380-800 9V-SKD. Image copyright Devesh Agarwal

The Airbus 380, the world’s largest passenger aircraft, entered commercial service in 2007 with launch customer Singapore Airlines. With a maximum takeoff weight of 575 tonnes (almost eight times the weight of an Airbus A320) and average seating of 575 passengers (800+ in high density configurations) Airbus built the A380 on the premise of slot-constrained airports needing a ultra-high capacity …

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Indigo Q3FY19 results analysis: the fare wars have just begun

Indigo Airbus A320neo VT-ITK. Image copyright Vedant Agarwal.

Indigo Airlines reported its third-quarter results this Wednesday. While the results showed an improving trend compared to the last two quarters with a profit figure of 190 crores, overall the results highlight the core challenges in the Indian market. Key numbers fr Indigo’s third-quarter results: Revenue from Operations: 7916 crores Operating cost: 8038 crores EBITDAR: 1681 crores Net profit: 190 …

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Analysis: Europe’s largest regional airline to be sold

Flybe Embraer 195 G-FBEJ. Photo by Mark Harkin.

Flybe, Europe’s largest regional carrier which flies 53% of all fights within mainland Britain (excluding London) and also the largest scheduled airline by air traffic movements at 13 UK airports, recently announced a sale to a consortium. This in part is driven by the uncertainty emanating from Brexit and also other structural issues. Overview of Flybe Average fleet: 80 Cities: …

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Why is IndiGo risking a firestorm over web check-in charges?

Indigo Airbus A320neo VT-ITC. Cabin. Copyrighted image. Re-use prohibited.

India’s largest domestic carrier IndiGo, found itself at the centre of a public relations firestorm when it announced a policy change and decided to universally charge for seat allocation during web-check-in. In a rather casual manner the airline clarified that those who did not wish to pay the charge could come to the airport and have a seat auto-assigned. Opposing …

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Why the Jet Airways acquisition will be good for the Tatas

VT-JAX Jet Airways Boeing 737 MAX 8. Image copyrighted. Do not reproduce.

The potential of the Tatas acquiring the beleaguered Jet Airways, raises a lot of questions. Bangalore Aviation presents an operational analysis on where and why the acquisition makes sense and what it would need to go through. This analysis focusses on the Tatas acquiring Jet and merging it with Vistara, the brand of Tata SIA Airlines Limited, the joint-venture of …

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SpiceJet Q2FY19 results analysis

SpiceJet Boeing 737-800 VT-SPJ. Photo copyright Devesh Agarwal.

SpiceJet, reported its second quarter results of the fiscal year 2018-19 (FY19) yesterday. Much like the results of other listed airlines, it was a loss for the quarter. SpiceJet Q2FY19 snapshot: Revenues ₹1,9104 crores (up 4%) Costs ₹2,299 crores (up 25%) EBITDAR (₹32.7) crores Profit before tax (PBT): loss of (₹396 crores) Revenue per available seat kilometre (RASK) ₹3.73 Cost per …

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Jet Airways Q2FY19 results analysis and what the future may hold

VT-JAX Jet Airways Boeing 737 MAX 8. Image copyrighted. Do not reproduce.

Jet Airways reported its second quarter (Q2FY19) results this Tuesday.  With a loss of 1261 crores, the results were better than analyst expectations – highlighting how low the market sentiment has become. Jet finds itself in a challenging spot with increasing cost pressures, onslaught of low cost carriers in the domestic market and liquidity pressures towards servicing debt. Bangalore Aviation …

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Jet Airways first quarter FY2018-19 results analysis

VT-JAX Jet Airways Boeing 737 MAX 8. Image copyrighted. Do not reproduce.

We ended our Q4FY18 analysis for Jet by indicating that, “Going forward, it seems that Jet Airways is headed for a turbulent ride. Debt will grow for the short-term. The revenue pressures are intense and the cost base is high. Addressing both these elements is critical to success.” While we forecast a result that would reflect ongoing challenges, little did …

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SpiceJet first quarter FY2018-19 results analysis

SpiceJet, reported its first quarter results of the fiscal year 2018-2019 (Q1FY19) last week. Much like its rival Indigo, it was a result that reflected the ongoing weakness in the market and was below expectations. Key numbers SpiceJet Q1FY19 results snapshot (in INR) comparisons to Q1FY18 Revenues ₹2,236 crores (up 20%) Costs ₹2,245 crores (up 31%) EBITDAR ₹398 crores (down …

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How the Indian airline industry is attacking AirAsia India

First flight of AirAsia India. Plane at the gate.

Over the last year, the media has covered the various challenges AirAsia India is facing. Ranging from executive level departures late in 2017 onwards, to filing a First Information Report (FIR i.e. a criminal complaint) against former officers of the airline, to CBI (Central Bureau of Investigations) investigations of its director. In this analysis, we explore how the hyper-competitive Indian …

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Why Vistara is likely to choose the 787-10 over the 787-9

Boeing 787-10. Boeing image.

Bloomberg is reporting that the Tata Singapore Airlines joint venture Vistara has selected the Boeing 787 Dreamliner over the Airbus A330neo as its wide-body aircraft for long distance international operations. Why did Vistara choose the 787 Just some of the reasons for Vistara choosing the 787 over the A330neo are: The 787 is a newer generation aircraft compared to the …

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Analysis of Jet Airways’ fourth quarter and full year FY2017-18 results

Jet Airways Boeing 737 MAX 8.

Confirming the challenging nature of the market, Jet Airways posted a loss of ₹1,036 crores for the fourth quarter of the fiscal year ending March 31, 2018. This pulled the full year loss to ₹767 crores. This was their first loss after eleven consecutive profitable quarters and the first full year loss after 2 years of profit. The results reflect …

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Analysis: Indigo’s fourth quarter FY18 results

Indigo Airbus A320neo VT-ITK. Image copyright Vedant Agarwal.

Indigo’s fourth quarter results were far below expectations, reflecting the intensely competitive market and irrational market and also Indigo’s challenges as it continues its growth path. The results were announced along with the full year results, however we present an analysis only of the fourth quarter as it is reflective of certain trends in the market (a full year analysis …

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