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Analysis and Features

Analysis: Indigo third quarter FY2018 results. A leader in every way.

IndiGo ATR72-600 VT-IYA. Photo by Vedant Agarwal. Copyright. Do not re-use.

India’s largest domestic carrier, IndiGo, reported its third quarter results of the fiscal year 2017-2018 (Q3FY18) last week. The third quarter is the strongest of the fiscal year, and it was a yet another strong result coming on the back of a previously strong quarter. IndiGo Q3FY18 results snapshot with percentage comparisons to Q3FY17 • Revenues ₹6,449 crores (₹64.49 billion) …

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Opportunity and Parity- Pilot’s licenses in India

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

by Poonam Verma and Apoorva Saxena Foreign pilots have enjoyed the privilege to fly steel birds in India for a long time. This, to a great extent, hampered opportunities available to Indian trained pilots. This treatment of foreign pilots in India is not being reciprocated to Indian pilots by foreign jurisdictions. This article throws some light on the opportunities and …

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IndiGo, AirAsia India, Spicejet top on-time for 2018. Chennai airport tops.

The ramp at Rajiv Gandhi airport, Hyderabad. Photo by Devesh Agarwal. Used with permission. Do not re-use.

Three of India’s low-cost carriers, IndiGo, AirAsia India, and Spicejet feature in the OAG’s Punctuality League 2018 as India’s most punctual airlines. Chennai, Hyderabad, and New Delhi airports also feature in the annual report of airlines and airports with the best on-time performance (OTP) in the world. The best of the best As per the Punctuality League 2018, the most …

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OAG report exposes gaps in DGCA on-time performance (OTP) reports

Bengaluru Kempegowda airport ramp. Photo copyright Devesh Agarwal. Used with permission.

Data from the world’s leading provider of digital flight information OAG Aviation Worldwide Ltd, appears to contradict the On-Time Performance (OTP) as reported by the country’s regulator the Directorate General of Civil Aviation (DGCA). OAG which used to be the Official Airline Guide and handles more than 35 million dynamic flight status updates per day shows national leader IndiGo ranked …

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Only one runway in 50 years. India’s lagging airport expansion.

Runway 09 at Kempegowda airport, Bangalore. Image copyright Devesh Agarwal. All rights reserved. Used with permission.

In 2006-07, Mumbai and New Delhi airports were awarded to M/s GMR and GVK and entered an era of private airport management. In the mean time, private public partnership greenfield airports were in progress at Kochi, Hyderabad, and Bangalore. Passengers across the nation waited with anticipation to finally be free of the poor service standards of the Airports Authority of …

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Analysis: Qatar buys 9.61% of Cathay Pacific for $662 million for China foothold

After being rebuffed in its attempt to buy a stake in US carrier and fellow oneworld member, American Airlines Group, national carrier Qatar Airways Q.C.S.C. has bought a 9.61% stake in another fellow oneworld carrier Cathay Pacific Airways Limited. Qatar Airways bought 378,188,000 shares of Cathay Pacific from Kingboard Chemical Holdings and its allied companies for HK$5.2 billion (approximately US$662 …

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Analysis: Indigo second quarter FY2018 results: soaring high

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

India’s largest domestic carrier, IndiGo, reported its second quarter results of the fiscal year 2017-2018 (Q2FY18) yesterday. It was a result that surpassed expectations. IndiGo Q2FY18 results snapshot (in ₹) comparisons to Q2FY17 Revenues ₹5,506 crores (up 13%) Costs ₹4,741 crores (up 14.2%) EBITDAR ₹1,581 crores (up 61.8%) Profit before tax (PBT) ₹7,645 (up 333%) Profit after tax (PAT) ₹551 crores …

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Indian ATC ignores repeated mayday, endangers Air Canada flight

Air Canada Boeing 787-9. Airline Image.

In a shocking development, just come to light, it appears that Indian Air Traffic Control (ATC) ignored the repeated MAYDAY calls by an Air Canada flight and endangered the lives of 191 passenger and crew on the night of September 19th. Readers of Bangalore Aviation know how I despise the histrionic headlines found in mainstream media, but this case merits …

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Analysis: Jet Airways first quarter FY2018 results. Several challenges.

Jet Airways Boeing 777-300ER VT-JEG performing flight 9W117 from London approaches Mumbai airport

Jet Airways reported results for the first quarter (Q1) of the fiscal year 2017-18 (FY2018 or FY18) yesterday. The results were a mixed bag and showed both areas of improvement and concern. Bangalore Aviation presents an analysis by an external industry professional as the editor of the site owns shares in the airline. The external analyst prefers to remain anonymous. …

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New Delhi Bangalore cheapest in world’s ‘Top 20’ busiest routes

An analysis by Bangalore Aviation of a report by website Routesonline shows New Delhi Bangalore is the lowest cost route among the world’s ‘Top 20’ busiest routes for July 2017. Delhi Bangalore most economical The New Delhi Bengaluru route cost an average base fare of ₹4,830 (approx $75.31) or ₹2.84 per kilometre for the 1,703 kilometre distance between the two …

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Has the UDAN Regional Connectivity Scheme failed to take-off?

Alliance Air (Air India Regional) ATR-42 VT-ABB.

The Ministry of Civil Aviation recently announced revisions to the Regional Connectivity Scheme better known as UDAN (Ude Desh ka Aam Nagarik). The revisions and other industry developments show that the scheme has failed to takeoff. This is also reflects the hurried way in which the scheme was put out and the lack of consensus building and consultation. As a …

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Analysis: Spicejet first quarter FY2018 results. Several items of concern.

SpiceJet Bombardier Q400 Dash 8 VT-SUB lands at Kempegowda airport Bangalore. Photo by Vedant Agarwal. All rights reserved.

Spicejet’s results for the first quarter of fiscal year 2017-18 were a mixed bag, and we find several items of concern. Bangalore Aviation presents an analysis of the numbers: Results snapshot (all figures in Indian Rupees) Revenues 2,068 crores Costs 1,714 crores EBITDAR 479 crores Profit before tax 177 crores Profit after tax 178 crores Revenue per available seat kilometre …

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Analysis: IndiGo first quarter FY2018 results and fleet, plans, and strategy

IndiGo first A320neo VT-ITC touches down at New Delhi's IGI airport after a non-stop flight from Toulouse, France

India’s largest domestic carrier, IndiGo, reported its first quarter results of the fiscal year 2017-2018 (Q1FY18) yesterday. It was a strong result but perhaps what was different this time, were details on its fleet, international expansion plans and strategic direction, the airline shared. Bangalore Aviation is the first to report on and analyse these comprehensive issues. IndiGo Q1FY18 results snapshot …

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Unconvinced by IndiGo’s bid for Air India

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

Indigo’s analyst call on 6th July was scheduled to allay investor concerns about the new direction the airline was taking after submitting the unsolicited bid for Air India. One of the founders admitted, that without numbers, it was like “going to a corporate board meeting in a swim suit” and we wholeheartedly agree. If anything it added to the confusion …

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Spicejet Q4FY17 results analysis

Spicejet Boeing 737-800WL VT-SGK at New Delhi airport.

Spicejet reported the fourth quarter of fiscal year 2016-2017 results on June 3, 2017, a Saturday, not a working day for the financial markets. The timing of the results announcement was as interesting as the results themselves. Overall, the results were below analyst expectations and are reflective of the intensely competitive fare and capacity environment in Indian aviation. Key financial …

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Analysis: Why did IndiGo decide to introduce ATR72’s in to its fleet?

IndiGo_A320 classic VT-INT. Photo: Devesh Agarwal.

Earlier this month, on the 9th of May, India’s largest domestic airline Indigo, announced that they had signed a term-sheet with French turbo-prop airframer ATR, for the induction of 50 ATR72-600 regional aircraft. The announcement caught the aviation and investment community completely by surprise. Since its inception 12 years ago in 2005, IndiGo had slavishly adhered to the “one airframe …

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