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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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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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Runway capacity challenges at Delhi airport

Runway 28 at Indira Gandhi International Airport at night. Image copyright Vedant Agarwal.

New Delhi Indira Gandhi airport is looking to maximize efficiency of their runways via a series of measures. Bangalore Aviation has learned that the airport operator Delhi International Airport Limited (DIAL) is working towards achieving a runway service rate of 104 movements per hour. This rate will include optimised pilot performance, optimised ATC performance and high intensity runway operations. Yet, …

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DGCAs new regressive policy on callsigns

Qatar Airways Airbus A319LR cockpit

The DGCA has put out a circular with guidelines on avoiding confusing call-signs by operators. Presumably this comes about after a handful of incidents where callsigns were confused. However, this move by the regulator that fails to address the real issue. Full document may be accessed at: http://dgca.nic.in/aic/AIC02_2017.pdf Thoroughly confusing and impractical guildelines The guidelines have a bullet list of provisions. Who is …

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SpiceJet Q3FY17 results analysis: severe turbulence ahead

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

Spicejet reported its third quarter (ending December 31) results for the fiscal year ending March 31 2017 (FY2017). With earnings of Rs 181.1 crores, the results were below expectations. As was the case with its competitors, consistent fare sales and aggressive capacity addition added to the revenue pressure but as SpiceJet usually leads in the fare sales and demand stimulation, …

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Jet Airways Q3 FY17 results analysis: challenging times ahead

Jet Airways Boeing 737-800 VT-JGA.

Jet Airways reported its third quarter (ending December 31) results for the fiscal year ending March 31 2017 (FY2017). With earnings of Rs 156.3 crores, the results were much below expectations and point to structural challenges. The results decline was driven by intense competition in the market, consistent fare sales and aggressive capacity addition – all of which added to …

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Analysis: IndiGo Q3FY17 results highlight challenging environment

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

IndiGo reported its third quarter (ending December 31) results for the fiscal year ending March 31 2017 (FY2017). With earnings of Rs 487.3 crores, the results yet again failed to meet analysts’ expectations. As reported earlier, intense competition in the market, consistent fare sales and aggressive capacity addition have added to the revenue pressures. Key numbers Total revenue: Rs 5,158 …

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Indigo Q2 fiscal 2017 results analysis – Capacity affects yields and profits

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

IndiGo reported its second quarter (ending September 30) results for the fiscal year ending March 31 2017 (FY2017). With earnings of Rs 139.8 crores, the results yet again failed to meet analysts’ expectations. As reported earlier, intense competition in the market, consistent fare sales and aggressive capacity addition have added to the revenue pressures. Key numbers Passenger Revenue – Rs. …

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Jet Airways Q1 FY2017 results analysis – headwinds and turbulence likely

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

Jet Airways reported results on August 12th with a net profit of Rs 103.1 crores on revenues of Rs 5,112 crores for the first quarter of fiscal year 2016-17 (FY17). The results indicate several challenges and highlights are as below: Operational performance The quarter saw an overall capacity increase of 3.8% compared to the same quarter last year, when measured …

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Indian aviation largely overlooked in the 2016 budget

The nightly aircraft line-up tail parade at the apron of Kempegowda International Airport Bangalore

For all the talk of the Government promoting aviation and as the industry watched with baited breath, the budget seems to have continued the Modi-government’s ignoring of  civil aviation. The sum-total budget proposals pertinent to aviation do not even warrant us writing an article. If anything, they could likely be summed up in an SMS message. Namely, Aviation turbine fuel (ATF) …

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Jet Airways Q3FY16 analysis – good results, structural challenges remain

Jet Airways Boeing 737-800 VT-JGA.

Jet Airways reported their highest ever quarterly profits of Rs 467 crores for fiscal 2015-16 third quarter ending December 2015. The key metrics were trending in the right direction; yet, the structural challenges at Jet Airways remain and require close monitoring. Operational performance Operationally, Jet has clocked a utilisation of more than 13 hours, which is phenomenal by any standards, …

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