Kalanidhi Maran of Sun TV eyes stake acquisition in SpiceJet

In a statement released by Sun TV promoter, Kalanidhi Maran has been eyeing to acquire a stake in SpiceJet from WL Ross as well as India Asset Recovery Fund (IARF) wherein the agreement will possibly be closed in the coming days.

IDFC Securities expects Rs 600-700 crore FY11 profit for Jet Airways

According the Managing Director of IDFC Securities, Nikhil Vora, Jet Airways has been targeting a 7% to 8% rise in production in the financial year 2010-2011. In addition to that, after absorbing a nearly Rs 600 crore in last financial year, the firm eyes a turnaround of Rs 600-700 crore productivity this FY11.

Kingfisher targets USD 250 million level until June-end

Kingfisher Airline has been targeting to accumulate at the minimum level of USD 250 million until end of June. The firm has been in the development of making some clarifications in its balance sheet wherein its exceptional items has a value of Rs 650 crore.

35% revenue rise gained by SpiceJet in Q4 FY10

According to the Chief Executive Officer of SpiceJet, Sanjay Agarwal, the private passenger air transport firm already announced its quarter four outputs in the financial year 2009-2010 wherein its net profit increased after registering a PAT of Rs 27.4 crore while its revenue soared 35% to Rs 587 crore from Rs 435 crore.

Boeing shows optimism on booming industry

According to the Chief Executive Officer of Boeing Co, Jim McNerney, the firm is optimistic that the airline industry is flourishing but not yet that strong. The firm, the number-two leading commercial aircraft manufacturer after EADS arm Airbus, stated that its 787 Dreamliner aircraft and other aircraft programs can aid in business rise.

Jet Air net profit in Q4 FY10 increases 10.5%

In a statement released by Jet Airways (India) Ltd, the leading private delivery service provider in India, the firm revealed that it attains 10.5% increase in net profit to Rs 58.58 crore in the fourth quarter of the financial year of 2009-2010.

Shree Cements, Karur Vysya Bank, HSIL, Jet Airways declared results today

Shree Cements
Net profit was at Rs 235.6 crore
Net sales were up at Rs 944 crore versus Rs 806.2 crore

Karur Vysya Bank
Net profit was up at Rs 98.9 crore versus Rs 83.2 crore

HSIL
Net profit was at Rs 30.9 crore
Net sales were at Rs 258 crore

Jet Airways
Net profit was up at Rs 58.6 crore versus Rs 53 crore
Net sales were up at Rs 2,604.9 crore versus Rs 2,263.4 crore

Rs 900 crore loan to be repaid by Kingfisher upon IDBI’s request

IDBI Bank, a government-owned firm, already made a request to Kingfisher Airlines in order to pay back loans with a value of Rs 900 crore subsequent to Kingfisher’s failure to follow its timetable for settlement. IDBI Bank already recalled loans to the amount of Rs 150 crore for short-term and Rs 750 crore for long-term.

Latest intl airport at Greater Noida allowed by the Planning Commission

According to the Planning Commission, it already allowed the construction of the latest airport to be located at Greater Noida. The Group of Ministers or GOM will be giving the ultimate consent in next to no time after it convene dated May 18 to talk about the venture.

US Airways withdraws from JV negotiations with UAL

According to US Airways Group Inc, it already withdrew from the joint venture negotiations with United Airlines owner UAL Corporation. As a result of this, a shared business enterprise for Continental Airlines Inc and UAL will probably form the biggest airline around the globe.

Jet Airways Konnect aims 8-10% income rise from new service

According to the Chief Commercial Officer of Jet Airways Konnect, Sudhir Raghayan, the firm has launched corporate class seats with an aim to achieve 8-10% income increase by means this service. Moreover, a 30% rise in number of passengers are attained which results to 15-18% net profit growth.

IATA says volcano catastrophe caused $1.7 billion aviation loss already

According to the International Air Transport Association or IATA, the ash cloud produced by the volcanic eruption in Iceland resulted to a major loss to the airline industry to the amount of USD 1.7 billion until last Tuesday. The catastrophe impinged on 29% of worldwide airlines as well as interrupted 1.2 million passengers daily.

Indigo Airlines aims accruing Rs 1,500 through IPO

Indigo Airlines, an economical carrier with its promoters as largest investors, announced that it is ready for exposure wherein it aims to accumulate Rs 1,500 crore via the IPO by December 31, 2010. The firm’s net profit was roughly Rs 400 crore for financial year 2009–2010.

Praful Patel reveals Air India on current business recovery

Praful Patel, the Minister of Civil Aviation, stated on Tuesday that Air India, the national carrier, already made a reduction of 25% of its deficits which was at least Rs 100 – 300 crore monthly thus, an optimistic company outlook looms as indicated by its current business improvement.

10-15% fare increase by Jet Airways in April-June probable

As compared to the January-March quarter, the April-June quarter fares of Jet Airways, a private transport service provider established in Mumbai, will probably climb between 10% and 15%. This scenario looms due to 2.14% increase in the Rs 490.75 share on the BSE at 13:25 in the afternoon.

Kingfisher Airlines introduces USD 100 million GDR

According to Ravi Nedungadi, UB Group’s chief financial officer, Kingfisher Airlines Ltd appears to introduce a USD 100 million GDR or global depository receipts issue within 8 to 10 week period. This aeronautics firm primarily aims to get high gains in the fiscal year 2011 – 2012.

Paramount’s failure to pay 2 Embraer aircrafts to be settled

Coimbatore-based Paramount Airways committed failure to pay of two Embraer aircrafts that started in 2009 according to ECC Leasing, the Brazilian aircraft maker Embraer EBA’s fully-owned subsidiary. However, lawful procedures were being carried out by the company to settle this issue once and for all.

$750 million contract sealed by ST Aerospace from Jet Airways

Last Wednesday, ST Engineering of Singapore announced that its subsidiary ST Aerospace has sealed an engine maintenance deal from Jet Airways of India with a value of USD 750 million. The support and maintenance for 67 Jet Airways’ Boeing 737 plane above 10 years should be supplied by ST Engineering and ST Aerospace.