Chennai: After hitting an air pocket over leasing problems resulting in suspension of flight services over the last few months, Paramount Airways is again set to take wing in the next one month. The company will restore services to all 17 destinations. “All issues, including those related to leasing, have been settled. We hope to commence operations in December and restore connectivity to all 17 destinations where we were operating by March,” said Paramount Airways managing director M Thiagarajan.
The company is buying eight A-320s and six Embraer Q400s. “In addition, we will lease a few Airbus 320s along with crews,” Thiagarajan said.
The company has been facing problems related to maintenance reimbursement with leasing companies such as Gecas and ECC. The company will target tier II and tier III cities in its quest to become a pan-India player.
Paramount held 27% market share in the southern region.
Monday, November 15, 2010
SpiceJet set to name Maran as chairman
New Delhi: Low-cost airline SpiceJet is headed for a complete overhaul of its board with Sun Network chairman Kalanithi Maran taking over as chairman of the carrier following acquisition of over 66% stake in the in the company through off-market transaction and open offer. The proposal to this effect is expected to come up for approval in the board meeting slated for Monday. “Maran would formally take over as airline chairman on Monday. Six new directors are also proposed to be inducted with some stepping down,” industry sources said.
Maran had in June announced to acquire 37.7% in the airline by buying out Wilbur Ross and Bhupendra Kansagara’s holding for about Rs 750 crore. Following the open offer Maran and his Kal Airways hold now about 66% in the budget carrier.
Maran had in June announced to acquire 37.7% in the airline by buying out Wilbur Ross and Bhupendra Kansagara’s holding for about Rs 750 crore. Following the open offer Maran and his Kal Airways hold now about 66% in the budget carrier.
Terminal trouble on but 2 airlines to move in today
New Delhi: Saturday: 54 departures, 14 delays of an hour or more and about six cancellations. This is how Air India's official record from Delhi stood a day before Jet Airways and Kingfisher Airlines are scheduled to move their domestic operations into terminal 3 of IGI airport. While airline officials said the situation had improved considerably and there were fewer delays, passengers who got stuck at the airport due to flights delayed by 3-5 hours were not so upbeat.
"Our flight IC 464 from Dehradun was scheduled to depart for Delhi at 11.10am but we finally left at 5pm. We had a connecting Spicejet flight to Varanasi at 2.20pm but now that we have missed it, we will have to stay the night in Delhi and book another ticket on Sunday. If only AI had told us of this delay we could have taken a taxi to Delhi. Now we have lost Rs 13,000 in the cancelled Spicejet tickets and would be spending more on an overnight stay here," said professors B Mishra and Sanjay Singh from BHU.
Passengers of a Dehradun flight and a Srinagar flight were also reportedly upset with the airline and created quite a scene at the airport. The Dehradun flight, scheduled to depart at 9.30am, finally left at 3pm while the Srinagar flight departed at 4pm against 11.30am.
According to sources, between 1am and 9am, AI operated 34 flights of which 12 arrivals and 13 departures were delayed by more than an hour. Less than 20% of their flights in this duration operated with a delay of less than an hour.
Jet Airways and Kingfisher Airlines will also be moving bag and baggage into the terminal on Sunday. Jet Airways' first departure from the terminal would be 9W 2637 to Lucknow at 5.20am while the first Jetlite flight would be S2 791 to Indore at 5.35am.
"Our flight IC 464 from Dehradun was scheduled to depart for Delhi at 11.10am but we finally left at 5pm. We had a connecting Spicejet flight to Varanasi at 2.20pm but now that we have missed it, we will have to stay the night in Delhi and book another ticket on Sunday. If only AI had told us of this delay we could have taken a taxi to Delhi. Now we have lost Rs 13,000 in the cancelled Spicejet tickets and would be spending more on an overnight stay here," said professors B Mishra and Sanjay Singh from BHU.
Passengers of a Dehradun flight and a Srinagar flight were also reportedly upset with the airline and created quite a scene at the airport. The Dehradun flight, scheduled to depart at 9.30am, finally left at 3pm while the Srinagar flight departed at 4pm against 11.30am.
According to sources, between 1am and 9am, AI operated 34 flights of which 12 arrivals and 13 departures were delayed by more than an hour. Less than 20% of their flights in this duration operated with a delay of less than an hour.
Jet Airways and Kingfisher Airlines will also be moving bag and baggage into the terminal on Sunday. Jet Airways' first departure from the terminal would be 9W 2637 to Lucknow at 5.20am while the first Jetlite flight would be S2 791 to Indore at 5.35am.
Kingfisher Airlines Q2 EBITDA profit at Rs550mn
Kingfisher Airlines has reported results for the second quarter ended 30th September, 2010.
On an overall basis, the Company has made an EBITDA profit of Rs. 550mn in Q2 FY 11 vs. a loss of Rs. 2.81bn during the same period of the previous year an improvement of Rs. 3.36bn
The Company posted a positive 20% EBITDAR margin of Rs. 3.08bn as against a loss of Rs. 0.8 Crore in the corresponding quarter of the previous financial year- an improvement of Rs. 309 Crores
EBITDA profit of Rs. 108 Crores (despite accounting for Rs. 73 Crores of costs in respect of grounded aircraft) for its domestic operations, compared to a loss of Rs. 147 Crores in the same period of the previous year - an improvement of Rs. 2.55bn. The domestic EBITDA margin also improved from -13.98% to +9.21%
This performance was despite a 18% reduction in domestic capacity in terms of seats offered, due to the unplanned grounding of Airbus aircraft.
Kingfisher Airlines continues to remain “India’s favorite airline” and the only five star rated airline in India (as per Skytrax) and the single largest carrier in the domestic industry with a market share of 20% in Q2 FY 2011.
On an overall basis, the Company has made an EBITDA profit of Rs. 550mn in Q2 FY 11 vs. a loss of Rs. 2.81bn during the same period of the previous year an improvement of Rs. 3.36bn
The Company posted a positive 20% EBITDAR margin of Rs. 3.08bn as against a loss of Rs. 0.8 Crore in the corresponding quarter of the previous financial year- an improvement of Rs. 309 Crores
EBITDA profit of Rs. 108 Crores (despite accounting for Rs. 73 Crores of costs in respect of grounded aircraft) for its domestic operations, compared to a loss of Rs. 147 Crores in the same period of the previous year - an improvement of Rs. 2.55bn. The domestic EBITDA margin also improved from -13.98% to +9.21%
This performance was despite a 18% reduction in domestic capacity in terms of seats offered, due to the unplanned grounding of Airbus aircraft.
Kingfisher Airlines continues to remain “India’s favorite airline” and the only five star rated airline in India (as per Skytrax) and the single largest carrier in the domestic industry with a market share of 20% in Q2 FY 2011.
Coimbatore will get an intl airport by 2014
Coimbatore: Coimbatore will have its own international airport on the lines of the Devanahalli airport in Bangalore by July 2014. After months of protests by local villagers, the decks have been cleared for acquiring lands for the expansion of its existing airport.
The Tamil Nadu government has given an assurance to Airports Authority of India (AAI) that the acquisition of around 612.97 acres of land required for the expansion works would be completed by next June. And the AAI can start construction works from next July.
"The works would begin in a time-bound manner as soon as the acquisition process gets over. We need just three more years to finish the construction work. And on completion, it would be an all-new international airport, comparable only with the recently constructed international airports like Bangalore and Hyderabad," Airport Director Peter K Abraham told The Times of India.
With an extended runway of 12,000 ft (it is 9,900 ft at present), it can facilitate landing and takeoff of wide-bodied and fat-bellied international flights. "What we are visualizing is not just a cosmetic expansion and renovation. It would be a total revamp keeping in view of the city's needs for another 30 years," said Peter
The Tamil Nadu government has given an assurance to Airports Authority of India (AAI) that the acquisition of around 612.97 acres of land required for the expansion works would be completed by next June. And the AAI can start construction works from next July.
"The works would begin in a time-bound manner as soon as the acquisition process gets over. We need just three more years to finish the construction work. And on completion, it would be an all-new international airport, comparable only with the recently constructed international airports like Bangalore and Hyderabad," Airport Director Peter K Abraham told The Times of India.
With an extended runway of 12,000 ft (it is 9,900 ft at present), it can facilitate landing and takeoff of wide-bodied and fat-bellied international flights. "What we are visualizing is not just a cosmetic expansion and renovation. It would be a total revamp keeping in view of the city's needs for another 30 years," said Peter
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