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<ul><li>The shares of India’s largest airline, IndiGo, were down nearly 15% since March but the stock recovered nearly half of the fall on May 21.</li><li>The shares of SpiceJet climbed over 5% hitting the upper circuit set by the stock exchanges.</li><li>Union civil aviation minister Hardeep Singh Puri announced that the domestic flights' operations will resume from May 25.</li></ul>The shares of Interglobe Aviation, the operator India’s largest airline IndiGo, were down nearly 15% since March but the stock recovered nearly half of the fall on May 21. SpiceJet climbed over 5% hitting the upper circuit set by the stock exchanges. The stellar rally in airline stocks was triggered by the Indian government’s decision to resume domestic flights from May 25 <div type="javascript" title="Custom" contenttype="Image"><cdata><![CDATA[<div class="flourish-embed flourish-chart" data-src="visualisation/2445817" data-url="https://flo.uri.sh/visualisation/2445817/embed"></div>]]></cdata></div> <div type="javascript" title="Custom" contenttype="Image"><cdata><![CDATA[<div class="flourish-embed flourish-chart" data-src="visualisation/2445791" data-url="https://flo.uri.sh/visualisation/2445791/embed"></div>]]></cdata></div>Yesterday Union civil aviation minister Hardeep Singh Puri announced that the domestic flights' operations will resume from May 25 in a calibrated manner and all airports and airlines are being informed to prepare for the resumption. <div type="twitter" handle="HardeepSPuri" handlename="Hardeep Singh Puri" image="http://pbs.twimg.com/profile_images/1176854328184692737/P6qL9CFp_normal.jpg" favoritecount="23278" retweetcount="6148" status="Domestic civil aviation operations will recommence in a calibrated manner from Monday 25th May 2020.All airports… https://t.co/xm9YjtMtXz" createdat="1589974072000" id="1263068920690302977"></div> SEE ALSO: <a href="https://www.businessinsider.in/india/news/indian-domestic-flights-to-resume-from-may-25-after-a-long-halt/articleshow/75847769.cms" data-type="tilCustomLink">India allows domestic flights to resume from May 25 after a long halt</a>

Within minutes, IndiGo’s shares nearly halve their losses since March-end after India allows local flights to resume from May 25⁠— SpiceJet soars too

<ul><li>A bankrupt carrier that hasn't flown once in 2020 is the world's best-performing airline stock this year, <a href="https://www.bloomberg.com/news/articles/2020-11-03/world-s-best-performing-airline-stock-is-bankrupt-indian-carrier?srnd=markets-vp">according to Bloomberg</a>.</li><li>Shares in <keyword id="6358200" type="ORGANIZATION" weightage="60" keywordseo="jet-airways">Jet Airways</keyword> have jumped more than 130% this year, striking a sharp contrast to the 42% slump in the Bloomberg <keyword id="44023" type="ORGANIZATION" weightage="60" keywordseo="airlines">Airlines</keyword> Index over the same period.</li><li>The Indian carrier's rally is surprising, not least because it faces about $3.4 billion in outstanding claims, most of its airport slots have been seized, and it has almost no employees, Bloomberg said.</li><li>Jet's stock-price gain echoes the nine-fold increase in Hertz shares after the car-rental company filed for <keyword id="43550" type="EVENT" weightage="60" keywordseo="Bankruptcy">bankruptcy</keyword> in May.</li><li><a href="https://www.businessinsider.com/">Visit Business Insider's homepage for more stories</a>.</li></ul>The best-performing airline stock in the world this year is a bankrupt carrier that hasn't flown since 2019, <a href="https://www.bloomberg.com/news/articles/2020-11-03/world-s-best-performing-airline-stock-is-bankrupt-indian-carrier?srnd=markets-vp">Bloomberg reported on Wednesday</a>.Jet Airways shares have soared more than 130% this year, compared to a 42% slump for the Bloomberg World Airlines Index, which comprises 27 of the world's largest carriers.The share-price increase is puzzling because the Indian airline remains mired in the bankruptcy process. Stockholders almost always lose out in bankruptcies as suppliers, creditors, and other parties' claims on assets take priority.Read More: <a href="https://www.businessinsider.com/stocks-to-buy-and-avoid-in-3-election-outcomes-stifel-2020-10" target="_blank" rel="noopener noreferrer">Stifel asked its analysts to identify stocks most likely to be positively or negatively affected by the election results. Here are the dozens of stocks to buy or avoid in each of the 3 outcomes.</a>Jet also faces claims totaling about $3.4 billion from close to 17,000 creditors, most of its airport slots have been seized, and it has virtually no employees anymore, Bloomberg said.The group recently got the green light from creditors to proceed with a resolution plan, but there's little to suggest it will restart flights anytime soon. Retail investors may be bidding up Jet's shares in the hope it makes a comeback after restructuring, or because they see value in its assets, Bloomberg reported.The breathless rise in Jet's stock price echoes the <a href="https://markets.businessinsider.com/news/stocks/hertz-stock-price-skyrockets-since-filing-bankruptcy-traders-global-holdings-2020-6-1029285231#">800% surge in Hertz shares</a> after the car-rental giant filed for bankruptcy in late May. That buying frenzy was fueled by <a href="https://markets.businessinsider.com/news/stocks/robinhood-traders-bet-hertz-bankruptcy-stocks-despite-huge-risks-2020-6-1029292002#">day traders speculating on apps such as Robinhood</a>.Read More: <a href="https://www.businessinsider.com/stock-market-crash-fear-gauge-signals-meltdown-after-2020-election-2020-10" target="_blank" rel="noopener noreferrer">Wall Street's fear gauge is warning that the upcoming election could trigger a prolonged period of stock-market chaos — one that's much worse than the aftermath of 2016</a>Jet faces a difficult backdrop, as airlines continue to suffer from pandemic-related travel restrictions and virus fears weighing on passenger numbers. The industry's mounting challenges spurred billionaire investor Warren Buffett to <a href="https://markets.businessinsider.com/news/stocks/warren-buffett-berkshire-hathaway-sold-airline-stocks-april-2020-5-1029156875#">dump his stakes in the "big four" US carriers in April</a>.While Jet shares have rallied, they are still more than 90% below their level at the start of 2018.

A bankrupt airline's stock has soared 130% this year, even though it hasn't flown once in 2020

By Quaid Najmi The tottering <keyword id="528556" type="General" weightage="20" keywordseo="Indian-aviation-sector" source="Orion">Indian aviation sector</keyword> hit fresh turbulence when early this month, another flourishing private airline was suddenly grounded owing to various problems, making it the 11th in a decade to �fall from the skies. Throwing their hands up, the <keyword id="11252024" type="General" weightage="20" keywordseo="go-first" source="Orion">Go First</keyword> budget airline's owners -- the Wadia Group -- filed voluntary insolvency resolution proceedings before the National Company Law Tribunal (NCLT) sending shockwaves through the entire <keyword id="34990" type="General" weightage="20" keywordseo="airline-industry" source="Orion">airline industry</keyword>. Go First was plagued by a peculiar problem -- the purported failure of the jet engine manufacturer, Pratt &amp; Whitney, USA, to supply engines/spares for its aircraft that grounded nearly 40 percent of the fleet for several months before it was compelled to totally suspend operations from the first week of May 2023. While the <keyword id="6354787" type="General" weightage="20" keywordseo="DGCA" source="Orion">DGCA</keyword> slapped a show-cause notice on the carrier for its abrupt actions that created havoc with thousands of flyers, Civil Aviation Minister Jyotiraditya Scindia seemed sympathetic to Go First grappling with the engine problems. While assuring that the government was helping out as best as possible, Scindia also called upon Go First to make alternative travel arrangements for its flyers to avoid inconveniencing them. According to Go First the application under the IBC came after the "ever-increasing number of failing engines supplied by PW" which led to the grounding of around 25 of its 61-strong Airbus A-320neo aircraft, or almost 40 percent of its fleet by April 30, 2023. Go First said in a statement that the groundings due to faulty PW engines increased from 7 percent of its fleet in December 2019 to 31 percent in December 2020 and 50 percent in December 2022, and blamed PW for giving assurances but failing to meet them. In view of this, the beleagured carrier suffered a whopping loss of nearly Rs 10,800 crore and even demanded Rs 8000 crore as compensation from the PW which could help Go First to meet its financial commitments/obligations. Besides, Go First had also coughed up Rs 5,657 crore to its lessors in the past couple of years comprising Rs 1,600 crore as lease rent for the non-operational grounded aircraft. Go First was also hampered by the PW reportedly not honouring the March 2023 award of the Emergency Arbitrator in Singapore to immediately provide the airline with at least 10 serviceable spare leased engines by April 2023 and 10 more per month till December 2023 to enable the carrier to resume full operations, financial rehab and survival. An aviation official said that after the NCLT processes the Go First application, it could appoint an interim Resolution Professional to take over and re-start operations, adding that a similar exercise in 2019 with another grounded private carrier failed to take-off. Though Go First's promoters have pumped in around Rs 3,200 crore in the past three years, coming to a total investment of nearly Rs 6,500 crore, plus support from the government's emergency credit line guarantee, all this failed to help as the airline kept incurring 100 percent of its operational costs and with a total loss of Rs 10,800 crores, it �succumbed'. In the NCLT plea, the 17-year-old airline which operated over 32 flights to 29 domestic and 10 international destinations, has sought several interim directions including restraining the lessors from taking back their aircraft, any adverse action by the DGCA, suppliers of essential goods-services, etc. Since launching low key operations in November 2005 as �GoAir', Go First gradually climbed up to become the fifth largest private carrier, consistently profitable and expanding till the PW �engine troubles' started from December 2020, hitting its operations and forcing it to ground in May 2023. However, the owner-promoters have already made it clear that they are keen to revive and not sell the venture or even exit this sector, which has witnessed many ups and downs with the practical �demise' of another 10 airlines in the past 10 years - or average one per annum! The Go First imbroglio came at a crucial juncture for the country's aviation sector which was soaring to pre-Covid 19 levels after the harsh pandemic and the ongoing peak summer holidays - and its full impact on the industry remains to be seen. (Quaid Najmi can be contacted at q.najmi@ians.in) SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/sustainability/news/buried-toxic-waste-from-old-mining-operations-could-destroy-ecosystems-as-warming-thaws-the-arctic-permafrost/articleshow/100394167.cms">Buried toxic waste from old mining operations could destroy ecosystems as warming thaws the Arctic permafrost</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/sustainability/news/53-of-largest-lakes-worldwide-losing-water-storing-capacity-due-to-global-warming-and-unsustainable-human-consumption/articleshow/100394475.cms">53% of largest lakes worldwide losing water storing capacity due to global warming and unsustainable human consumption</a>

Go First Gone: 11th private airline to 'drop' out of skies in a decade

<ul><li>At 7:45 am, SGX <keyword id="6354813" type="UNKNOWN" weightage="20" keywordseo="Nifty">Nifty</keyword> was up by 150 points, or over 1%.</li><li>Here’s a list of stocks to watch for in trade today.</li><li>Check out the latest news and updates on Business Insider.</li></ul>Indian stock markets could see a bounce back on Tuesday after the <a href="https://www.businessinsider.in/stock-market/news/sensex-sees-2-weeks-of-gain-wiped-out-in-half-a-day-plunges-by-over-1400-points/articleshow/79838339.cms">massive plunge on Monday</a>. At 7:45 am, SGX Nifty was up by 150 points, or over 1%, suggesting that the Indian stock exchanges will have a positive start to the day. This is despite the US stock exchanges <a href="https://www.businessinsider.in/stock-market/news/sp-500-slides-as-revived-lockdown-fears-offset-stimulus-progress/articleshow/79848110.cms">sliding over revived lockdown fears</a>. The Dow Jones barely closed in the green, up by 0.12%, while S&amp;P 500 was down by 0.39%. These are the stocks to watch out for during the trading session today: Airline stocks – <keyword id="6358032" type="DOMAIN" weightage="20" keywordseo="SpiceJet">SpiceJet</keyword>, <keyword id="2351966" type="COMPANY" weightage="20" keywordseo="InterGlobe-Aviation">InterGlobe Aviation</keyword> With India suspending flights to the UK till December 31, airline stocks SpiceJet and InterGlobe Aviation will be in the focus. While SpiceJet fell by 10% yesterday, InterGlobe Aviation fell by 9.39%. Hotel stocks – Indian Hotel, Kamat Hotels The Maharashtra government announced night curfew from December 22 to January 5. This brings hotel stocks such as Indian Hotel, Kamat Hotels, and The Oberoi Group’s EIH under focus in trade today. <keyword id="42747" type="DOMAIN" weightage="20" keywordseo="Tata-Motors">Tata Motors</keyword> The company announced that it is increasing prices of commercial vehicles from January 1 due to an increase in input cost and the impact of forex rates. <keyword id="44612" type="DOMAIN" weightage="20" keywordseo="Pfizer">Pfizer</keyword> Pfizer has received approval from the European Medicines Agency for the BioNTech COVID vaccine in the European Union. <keyword id="46698" type="DOMAIN" weightage="20" keywordseo="Lupin">Lupin</keyword> Lupin received US FDA approval for its Banzel oral suspension. Majesco Edelweiss Retail Finance has acquired 2.04 lakh shares of the company at ₹974 per share. <keyword id="106317" type="DOMAIN" weightage="20" keywordseo="Asian-Paints">Asian Paints</keyword> The company’s promoter entity Smiti Holding and Trading Company has released a pledge on 9 lakh shares. <keyword id="1350" type="CITY" weightage="20" keywordseo="Niit">NIIT</keyword> The company’s board is meeting on December 24 to consider share buyback. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/sensex-sees-2-weeks-of-gain-wiped-out-in-half-a-day-plunges-by-over-1400-points/articleshow/79838339.cms">Sensex sees 2 weeks of gain wiped out in half a day – plunges by over 1,400 points</a> <a href="https://www.businessinsider.in/india/news/india-suspends-all-flights-from-uk-until-december-31-as-a-new-covid-19-strain-emerges/articleshow/79838835.cms">India suspends all flights from UK until December 31 as a new COVID-19 strain emerges</a>

Top stocks to watch – SpiceJet, InterGlobe Aviation, Tata Motors, Pfizer, Asian Paints, NIIT, Lupin, and others

<ul><li>In a stock exchange filing on April 2nd, <keyword id="6358200" type="DOMAIN" weightage="20" keywordseo="jet-airways">Jet Airways</keyword> said that it had been forced to ground 15 additional planes in its <keyword id="6378911" type="UNKNOWN" weightage="20" keywordseo="fleet">fleet</keyword> over non-payment of dues. </li><li>The move brings the total size of Jet’s fleet to a mere 29 aircraft, which will deplete its market share even further. </li><li>Out of these, only half are said to be operational, sources told ET, making it the smallest pan-Indian airline. It had started the year with a fleet of 119 planes.</li></ul>The woes of Jet Airways continue to mount. As the struggling Indian airline scours the globe in <a href="https://www.businessinsider.in/jet-airways-desperate-search-for-a-new-investor-takes-it-to-the-us-singapore-and-uae/articleshow/68626524.cms">search of lifeline investment, </a>its day-to-day operations are taking a significant hit. In a stock exchange <a href="https://www.bseindia.com/xml-data/corpfiling/AttachLive/c7c15f05-efe6-4638-8e63-77dde8703883.pdf">filing </a>on April 2nd, Jet Airways said that it had been forced to ground 15 additional planes in its fleet over non-payment of dues. “As mentioned earlier, the Company is actively engaged with all its aircraft lessors and regularly provides them with updates on the efforts undertaken by the Company to improve its liquidity” Jet said in its filing. Jet’s shares on the Bombay Stock Exchange fell 5% over the course of the yesterday. The move brings the total size of Jet’s fleet to a mere 29 aircraft, which will deplete its market share even further. Out of these, <a href="https://economictimes.indiatimes.com/industry/transportation/airlines-/-aviation/jet-airways-is-now-smallest-operating-pan-indian-airline/articleshow/68697232.cms">only half </a>are said to be operational, sources told ET, making it the smallest pan-Indian airline. It had started the year with a fleet of 119 planes. In addition to plane rental dues, the airline has also been unable to pay its pilots and engineers since January. As a result, <a href="https://www.business-standard.com/article/companies/cash-strapped-jet-airways-offers-its-boeing-737-pilots-leave-without-pay-119040201251_1.html">around 200 </a>out of 1,400 pilots have resigned in the last few months. Jet recently told the pilots of its <keyword id="441908" type="COMPANY" weightage="20" keywordseo="boeing-737">Boeing 737</keyword> planes that they would be given <a href="https://www.business-standard.com/article/companies/cash-strapped-jet-airways-offers-its-boeing-737-pilots-leave-without-pay-119040201251_1.html">leave without pay</a> for the next six months. The decision affects nearly 1,000 pilots. The devolution to India’s smallest airline marks a dramatic fall from grace for Jet. India’s oldest private carrier, <a href="https://www.bbc.com/news/world-asia-india-47664059">which started operations in 1993</a>, grew to be India’s largest international carrier over the 2000s - biting into <keyword id="2573" type="COMPANY" weightage="20" keywordseo="Air-India">Air India</keyword>’s monopoly - before balking in the face of competition from low carriers as well as rising oil prices and a depreciating rupee. SEE ALSO: <a href="https://www.businessinsider.in/jet-airways-desperate-search-for-a-new-investor-takes-it-to-the-us-singapore-and-uae/articleshow/68626524.cms">Jet Airways’ desperate search for a new investor takes it to the US, Singapore and UAE</a> <a href="https://www.businessinsider.in/jet-airways-chairman-naresh-goyal-steps-down/articleshow/68212261.cms">Jet’s chairman finally agrees to step down, paving way for bank-led bailout</a>

One of India’s oldest airlines is now its smallest by fleet size

<ul><li><keyword id="8555" type="CITY" weightage="20" keywordseo="Tata">Tata</keyword> Sons, which is the joint owner of <keyword id="2467342" type="COMPANY" weightage="20" keywordseo="Vistara">Vistara</keyword> with <keyword id="6368386" type="COMPANY" weightage="20" keywordseo="singapore-airlines">Singapore Airlines</keyword>, is in talks to purchase a controlling stake in struggling carrier <keyword id="6358200" type="DOMAIN" weightage="20" keywordseo="jet-airways">Jet Airways</keyword>. </li><li>The Indian conglomerate is reported to be mulling an all-stock merger between SIA Airlines, the parent company of Vistara, and Jet Airways. </li><li>However, the deal is contingent on the majority owner of Jet Airways, <keyword id="122732" type="PERSON" weightage="20" keywordseo="Naresh-Goyal">Naresh Goyal</keyword>, relinquishing control of the airline. </li><li>The chairman of Tata Sons, N. Chandrasekaran, will reportedly make a case for the Jet Airways deal to the rest of the conglomerate’s managing board today. </li></ul> India’s media outlets have been rife in recent days with news that Tata Sons, one of the country’s largest conglomerates and joint owner of Vistara with Singapore Airlines, is in talks to purchase a controlling stake in <a href="https://www.businessinsider.in/jet-airways-has-a-plan-to-stave-off-a-potential-bankruptcy/articleshow/65992075.cms">struggling carrier Jet Airways</a>. If successful, the combined entity will be one India’s largest airlines, giving Tata Sons a firmer grasp of the country’s aviation sector. In fact, Tata Sons is reported to be mulling an all-stock merger between SIA Airlines, the parent company of Vistara, and Jet Airways as <a href="https://economictimes.indiatimes.com/industry/transportation/airlines-/-aviation/tata-sia-airlines-eyes-all-stock-merger-of-vistara-with-jet-airways/articleshow/66628400.cms">the potential first step </a>to a two-part transaction, according to the Economic Times. This leg of the deal will likely involve a share swap. The second part of the deal, however, is where it gets tricky for Jet Airways. Tata Sons wants Naresh Goyal, the promoter of Jet Airways, to relinquish his control of the company and possibly <a href="https://www.business-standard.com/article/companies/tata-sons-jet-airways-deal-only-if-naresh-goyal-gives-up-board-seat-118111501545_1.html">give up his board seat</a>. As a result, the second step could involve a complete buyout of Goyal’s stake in the combined entity by Singapore Airlines. The impetus is clear. Rather than giving Goyal a fresh round of funds to do as he pleases, Tata Sons wants the ability to implement strict cost control and restructuring measures at the airline. Goyal isn’t expected to cash out easily, but if that’s the only hurdle preventing a rescue of Jet Airways, it may be the most prudent thing to do. The most plausible scenario will see him and his partner in Jet Airways, Etihad Airlines, end up with a minority stake. The Goyal family currently holds a 51% stake in the airline while Etihad has a 24% share. The deal has its pros and cons for Tata Sons. By gaining access to Jet’s fleet of aircraft, national and international routes, flight facilities and landing licenses, Tata Sons will become a bigger force to reckon with in the industry. Vistara, on the other hand, will benefit from the added heft of a number of cross-country routes. However, Jet is dangerously close to insolvency. Not only will Tata Sons have to take responsibility for Jet’s debts and, but it will also have to pump a significant amount of capital to turn around the troubled airline. Wide support It seems that India’s capital markets are in mood to cheer the deal. Jet Airways’ shares on the National Stock Exchange (NSE) rose by <a href="https://www.google.co.in/search?q=jet+airways+share+price&amp;rlz=1C1GCEU_enIN820IN820&amp;oq=jet+airways+share+price&amp;aqs=chrome.0.0l6.4874j0j7&amp;sourceid=chrome&amp;ie=UTF-8">27% </a>on 15 November as reports surfaced that Tata Sons was conducting due diligence on Jet Airways came to light. In addition, the Indian government is also said to be in favour of the deal. In fact, according to a <a href="https://www.bloombergquint.com/global-economics/tata-said-to-have-been-asked-by-modi-to-explore-buying-jet-stake#gs.MEU1Mas">Bloomberg report</a>, the Narendra Modi administration urged Tata Sons to consider the deal, and possibly add a sweetener in the form of a haircut on Jet Airways’ loans to state-run banks. It is no secret that India’s aviation sector is in <a href="https://www.businessinsider.in/indias-largest-passenger-airline-just-posted-its-first-ever-quarterly-loss-since-going-public-and-its-results-reflect-the-larger-woes-of-the-countrys-aviation-sector/articleshow/66362156.cms">the doldrums</a> owing to the recent surge in fuel prices, and the government doesn’t want to risk the failure of a large airline as it heads into election year. The chairman of Tata Sons, N. Chandrasekaran, will reportedly<a href="https://www.livemint.com/Companies/ldbWRm3h3FgNEpCBns9ntL/Tata-Sons-chairman-to-pitch-to-board-on-plan-to-buy-Jet-Airw.html"> make a case for the Jet Airways deal</a> to the rest of the conglomerate’s managing board on Friday. The theme of his pitch will be clear. The deal will catapult Vistara from a small carrier operating on popular routes to one of the country’s largest airlines. SEE ALSO: <a href="https://www.businessinsider.in/indias-largest-passenger-airline-just-posted-its-first-ever-quarterly-loss-since-going-public-and-its-results-reflect-the-larger-woes-of-the-countrys-aviation-sector/articleshow/66362156.cms">India’s largest passenger airline just posted its first ever quarterly loss since going public — and its results reflect the larger woes of the country’s aviation sector</a> <a href="https://www.businessinsider.in/jet-airways-has-a-plan-to-stave-off-a-potential-bankruptcy/articleshow/65992075.cms">Jet Airways has a plan to stave off a potential bankruptcy</a> <a href="https://www.businessinsider.in/the-indian-government-is-planning-a-rescue-package-for-the-aviation-sector-as-the-losses-pile-up/articleshow/65681289.cms">The Indian government is planning a rescue package for the aviation sector as the losses pile up</a>

Indian conglomerate Tata is in talks to buy out troubled carrier Jet Airways in a deal that  could create one of the country's largest airlines

<ul><li><keyword id="6358200" type="ORGANIZATION" weightage="20" keywordseo="jet-airways">Jet Airways</keyword> had caught the attention of Srichand and <keyword id="375933" type="PERSON" weightage="20" keywordseo="Gopichand-Hinduja">Gopichand Hinduja</keyword>, who are worth $16 billion. </li><li>Jet may not be the biggest bet Hindujas ever made. Their first major acquisition was Ashok Leyland in 1987. </li><li>The Hindujas are one of the wealthiest families in the UK</li></ul> Last week, Jet Airways stock suddenly jumped 6.9%, even as the airline was grounded for seven months. The stock started buzzing after Indian-born Hinduja brothers, who run the London-based group worth $50 billion, <a href="https://economictimes.indiatimes.com/markets/stocks/news/share-market-update-aviation-stocks-fly-jet-airways-climbs-5/articleshow/73056864.cms">are showing interest, yet again</a>. In May 2019, <a href="https://www.businessinsider.in/jet-airways-could-avoid-nclat-with-bid-from-hinduja-brothers/articleshow/69422808.cms">Hindujas emerged as prominent bidder </a>for the airline but the deal fell apart. Months later, they said that they want to bid only if they were protected from legal liabilities. It is safe to say that Jet Airways has caught the attention of Srichand and Gopichand Hinduja, <a href="https://www.businessinsider.in/jet-airways-could-avoid-nclat-with-bid-from-hinduja-brothers/articleshow/69422808.cms">who are worth $16 billion</a>. <div type="Slideshow" msid="73068512" hostid="261" title="The billionaires who want to fly Jet Airways are also the world's largest bus manufacturers" firstImageMsid="73068593" slideCount="3"></div>

The billionaires who want to fly Jet Airways are also the world's largest bus manufacturers

Singapore: <keyword id="20036942" type="General" weightage="100" keywordseo="Singapore-Airlines" source="keywords" meta.keywordsubtype="org" meta.entityname="Singapore Airlines" meta.hostid="83" meta.entityid="Singapore Airlines">Singapore Airlines</keyword> on Friday said it has received approval from the Indian government for the foreign direct investment as part of the proposed merger of <keyword id="20018887" type="General" weightage="20" keywordseo="Vistara" source="keywords" meta.keywordsubtype="org" meta.entityname="Vistara" meta.hostid="83" meta.entityid="Vistara">Vistara</keyword> with <keyword id="19896871" type="General" weightage="20" keywordseo="Air-India" source="keywords" meta.keywordsubtype="org" meta.entityname="Air India" meta.hostid="83" meta.entityid="Air India">Air India</keyword>, a deal that will create one of the world's largest airline groups. With the clearance in place, the merger that will see Singapore Airlines acquiring a 25.1 per cent stake in Air India, is expected to be completed by the end of this year. The proposed merger was announced in November 2022. Air India is owned by <keyword id="19924335" type="General" weightage="20" keywordseo="Tata-Group" source="keywords" meta.keywordsubtype="org" meta.entityname="Tata Group" meta.hostid="83" meta.entityid="Tata Group">Tata Group</keyword> and Vistara is a 51:49 joint venture between Tatas and Singapore Airlines. In a regulatory filing on Friday, Singapore Airlines (SIA) said it has received approval from the Government of India for Foreign Direct Investment (FDI) into the enlarged Air India as part of the proposed merger. "The FDI approval, together with anti-trust and merger control clearances and approvals, as well as other governmental and <keyword id="19941849" type="General" weightage="20" keywordseo="regulatory-approvals" source="keywords">regulatory approvals</keyword> received to-date, represent a significant development towards the completion of the proposed merger," the airline said in the filing to the Singapore Stock Exchange. The airline also said the completion of the merger continues to be subject to compliance by the parties with applicable Indian laws, which is currently expected to be completed in the next few months. "At this juncture, completion of the proposed merger is anticipated to occur by the end of 2024," it added. According to Singapore Airlines, the parties are in discussions to extend the long stop date for the completion of the merger. Earlier, it was expected to be October 31, 2024. The merger, which will create one of the biggest airline groups, was approved by the National Company Law Tribunal (NCLT) in June. In March, Singapore's competition regulator CCCS gave a conditional nod for the proposed deal. Prior to that in September 2023, the deal received approval from the Competition Commission of India (CCI), subject to certain conditions. "SIA will make the necessary announcement(s) upon completion of the proposed merger or in the event that there are other significant developments," the filing said on Friday.

Singapore Airlines gets FDI nod from Indian govt for Vistara-Air India merger

<ul><li>IndiGo, Spicejet, and GoAir are making the most out of the grounding of Jet Airways.</li><li>Reduced competition allows the airlines to charge high fares despite fewer passengers.</li><li>Stock market investors lapping up shares of IndiGo and SpiceJet.</li></ul>The Indian airline sector is controlled by three 'low-cost' airlines-- IndiGo, SpiceJet, and GoAir. The three companies are expected to post record profits in the year ending March 2020, according to a latest report, despite falling passenger traffic. The irony has been brought to life by the scorching airfares. The Centre for Asia Pacific Aviation (CAPA) has estimated an annual profit of $400 million-500 million for IndiGo alone-- that is more than the profits last year for all three airlines put together. Within 12 months, SpiceJet's domestic market share could approach 25%, CAPA reportedly said. SpiceJet currently has 13% market share as much as the state-owned Air India, while IndiGo already controls half the market, leaving the rest for GoAir, Vistara, and Air Asia. 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
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 For instance, in the case of IndiGo, the average fare person grew 12% in the fourth quarter of 2019 whereas the number of seats occupied per flight fell 3%, compared to the same period a year earlier. 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
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 These low-cost airlines have benefited from the disappearance of Jet Airways flights from the skies. Once the full-service carrier got grounded, the likes of IndiGo, SpiceJet, and GoAir were quick to raise airfares so high that the number of passengers opting for flights came down. 
 
 
 
 
 
 
 
 
 
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 This has also led to spectacular rise in the stock prices of the listed airlines as investors look for a share in the quick buck made by other airlines after Jet spiralled to the ground. Today, India's low-cost airlines are more valuable than all their global peers. 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
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 The mad buying rush in airline stocks has led a global investment bank to issue a warning. HSBC has said that the consensus earnings forecast have risen too much ignoring some of the other industry risks. Everyone, except the government and the competition regulator, seems to have taken note of the market distortion. SEE ALSO: <a href="https://www.businessinsider.in/boeing-and-jet-airways-crisis-has-helped-indigo-lufthansa-and-singapore-airlines-but-hurt-indian-airline-traffic/articleshow/69001574.cms" data-type="tilCustomLink" target="_blank">The crises at Boeing and Jet Airways has brought India's air traffic growth to a grinding halt</a>

Indian airlines have more empty seats these days but their profits are soaring like never before-- and no one seems to care

<ul><li>Indian investors have lost nearly ₹5 lakh crore in the Indian stock market as it plummets under the aftershock of the <keyword id="1754604" type="PERSON" weightage="20" keywordseo="coronavirus">coronavirus</keyword> outbreak.</li><li>The <keyword id="53232" type="COMPANY" weightage="20" keywordseo="BSE-sensex">BSE Sensex</keyword> is down by 1,248 points and the NSE Nifty 50 has plunged by 363 points.</li><li>Tata Motors, Tata Steel and Bajaj Finance are among the worst hit in the stock market. </li></ul>Investors have lost nearly ₹5 lakh crore as the Indian stock market nose-dived on fears of extending pandemic of Coronavirus, today (February 28). Most of the stocks on BSE Sensex are trading in the red and, overall, the market is down by 1,248 points. The impact of the coronavirus has investors scrambling to hit the sell button on some of the top stocks in the Indian economy. Making matters worse, the outbreak of the virus currently shows no signs of slowing down. <a href="https://www.businessinsider.com/world-prepares-for-coronavirus-pandemic-global-recession-forecast-2020-2?IR=T">Researchers now fear a</a> global recession as the pandemic spreads to Italy, Iran and more. It’s raining red in the NSE Nifty 50 as well as it plunged by 363 points. The individual sectoral indices were in the red as well with the Nifty Bank index falling by over 1,000 points. The Nifty Metal index is headed for its biggest weekly fall since October 2008, when the global financial crisis was at its peak. “From extreme calmness to extreme pessimism, D-Street is also the victim of the virus outbreak in other countries,” said Umesh Mehta, head of research from Samco Securities. “However, when the entire world is blaming the coronavirus for the fall, we feel that valuations have a big part to play in this bearishness,” he added. According to PTI, the volatile equity market wiped out ₹4.7 lakh crore worth of investor wealth and the total market capitalisation dropped to ₹148 lakh crore from ₹152 lakh crore at market closing on Thursday. Here’s a look at the biggest losers on the BSE Sensex today: <table style="border-width: initial; border-style: none; width: 468pt; table-layout: fixed;"></colgroup></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Company </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Loss </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Tata Motors </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-9.41% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Tata Steel </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-7.59% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Bajaj Finance </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-6.06% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Tech Mahindra </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-5.51% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Infosys </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-5.06% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Axis Bank </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-3.94% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">SBI </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-3.84% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">HDFC </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-3.52 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">M&amp;M </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-3.40 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">TCS </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-3.39 </td></tr></tbody></table> Stocks like SBI Gold ETF, Gillette India, Hexaware Tech, Jubilant Industries and Baja Auto are concurrent losers having lost value consecutively over the last three days. The impact of the coronavirus on the Indian stock market is indicative of how the global market might be headed for turbulent waters as coronavirus continues to spread. The outbreak is already affected sectors associated with travel and tourism as travellers cancelled their flights to countries with reported infections. Moreso, global events like One Mobile Congress were cancelled and Facebook also cancelled its annual developers meet to be held in May. Shares of airlines companies have already taken a 10% plunge. Interglobe Aviation, IndiGo’s parent company, is down by 9.99% while SpiceJet fell by 6.06%. Rating agency ICRA notes that the outlook for airline stocks continues to look bleak in view of the outbreak. See also: <a href="https://www.businessinsider.in/business/corporates/news/sensex-sheds-1100-points-as-coronavirus-fear-grips-the-market-nifty-loses-335/articleshow/74372756.cms">Sensex sheds 1,100 points as coronavirus fear grips the market; Nifty loses 335</a> <a href="https://www.businessinsider.in/business/news/market-mayhem-continues-sensex-below-40k-level-as-virus-fears-grow/articleshow/74319579.cms">Market mayhem continues; Sensex below 40K level as virus fears grow</a>

Indian investors lose ₹5 lakh crore as the coronavirus sweeps over the stock market

New Delhi, Indian airlines are projected to record a consolidated loss of USD 1.6 to 1.8 billion in the next financial year, aviation consultancy CAPA India said on Monday. The full service carriers are expected to incur a loss of USD 1.1 to 1.2 billion. According to CAPA India, Indian airlines are estimated to have a net induction of 132 planes next fiscal and will take the total fleet of all carriers to around 816 aircraft. While announcing its outlook for 2023-24, CAPA India also said that more than 100 planes of various Indian carriers are on the ground due to supply chain and non-supply chain issues. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/adani-enterprises-rvnl-reliance-industries-among-stocks-to-watch/articleshow/98792050.cms">Sensex, Nifty50 plummet over 1% dragged down by metal, IT and auto stocks</a> <a href="https://www.businessinsider.in/tech/news/google-i/o-2023-pixel-7a-pixel-fold-pixel-tablet-android-14-and-everything-we-expect-to-see/articleshow/98798666.cms">Google I/O 2023 – Pixel 7a, Pixel Fold, Pixel Tablet, Android 14, and everything we expect to see</a> <a href="https://www.businessinsider.in/tech/mobile/news/oneplus-nord-ce-3-mobile-phone-leaks-ahead-of-launch/articleshow/98597456.cms">OnePlus Nord CE 3 leaks ahead of launch – specs, expected launch date and more</a>

Indian carriers to report $1.6-1.8 billion consolidated loss in FY24 says industry body CAPA

Malaysia Airlines shares were down nearly 16% in Friday trading as markets digested the aftermath of one its planes going down over Eastern Ukraine.
U.S. authorities say the Flight MH17, a Boeing 777, was shot down, though it was not yet known by whom.
It's not been a good year for the airline, which also saw its stock price suffer in the wake of flight MH370's disappearance over the Indian Ocean this past winter. Shares are down more than 40% over the last 12 months. Here's the chart:
<div class="KonaFilter image-container display-table"><div><div class="image">Bloomberg</div></div></div>

Malaysia Airlines Shares Tank

<ul><li>Jet Airways <keyword id="178658" type="POSITION" weightage="20" keywordseo="former-ceo">former CEO</keyword> Steve Forte advises banks against <keyword id="122732" type="PERSON" weightage="20" keywordseo="Naresh-Goyal">Naresh Goyal</keyword>'s offer. </li><li>Goyal's offer to invest additional₹ 700 crore to retain at least 25% stake. </li><li>Etihad offered a price 46% below Friday's (January 18) closing price and sought to oust Goyal.</li></ul> India’s oldest private airline, Jet Airways, is on the brink of a collapse, and there is a bitter battle for control underway between the two partners that own the company that has already defaulted on its debt. Steve Forte, the man who led Jet Airways for a couple of years until 2002, has a point to make about what is unfolding at the airline. “If Mr. Goyal's offer is accepted by the banks then nothing will change and the downward spiraling of Jet Airways will continue. The airline will burn through the new cash infusion just like it did with the initial infusion from Etihad and any other loans it received,” he <a href="https://economictimes.indiatimes.com/industry/transportation/airlines-/-aviation/a-jet-etihad-deal-wont-comfort-many-investors/articleshow/67615614.cms">told</a> the Economic Times (ET). Naresh Goyal has offered to invest up to ₹700 crore in the cash-strapped airline and sought to retain at least a 25% stake in the company. “Given Jet's outstanding debt (over ₹8,000 crore),₹700 crore from Mr. Goyal is a drop in the bucket,” according to Forte. In 2013, Etihad <a href="https://www.livemint.com/Companies/zY6HS6C2FeFMOncS2WeRML/Jet-AirwaysEithad-deal-may-finally-be-cleared-by-board.html" data-type="tilCustomLink" target="_blank">invested</a> more than ₹2,000 crore for a 24% stake in Jet at a considerable premium to its market value, arranged soft loans for the Indian airline, and paid its bills, ET reported. Naresh Goyal, the founding Chairman, remained at the helm and five years hence, the airline Not surprisingly, Etihad is bargaining hard this time. Reports suggest the Abu Dhabi-based partner has only offered to increase its stake in the cash-strapped airline by buying shares at only <a href="https://economictimes.indiatimes.com/industry/transportation/airlines-/-aviation/etihad-ceo-sets-tough-new-terms-for-jet-airways-bailout/articleshow/67551913.cms">₹150 a share</a>- a 46% discount to Jet’s current share price - and demanded the complete exit of owner Naresh Goyal and his family as well as the right to appoint a CEO. Meanwhile, Indian banks find themselves between a rock and a hard place. Aside from its concerns about Goyal’s leadership, Etihad will find it difficult to increase its bid for Jet, despite the potential of the Indian market, because of its own financial stress as well as the restrictions on foreign ownership of airlines in India. The anxiety will as much for the investors holding the shares of Jet Airways as the boardroom battle plays out. The stock has nearly 65% of its value in the last one year. See also: <a href="https://www.businessinsider.in/jet-airways-revival-delayed-by-etihads-hard-bargain/articleshow/67567581.cms">Jet Airways’ revival delayed by Etihad’s hard bargain</a> <a href="https://www.businessinsider.in/lenders-plan-to-keep-jet-airways-afloat-may-put-etihad-in-the-cockpit/articleshow/67451283.cms">Lenders’ plan to keep Jet Airways' afloat may put Etihad in the cockpit</a>

You Searched For "indian airlines stocks" and got 13 results

Within minutes, IndiGo’s shares nearly halve their losses since March-end after India allows local flights to resume from May 25⁠— SpiceJet soars too

Navdeep Yadav

A bankrupt airline's stock has soared 130% this year, even though it hasn't flown once in 2020

Theron Mohamed

Go First Gone: 11th private airline to 'drop' out of skies in a decade

IANS

Top stocks to watch – SpiceJet, InterGlobe Aviation, Tata Motors, Pfizer, Asian Paints, NIIT, Lupin, and others

Rounak Jain

One of India’s oldest airlines is now its smallest by fleet size

Dilsher Dhillon

Indian conglomerate Tata is in talks to buy out troubled carrier Jet Airways in a deal that could create one of the country's largest airlines

Dilsher Dhillon

The billionaires who want to fly Jet Airways are also the world's largest bus manufacturers

Preeti Soni

Singapore Airlines gets FDI nod from Indian govt for Vistara-Air India merger

PTI

Indian airlines have more empty seats these days but their profits are soaring like never before-- and no one seems to care

Sriram Iyer

Indian investors lose ₹5 lakh crore as the coronavirus sweeps over the stock market

Prabhjote Gill

Indian carriers to report $1.6-1.8 billion consolidated loss in FY24 says industry body CAPA

PTI

Malaysia Airlines Shares Tank

Rob Wile

A former Jet Airways insider says Naresh Goyal cannot run the airline

Sriram Iyer

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