India’s Jet Airways is close to a deal to buy 50 A220 jets from Airbus, news reporters Reuters reported, citing two people familiar with the matter.
Once a significant player in the Indian aviation space, Jet Airways has not flown since April 17, 2019, and is being restored under the ownership of the Jalan-Kalrock consortium.
Directorate General of Civil Aviation On Jet Airline
Earlier this year, it got its air operator certificate revalidated by the aviation safety regulator DGCA. In a June statement, Press Trust of India, citing sources, had reported that Jet Airways will be initially flying on domestic routes only.
Jet Airways will find a new rival in Akasa Air
Jet Airways will find a new rival in Akasa Air, which is expected to begin operations soon.
Backed by billionaire Rakesh Jhunjhunwala, Akasa received its flying license from the aviation regulator Directorate General of Civil Aviation (DGCA)after successfully working on test flights.
The low-cost airline, which took delivery of its first Boeing Co. 737 Max jet last month, intends to begin operations with two aircraft.
Akasa will add 18 jets by the end of the year ending March 2023 and then induct 12 to 14 aircraft every year, bringing its fleet to a total of 72 planes over five years.
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Akasa’s other backers include Aditya Ghosh, the executive who spearheaded low-cost carrier IndiGo for almost ten years.
After acquiring Air India last year, the Tata Group is reportedly also now in discussions with Boeing and Airbus to place a sizeable order.
Even as the passenger numbers are rising amid the receding pandemic, rising aviation turbine fuel (ATF) costs due to the Russia-Ukraine war are hurting the profitability of Indian carriers
In a recent report, rating agency ICRA told while the passenger numbers are recovering after the pandemic, elevated ATF (aviation turbine fuel) costs will resume weighing on the revenues of Indian carriers in 2022-2023.
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