Tuesday, 30 April 2013



The former chief financial officer of Qantas Airways is being tipped to take over as CEO of India's Jet Airways following a deal that saw Etihad Airways take a 24 percent stake last week.

According to LiveMint.com with cited sources close to the companies, Gary Toomey, an Australian, is slated to replace Greek-American Nikos Kardassis at the helm of India’s second largest airline.

The change at the top follows the announcement by Etihad Airways that it has agreed to buy the stake in Jet Airways for $379m.

Source: Arabian Business.com




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Sunday, 28 April 2013




Boeing expects to resume deliveries of the grounded 787 by early May and to complete its battery fix for the high-tech plane by mid-month, company chief Jim McNerney said on Wednesday.


In an upbeat conference call after reporting robust first-quarter earnings, McNerney said that the company began installing its redesigned battery system “immediately” after receiving Federal Aviation Administration approval.

 The FAA Friday approved Boeing’s solution to the problematic lithium-ion batteries, which include replacing them and their chargers with modified components and installing a steel enclosure system to contain any overheating.

 The decision cleared a key hurdle for the 787 to return to service after three months of being grounded worldwide following two incidents of battery overheating.
So far, Boeing has begun installations on 10 aircraft owned by airlines and nine planes being readied for delivery, said McNerney, Boeing chairman, president and chief executive.

 “We expect to complete the bulk of fleet retrofits by mid-May... and deliveries are expected to resume in early May,” he said.

 The FAA will have to approve the installations on US airlines before allowing the plane to fly again. United Airlines has six 787s, the sole US carrier owning the Dreamliner.
Boeing had to come up with a fix after two battery incidents led to the global grounding of all 50 787s in service in mid-January.

 On January 7 a fire erupted in the battery area of a Japan Air Lines 787 parked at a Boston airport.

 Then on January 16 battery fumes forced an emergency landing of an All Nippon Airways 787 in Japan, prompting the global grounding and international investigations into the cause of the problem.

 McNerney said that despite the three-month delivery suspension, the company still expects to meet its target of more than 60 787 deliveries during 2013. Only one has been delivered so far, to Air India in January before the grounding.

 Boeing also confirmed its plan to ramp up 787 production to 10 per month by year-end, double the current pace.

 Net income soared to $1.1 billion in the first quarter, up 20 percent from the year-earlier period, while revenues declined 3 percent to $18.9 billion, the aerospace and defense giant reported early Wednesday.

 Higher deliveries of the 777 and 737 models offset the freeze on 787 deliveries, it said.
Core earnings, which exclude pension and post-retirement expenses, were $1.73 per share, well above analyst expectations of $1.48 per share.

 On the New York Stock Exchange, Dow member Boeing rose 3.1 percent to $90.93, closing near the top end of its 52-week range.

 The company did not reveal how much the 787 battery episode will cost it.

 McNerney declined to provide details about any compensation claims from airline customers because of the groundings.

 Chief financial officer Greg Smith said the costs of determining the cause of the 787 problems and implementing the fix were “minor” but declined to provide a specific estimate.

 Smith underscored that Boeing would work with customers. “There’s a variety of ways to insure the disruption doesn’t hurt their results and operations.”
The CFO estimated the 787 program would break even, on a per unit basis, “about two years from now.”




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Wednesday, 24 April 2013


Jet Airways Selling Stake To Etihad For 20.6 Billion Rupees


MUMBAI/DUBAI (Reuters) - Fast-growing Etihad Airways is taking almost a quarter stake in Jet Airways (JET.NS), giving it a bigger foothold in the fast-growing Indian market.
The $379 million investment is the first by an overseas operator in an Indian airline since ownership rules were relaxed and provides India's largest carrier with a deep-pocketed global partner as well as cash to retire debt.
Etihad, which has minority stakes four other carriers including Air Berlin (AB1.DE) and Virgin Australia(VAH.AX), has been expanding quickly as it competes with regional rivals Qatar Airways and Emirates, which carries a significant share of the Indian traffic to Gulf and beyond.
"It's a game-changing opportunity for Etihad, and a game-changing opportunity for India," Kapil Kaul, regional head of the Centre for Asia Pacific Aviation (CAPA), told Reuters.
Kaul said Jet would benefit from strategic expertise, cheap financing and possible fuel import benefits in addition to the capital injection.
"It (the deal) is expected to bring immediate revenue growth and cost synergy opportunities, with our initial estimates of a contribution of several hundred million dollars for both airlines over the next five years," said James Hogan, Etihad's chief executive.
As part of the agreement Jet will establish a hub in Abu Dhabi and expand its reach through Etihad's global network while the airlines will also expand existing operations and introduce new routes between India and the Gulf.
The deal, finalised after months of negotiations, is a vindication for the government which has struggled to attract overseas companies wary of regulatory uncertainty and bureaucratic red tape.
Etihad will buy 27.3 million new shares of Jet at 754.74 rupees per share, a 31.7 percent premium to Jet's closing share price on Tuesday, and acquire 24 percent of Jet's expanded share capital.
Etihad will also invest an additional $150 million in Jet's frequent flyer programme and spend $70 million to buy Jet's three pairs of Heathrow slots through the sale and leaseback agreement announced in February.
Jet owner Naresh Goyal will hold 51 percent of the airline after the deal.
"The price is good for Jet. I think Etihad may have paid over the odds slightly, but with Kingfisher out of the picture there is only one full service heavyweight in town, and that's Jet," said Sudeep Ghai, partner at consultancy Athena Aviation.
The deal sets a valuation benchmark for further investment in Indian airlines, with budget carrier SpiceJet Ltd (SPJT.BO) frequently the subject of stake sale reports.
Jet shares have had a turbulent ride in recent months as talks with Etihad dragged on.
The stock is up about 70 percent since November, after media reports about a possible stake sale.
Despite high growth potential, India has been a tough aviation market in recent years, although competition has eased since former No.2 Kingfisher Airways (KING.NS) stopped flying late last year, dragged down by debt and cash-flow problems.
The premium paid by Etihad is sharply higher than the 5.5 percent premium Singapore Airlines Ltd (SIAL.SI) paid to lift its stake in Virgin Australia Holdings Ltd (VAH.AX) to 19.9 percent in another deal announced on Wednesday.
"This transaction further strengthens the balance sheet of Jet Airways and, more importantly, underpins future revenue streams, which will accelerate our return to sustainable profitability and liquidity," Goyal said.
Bank of America Merrill Lynch (BAC.N) and Credit Suisse (CSGN.VX) advised Jet on the deal, while HSBC (HSBA.L) was the adviser for Etihad, several sources said.
(Additional reporting by Henry Foy in MUMBAI and Stanley Carvalho in ABU DHABI; Editing by David Cowell).
By : Sumeet Chatterjee and Praveen Menon




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Monday, 22 April 2013

Israel Passes Open Skies Despite Protests



An agreement to allow unrestricted air services between Europe and Israel has been passed by the country’s parliament despite angry protests from airline workers who claim it could lead to job losses.

"The goal of the reform we approved today is to reduce the costs of flights to and from Israel and to increase incoming tourism," Prime Minister Benjamin Netanyahu said in a statement, adding that the deal had been under discussion for "many years."

The agreement, which was signed in March 2012, will give European carriers unrestricted access to points in Israel and affords Israeli carriers the same blanket access to the airports of all European states.

In its continuing expansion of Europe’s Common Aviation Area (CAA), the European Commission now aims to close deals with Ukraine and Azerbaijan, a commission official told Routes News.

“With Ukraine, our hope is that we could finalise that this year,” said the official. “The same for Azerbaijan. We hope to finalise it by the end of this year.”

Under its neighbourhood policy, the European Union is seeking rapid, comprehensive liberalisation of air markets with states to the South and East of the trade bloc.

Yet Israel negotiated a gradual opening of its aviation sector.

Despite the alarm of airline workers in Israel, the EU-Israel air transport market will only be fully open in 2018, 10 years after negotiations between the EU and Israel began.

Source: Routes





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Air India's Dreamliners To Be Operational By 

Middle Of May




Air India hopes to get its Boeing 787 operating on domestic routes from the middle of May and start long-haul international flights linking Paris and Frankfurt by the end of May.

This follows the Federal Aviation Administration (FAA) approving a new battery design for the Boeing 787. A fault in the battery saw the FAA ground the latest civilian aircraft globally on January 17. The move saw Air India, All Nippon Airways, Japan Airlines, Lan Chile and a few other airlines ground their entire fleet of Boeing 787.

The airlines which have the Boeing 787 will now have to wait for the FAA to issue an Airworthiness Directive (AD), which should be issued in the next few days before they can start work on getting the aircraft back in the air.


After the AD is issued, Air India will wait for the arrival of engineers from Boeing to start work on the Boeing 787. The new tools for installing the batteries have arrived and the new batteries will arrive in the next few days. We hope to work on two aircraft at a time,” a senior AI official said. The airline has six Boeing 787 in its fleet. It is likely to take up to a week to finish work on each aircraft.

Source: The Hindu


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Saturday, 20 April 2013



The promoter of now defunct Kingfisher Airlines -- Vijay Mallya -- has been planning to re-launch it, sources said on Wednesday.

According to Kingfisher management sources, Mallya has been hopeful of an infusion of Rs.800 crore by a foreign entity, while the talks with British liquor maker Diageo Plc were still on.

Mallya, who is also the promoter of United Spirits Ltd (USL), had signed a deal with Diageo to sell his controlling stake in the company. Diageo would also pick up another 26 per cent through mandatory open offer.

Kingfisher management sources claimed to have got a nod from the Director General of Civil Aviation (DGCA) to go ahead with its pilot training programme ahead of the airline's re-launch.

Source: India Today




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Friday, 19 April 2013



Two pilots of an Air India flight, which landed at Mumbai airport last Friday without air traffic control (ATC) clearance, have been suspended.
"Pending the enquiry, the Air India management had suspended both the pilot and the co-pilot. They will not fly again till they come clean," a senior airline official said.

He said if they are found guilty, then further action would be taken against them.

Air India flight AI-944 from Abu Dhabi had reportedly landed at the Mumbai airport on Friday morning without the requisite clearance from the ATC.
Also, within 60 nautical miles of landing, the aircraft had changed its communication frequency, allegedly flouting laid-down procedures.

Source: Business Standard



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If you fail to board after checking in at Mumbai airport, don’t expect the airline to call out your name and keep the flight waiting.

In keeping with international norms, the public address system at the domestic wing of the Chhatrapati Shivaji International Airport has been shut down. The idea is to check noise pollution, says Mumbai International Airport Limited.

“We can’t be minders for passengers, telling them what to do over a PA system all the time,” an MIAL official said.

“They know the flight timings — they’re on the display board. Any changes to the departure time or (designated) boarding gate are notified there. Nowhere in the world do people constantly blare out instructions over a PA system.”

Source: Telegraph



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Monday, 15 April 2013



UK airport security authorities detained a PIA female flight attendant carrying several mobile phones in her hand bag at Manchester Airport when she was going to board Lahore bound flight PK-710last week, TheNation learnt on Wednesday.
PIA spokesman Tajwar said that an inquiry was underway against the flight attendant and action would be taken according to rules and regulation.

On April 2, 2013 security officials at Manchester Airport found several mobile phones in PIA flight purser Nargis Shaheen’s hand bag and detained her for interrogations. She arrived in Pakistan next day by PIA flight PK-702 from Manchester to Islamabad. Security officer questioned her why she was carrying so many mobiles. She said that the bag was handed over to her by a relative and she was supposed to deliver it to latter’s family member in Pakistan. A senior PIA officer said that it was common practice among the PIA cabin crew members that they were involved in smuggling of mobile phones and cigarettes from and to European destinations.

He said that in Europe smugglers visit them and hand over their baggage to deliver in Pakistan against heavy payments. “Crew members earn money by offering this service.”

He said that crew members were allowed to carry one suitcase and one hand bag only. Female crew carry empty suitcase and hand bag from Pakistan and bring it filled with goods and earn up to Rs100,000.

Earlier, crew members were assigned duties on international flights on recommendations of influential officers. But now Ijaz Mazhar has introduced auto roaster which assigns international flight to crew on merit.

Source: the Nation



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Sunday, 14 April 2013

Mumbai came close to an aviation disaster on Friday morning when an Air India aircraft landed at the busy cross-runway airport without clearance. Luckily, there was no other aircraft movement on the runway or approach funnel at the time.

Flight AI 944 was coming from Abu Dhabi with 81 passengers and took air traffic controllers by surprise when it landed there around 7am. Director general of civil aviation (DGCA) Arun Mishra confirmed the incident and said both the pilot and co-pilot have been de-rostered.

"We are probing the case," Mishra said.

A senior ATC official said controllers in the tower frantically tried to get in touch with the aircraft when they saw it on the radar approaching to land without any clearance.

"ATCs in both the tower and approach control tried to contact the aircraft. Either our voice did not reach them or they chose to ignore our communication. It needs to be found out whether the aircraft's communication set was working. It is unimaginable in a place like Mumbai that a plane just saunters in," said the official.

"The plane landed as per procedure," said an AI spokesperson.

Source: Times of India



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