GURUGRAM, August 19, 2021: In a step towards building passenger confidence as international travel picks up, SpiceJet will begin trial of IATA (International Air Transport Association) Travel Pass mobile app for digital health verification. The trial will be conducted on flights out of Mumbai to Male effective August 23, 2021.
The IATA Travel Pass is a mobile application that helps travellers to store and manage their verified certifications for Covid-19 tests or vaccinations. The Travel Pass will manage and verify the traveller’s COVID-19 status in line with governments’ health and border requirements.
In another significant development, SpiceHealth has been on-boarded by IATA as a lab partner for the Travel Pass trial. SpiceHealth is a healthcare company founded by the promoters of SpiceJet.
SpiceHealth has emerged as the fastest-growing diagnostic lab in the country – having conducted more than 3.5 million RT-PCR tests since its launch in November 2020. SpiceHealth laboratories are accredited by National Accreditation Board for Testing and Calibration Laboratories and Indian Council of Medical Research. SpiceHealth currently operates 21 labs and collection centers for RT-PCR and rapid antigen testing spread across eleven cities in India. Besides, the Company also operates seven vaccination centers across five states.
As international travel restarts, passengers will need accurate Covid-19 information and the IATA Travel Pass provides governments with the means to verify the authenticity of tests or vaccinations, airlines with the ability to provide accurate information to their passengers on test requirements and verify that a passenger meets the requirements for travel and travellers with accurate information on test requirements, where they can get tested, and the means to securely convey their travel health credentials to airlines and border authorities.
SpiceJet has been innovating constantly to enhance customer experience while offering a safe and comfortable journey. SpiceJet was the first airline to introduce Zero Change Fee in March 2021. The airline had earlier introduced a COVID insurance cover including tests, medication and consultations upon testing positive for COVID-19. The airline also introduced SpiceJet Extra seat which allows passengers the option to book two or more seats to make their travel more comfortable and hassle-free.
SpiceJet of India (SPICEJET.BO) has added two more wide-body planes – a Boeing 767 and Airbus A330 – to its cargo fleet. With the latest induction, SpiceJet will have a dedicated fleet of 19 cargo aircraft, including five wide-body jets. Other than the wide-body aircraft, SpiceJet’s cargo fleet includes five Boeing 737 freighters and nine Q-400’s.
The two wide-body cargo aircraft that have been inducted would primarily be used for transporting cargo goods, medical and essential supplies on long-haul routes including to destinations in Europe and North America. With the latest induction, SpiceXpress, the airline’s cargo arm, aims to further strengthen its cargo fleet while providing a seamless and secure transportation of Covid-19 vaccine.
SpiceJet had recently tied-up with Brussels Airport for providing seamless transportation of Covid-19 vaccine between India and Europe and beyond.
With a network spanning 54 domestic and 45 international destinations and a fleet of 19 cargo planes, SpiceXpress is capable of flying over 600 tonnes of cargo per day to both domestic and a wide list of international destinations. The airline has also tied up with global leaders in cold chain solutions offering active and passive packaging with dedicated equipment to perform seamless cold chain operations.
Ever since the lockdown began, SpiceJet and its cargo arm, SpiceXpress, has played a critical role and worked relentlessly to ensure that the country’s supply chain remained intact. The airline has helped in the transportation of vital goods and medical supplies to all corners of India and the world. SpiceJet has operated 12,950 cargo flights since the lockdown began and carried around 105,200 tonnes of cargo.
(Reuters) – United Airlines Holdings Inc <UAL> said on Tuesday it expects a non-cash impairment charge of $90 million in the fourth quarter related to its Hong Kong routes, following anti-government protests in the city.
The Hong Kong protests escalated in June over a now-withdrawn extradition bill, but have since developed into a broader movement.
“Due to a decrease in demand for the Hong Kong market and the resulting decrease in unit revenue, the company determined that the value of its Hong Kong routes had been fully impaired,” the U.S. carrier said.
Several airlines including India’s SpiceJet Ltd <SPJT>, Malaysia’s AirAsia Group Bhd <AIABF>, South Korea’s JejuAir Co Ltd <089590> reduced the number of flights to the city in the fourth quarter as the protests grew increasingly violent, disrupting daily life.
(Reporting by Ankit Ajmera in Bengaluru; Editing by Shounak Dasgupta)
NEW DELHI/BENGALURU (Reuters) – India’s SpiceJet Ltd could benefit from cash-strapped Jet Airways being forced to ground planes, and the low-cost carrier is in talks with lessors to lease some of those aircraft, a person with direct knowledge of the matter told Reuters.
Shares of SpiceJet rose as much as 7.2 percent on Wednesday in their biggest percentage gain since Dec. 18 as investors bet the airline could take advantage of Jet Airways’ woes.
SpiceJet last week was forced to ground its 12 Boeing Co 737 MAX 8 planes by India’s aviation watchdog, following safety concerns after the Ethiopian Airlines plane crash that killed 157 people.
SpiceJet and Jet Airways are the only carriers in India that operate this type of aircraft and have a total of about 400 on order. The airlines also operate the previous model, the 737-800 among other Boeing planes.
The 737-800 makes up the majority of the Jet Airways fleet, and the airline is now operating only 41 aircraft, the Directorate General of Civil Aviation (DGCA) said on Tuesday.
That means around two-thirds of its fleet is grounded for non-payment to lessors, maintenance or other reasons.
“Lessors are panicking as they haven’t been paid and if Jet goes for insolvency, their planes will be stuck in India, so many of them are chasing SpiceJet,” said the person quoted earlier.
The person said SpiceJet needs at least twelve 737s to cover the grounded MAX planes and it is negotiating for more. Jet Airways pilots are also queuing up to join the budget airline.
Jet Airways’ lessors have offered 50 aircraft to SpiceJet, according to a report by news wire IANS.
SpiceJet and Jet Airways did not immediately respond to a request for comment.
Jet Airways shares dropped about 7 percent on Wednesday as its financial crisis deepened, with the Indian government calling for an emergency meeting and pilots threatening to go on strike over unpaid salaries.
The government has asked state-run banks to rescue Jet Airways without pushing it into bankruptcy, two people within the administration have told Reuters, as Prime Minister Narendra Modi seeks to avert thousands of job losses weeks before a general election.
The 25-year-old airline has defaulted on loans after racking up over $1 billion in debt, and owes money to banks, suppliers, pilots and lessors – some of whom have started terminating their lease deals with the carrier.
This has forced Jet Airways to cancel hundreds of flights, leaving passengers stranded and angry. The number of Jet Airways flights has fallen by 80 percent from a year ago, according to the DGCA.
(By Aditi Shah and Tanvi Mehta, Additional reporting by Arnab Paul in Bengaluru, Editing by Sherry Jacob-Phillips and Shreejay Sinha)
FILE PHOTO: A Jet Airways passenger aircraft takes off from the airport in Ahmedabad, August 12, 2013. REUTERS/Amit Dave/File Photo
(Reuters) – Jet Airways Ltd, India’s biggest full-service carrier, has been under dark clouds for the most part of the past year, and several efforts are on to save the sinking airline.
While intense pricing competition, weak rupee and rising fuel costs have hurt Indian airlines like IndiGo owned by InterGlobe Aviation Ltd and SpiceJet Ltd, Jet Airways is in a league of its own.
Saddled with a debt of about 80.52 billion rupees ($1.14 billion) as of Sept. 30, Jet is desperately searching for a deal that could help mitigate its severe liquidity crunch. The airline has a market capitalisation of 28.81 billion rupees as of Friday’s close.
Here’s how Jet has fared:
May 3 – Jet shares fall 12.3 percent after InterGlobe Aviation reported a slump in net profit for March-quarter a day earlier
May 23 – Jet posts first quarterly loss in at least 12 quarters, says it has a negative net worth that ‘may create uncertainties’
Aug 1 – Media report says Jet asked employees to take an up to 25 percent cut in salaries as a part of a cost cutting measure
Aug 3 – Jet denies report that it cannot fly beyond 60 days, and dismisses conjecture of stake sale
Aug 9 – Airline defers board meet for first-quarter results
Aug 11 – After State Bank of India chairman says Jet’s loan is on the bank’s watch list, Jet says it is regular in payment obligations to all banks
Aug 13 – Airline reaffirms that it is considering various options to meet its funding requirements
Aug 15 – Report says U.S. private equity firm Blackstone Group LP is in talks to buy a stake in Jet’s frequent-flier loyalty programme JetPrivilege
Aug 20 – Sources tell Reuters that private equity firm TPG Capital is considering investing in Jet, but is not close to finalising a deal
Aug 27 – Jet posts loss for the June-quarter, says it will inject funds and cut costs by more than 20 billion rupees in two years
Sept 4 – Government plans relief package for airlines
Sept 6 – Jet says it paid salaries to 84 percent of its employees after reports emerge that pilots warned ‘non-cooperation’ over salary default
Sept 20 – Income Tax department conducts survey at Jet’s premises
• Over two dozen passengers on a Jet flight are treated for minor injuries after the plane loses cabin pressure
Oct 4 – Rating agency ICRA downgrades the company’s long term loans and NCDs, citing impact of steep increase in jet fuel prices, rupee depreciation, delay in implementation of liquidity initiatives
Oct 18 – Report says Indian conglomerate Tata Group is in talks to buy stake in Jet. Jet calls report “speculative”
Oct 30 – U.S.-based Delta Air Lines Inc expresses interest to buy Jet stake from promoter Naresh Goyal and Etihad Airways
Nov 5 – Report says Tata aims to buy the 51 percent stake in the airline owned by Naresh Goyal, and Etihad Airways’ 24 percent stake, and merge Jet with Vistara
Nov 12 – Jet posts third straight quarterly loss, chief executive officer Vinay Dube expresses confidence in overcoming current challenges
Nov 13 – Tata Sons begins due diligence to buy Jet, reports say
Jet executive says company is in talks with multiple parties for a stake sale in its loyalty program, and equity infusion in the airline
Nov 15 – Shares surge nearly 25 percent following reports that the debt-laden airline was nearing a rescue deal with Tata Sons; another report says the Indian government asked Tata to explore buying Jet
Nov 16 – Tata Sons says discussions on Jet is preliminary and no proposal has been made
Nov 20 – Tata Sons may go slow on Jet deal after some directors from Tata’s board expressed concerns, according to media reports
Nov 21 – The airline says news on Naresh Goyal, Etihad discussing merger of JetPrivilege with Jet Airways is speculative
Nov 22 – Independent director Ranjan Mathai resigns, citing rising pressure from other commitments
Nov 26 – Report says Naresh Goyal may hand over Jet Airways ops to Etihad Airways
Dec 3 – Jet says it will stop providing free meals to most domestic economy class passengers from January, in its latest move to cut costs and boost revenues
Dec 5 – Jet and Etihad Airways have been holding rescue talks with Jet’s bankers, sources tell Reuters
Dec 6 – Jet tells its pilot union it will clear all salary dues by April, and gives them schedule outlining when the payments will be made, source tells Reuters
Dec 7 – ICRA cuts Jet rating yet again, cites delays in implementation of the proposed liquidity initiatives by Jet’s management
Dec 14 – Goyal’s penchant for control has come up as a major obstacle as the airline tries to negotiate a rescue deal, several people who have worked closely with him or known him over the years tell Reuters
Jan 2 – The airline says it has delayed payment to a consortium of Indian banks, led by SBI; ICRA cuts rating again
Jan 10 – Jet proposes to creditors that it will catch up with debt payments in arrears by September and from April will meet debt payments as they come due, according to a document seen by Reuters
Jan 11 – Crisis talks between Jet and aircraft lessors have failed to ease a row over late payments, prompting some lessors to explore taking back aircraft, three people familiar with the matter tell Reuters. Etihad is not “in any position to sink new equity into Jet at this juncture,” says a person familiar with Etihad’s position.
($1 = 70.5090 rupees)
(Compiled by Arnab Paul and Chris Thomas in Bengaluru; Editing by Gopakumar Warrier)
HYDERABAD (Reuters) – Indian airlines Jet Airways, SpiceJet Ltd and AirAsia India are planning to add new jets to their fleets as they look to expand in the world’s fastest-growing aviation market, the carriers said on Thursday.
Domestic Indian passenger traffic increased by 17.9 percent in January from a year earlier, marking the 41st consecutive month of double-digit growth, the International Air Transport Association said in a monthly update released on Thursday.
Indian carrier SpiceJet is looking to add commuter routes to the more remote parts of the country. The ability to provide these essential air services are hampered by the lack of infrastructure and existing airfields available. The airline has been working with Setouchi Holdings of Japan on test runs of seaplane operations at Mumbai’s Girgaum Chowpatty beach, as well as land operations to Nagpur and Guwahati.
SpiceJet is India’s third largest airline by passengers carried. Operating a fleet of newer Boeing 737 and Bombardier Q-400 aircraft has helped the airline to maintain its low-cost structure. The company currently operates 306 daily flights to 35 local and 6 international destinations, and operates hubs in Delhi and Hyderabad. In March of 2014, the airline signed a firm order for 42 Boeing 737 MAX 8 aircraft. This has been followed by orders for an additional 113 of the 737 Max 8’s. SpiceJet also signed a letter of intent at the 2017 Paris Air Show with Bombardier to purchase up to 50 Q400 aircraft to support growth in its feeder connectivity.
The feeder route network is where the partnership with Setouchi Holdings comes into focus. Setouchi Holdings owns Quest Aircraft, which manufacturers the Kodiak small commuter aircraft that can operate both on unimproved airfields, and as an amphibious aircraft fixed with pontoons. Quest Aircraft Company is located in Sandpoint, Idaho, and was purchased by the Japanese Holding Company in February of 2015.
