Pratt & Whitney tips

Spirit Airlines has announced two major changes to help shore up its balance sheet. 

Spirit Airlines CEO Ted Christie told shareholders at an annual meeting Friday morning that the carrier is not considering a Chapter 11 bankruptcy — an outcome analysts have speculated about since the proposed merger with JetBlue collapsed. 

As the airline industry enjoys an enduring surge in demand for premium and international travel, JetBlue is taking a hit. 

Spirit Airlines is expecting to receive anywhere from $150 million to $200 million in compensation for grounding some of its planes due to issues with Pratt & Whitney engines. 

It’s been a rough few years for Spirit Airlines. 

MakeMyTrip reported its highest-ever quarterly gross bookings, revenue, and profit in its third quarter for fiscal year 2024.

Spirit Airlines was once a golden child of the airline industry. But now that a judge has blocked its proposed merger with JetBlue, Spirit is on its own to deal with declining revenues and rising operating costs. 

First time drop-in SAF is used on an A380 with full compatibility across the aircraft’s existing system.

IndiGo, India’s largest airline by fleet size and domestic market share, is also one of the largest Airbus customers. Its fleet of 332 aircraft consists of 289 A320 family aircraft. And it has 954 A320/A321neo aircraft pending delivery. 

India’s domestic air traffic has hit a record high with 456,082 passengers flying on a single day, the civil aviation ministry said in a tweet. The ministry’s data shows a total of 456,082 passengers flew via 2,978 flights on April 30 and there were a total of 5,947 flight movements. “Indian domestic air travel hits new high, surpasses pre-Covid average,” it tweeted. The ministry referenced the May 1 numbers, said 448,248 passengers had taken to the skies via 2,936 flights. The rebound in India’s aviation industry comes after heavy losses faced by the industry in the past Covid-hit years. The global airline trade body, the International Air Transport Association’s latest market analysis report shows India is in the process of becoming a key global aviation market outpacing other thriving markets like the U.S., China, and Japan in passenger load factor at 81.6 percent in February 2023. With India’s air passenger traffic expected to reach 395 million in 2023-24, the country seems to have solidified its position as the world’s third largest aviation market. Credit rating agency ICRA had also recently revised its outlook on the Indian aviation industry to stable from negative due to the fast-paced recovery in domestic passenger traffic. Indian airlines have witnessed an annual growth of 51.7 percentin passenger traffic during January-March 2023 as compared to the corresponding period last year, according to Indian aviation watchdog Directorate General of Civil Aviation. Domestic airlines carried 375.04 lakh passengers between January-March 2023, as against 247.23 lakh in the same period last year. 

Indian low-cost carrier GoFirst filed for bankruptcy with the National Company Law Tribunal on Tuesday, citing mounting losses due to the grounding of almost half of its aircraft.