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747-237
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 Posted: Sat Dec 06, 2014 7:27 am Post subject: |
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http://www.newindianexpress.com/business/news/SpiceJet-Faces-Headwinds-as-DGCA-Cancels-186-Slots/2014/12/06/article2558109.ece
SpiceJet Faces Headwinds as DGCA Cancels 186 Slots
06th December 2014
Directorate General of Civil Aviation (DGCA) on Friday today withdrew 186 slots of the Gurgaon-based carrier.
According to reports, 93 arrival and departure slots each have been withdrawn.
According to DGCA. SpiceJet will undergo a daily audit that will determine the future of the company itself. From operating around 345 flights (per day) in September 2014, the airline is currently operating only 232 flights.
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747-237
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| Posted: Mon Dec 08, 2014 8:11 pm Post subject: |
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SpiceJet today informed the DGCA and the public that for the near-medium term, it intends to operate a fleet of 22 Boeing 737s and 15 Q400s, down from 37 B737s that we operated earlier this year (Q400 fleet remains unchanged). As a natural consequence of the fleet reduction of 15 Boeings, unused slots are given back to the airports.
http://centreforaviation.com/members/direct-news/flyspicejet-199994
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747-237
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Nimish
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| Posted: Sun Dec 14, 2014 1:17 pm Post subject: |
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^^ The neon signs are on!
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747-237
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| Posted: Mon Dec 15, 2014 2:24 pm Post subject: |
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http://www.business-standard.com/article/companies/spicejet-stops-inflight-meal-service-114121500343_1.html
SpiceJet stops inflight meal service
December 15, 2014
SpiceJet has stopped serving meals and beverages on board its flights in a sign of deepening financial crisis.
The airline wrote to its cabin crew on Sunday it will not uplift perishable and non-perishable items on all its flights till further notice due to "technical reasons." Cabin crew have also been instructed to apologise to passengers for inconvenience and provide feedback forms in case a passenger seeks a refund for pre-booked meals.
TajSATS and Cafe Coffee Day provide inflight food and beverage for SpiceJet across its network.
SpiceJet declined to comment.
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747-237
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| Posted: Mon Dec 15, 2014 4:53 pm Post subject: |
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http://www.livemint.com/Companies/1twf3MTXDSrE2flxQjRm6O/SpiceJet-warns-empolyees-it-may-have-to-cease-operations.html
SpiceJet warns employees of potential disruptions in operations
Dec 15 2014
In an email to pilots early in the morning on Monday, cash-strapped budget airline SpiceJet Ltd said its operations may be disrupted if it is not able to address concerns of India’s civil aviation regulator.
“COO (chief operating officer) has a very crucial meeting with the ministry of civil aviation today (Monday). The meeting may effectively determine the future of our company,” said Sandeep Varma, senior vice-president and head of flight operations.
“If all goes well, then we can expect to continue operations smoothly and as planned.”
“If for any reason, all does not go well, then you should expect the following. You will get a phone call from a senior management pilot from the head office (either from roster cell phone or landline). He will brief you in detail as to the situation and the necessary further action. Please do exactly as briefed,” Varma said in the email, adding, “Depending on the nature of the future action, we will stay in constant communication with you and support you. All SpiceJet staff will also be in communication and support of you at that time.”
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747-237
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| Posted: Mon Dec 15, 2014 6:45 pm Post subject: |
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http://timesofindia.indiatimes.com/business/india-business/SpiceJet-seeks-urgent-financial-help-from-govt/articleshow/45524041.cms
SpiceJet seeks urgent financial help from govt
Dec 15, 2014
Suffering a total liability of about Rs 2,000 crore, beleaguered no-frill carrier SpiceJet today approached the government and sought urgent financial help to run its daily operations.
Top officials of the airline met minister of state for civil aviation Mahesh Sharma and made the plea for "urgent relief".
The minister said any such decision could be taken by the "highest level" in the government and said the request of SpiceJet would be put up before the Prime Minister's Office and the ministries of finance and petroleum.
"No assurance has been given to them," Sharma told reporters after the meeting.
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iah87
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| Posted: Mon Dec 15, 2014 11:01 pm Post subject: |
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I have a suggestion. Merge Spice with AI and now we will have a company with a bigger loss. |
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Nimish
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| Posted: Mon Dec 15, 2014 11:09 pm Post subject: |
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I think the Govt has decided not to help - they've asked SG to come back with some funding proposal in the next 2-3 days.
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747-237
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vikramv2
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Jeh
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| Posted: Tue Dec 16, 2014 10:06 am Post subject: |
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| vikramv2 wrote: | | There are no SG flights this morning...Have they suspended ops? No flights showing up in flightradar 24 |
Indeed, nothing on FR24! That was quicker than I expected. |
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747-237
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vikramv2
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ab
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| Posted: Tue Dec 16, 2014 8:05 pm Post subject: |
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| 747-237 wrote: | http://timesofindia.indiatimes.com/business/india-business/SpiceJet-seeks-urgent-financial-help-from-govt/articleshow/45524041.cms
[i]SpiceJet seeks urgent financial help from govt
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Why the promoters are not ready to pump money? Why should the government interfere and try to save the airline? The government has more important things to do. |
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basheer1211
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| Posted: Tue Dec 16, 2014 8:19 pm Post subject: |
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Govt's helping hand provides SpiceJet relief till the new year
| Quote: | The Government has given a breather to SpiceJet till the new year. Though top officials of the ministry of civil aviation insisted today that no bailout package has been given or even considered for any one airline, they said SpiceJet needed some reprieve to continue operations which has been provided.
Interestingly, the airline's flights across many airports were delayed this morning. Sources said this happened as oil companies refused to fuel SpiceJet planes since the airline owes them money. They said the situation was better in the second half of the day, perhaps after reports of the Government providing relief to SpiceJet began trickling in.
According to sources, this afternoon the DGCA withdrew its earlier order which had barred SpiceJet from taking advance bookings beyond 30 days. The airline has now been permitted to take bookings up to 31 March, 2015. This comes as a huge relief for two reasons - the airline can now take fresh bookings till March and can honour those made earlier, saving it precious outgo in refunds due to cancellations.
Then, two other arms of the government moved swiftly to bend under pressure from the ministry of civil aviation. SpiceJet has been allowed to use airports under the Airports Authority of India (AAI) for the next fortnight without having to make payments. It owes Rs 200 crore to AAI and another about Rs 80 crore to other airport operators across the country. AAI had threatened to put SpiceJet on cash and carry from Monday this week - which would have meant that the airline would have been asked to pay before each flight takeoff.
Also, oil marketing companies, to which SpiceJet owes dues, have been asked to give the airline a credit line till December 31. According to ministry officials, SpiceJet owes them only Rs 14 crore and it would be incorrect to compare the situation of the airline now with what happened to Kingfisher Airlines before it shut operations two years back.
With forward bookings allowed and no immediate payments to airports and oil companies, SpiceJet seems to have got a breather for sure. But only for a fortnight.
A senior ministry official denied any plans to either stand guarantee to any loan that SpiceJet might raise from banks now or to provide a soft loan to the airline directly. This official said no such proposal was being considered and there was no specific package being devised to help just one airline.
"We want to ensure convenience of passengers which is why these steps have been taken. There is no bailout package for any airline," this official said.
Yesterday, the same official had said that SpiceJet's immediate payouts are about Rs 1400 crore though its total dues to various stakeholders stand at about Rs 2000 crore.
Another ministry official said the airline owes Rs 300 crore to banks, Rs 280 crore to airports and Rs 14 crore to oil companies. That only means the remaining about Rs 800 crore could be dues the airline owes to lessors in lease payments for aircraft.
The first official said there is no information with the ministry about any plans by SpiceJet promoters, the Maran family, to pump in more money into the airline. He said the promoters have already pumped in Rs 500 crore this fiscal and there is no clear proposal from any potential investor either.
According to estimates by global aviation consultancy CAPA, SPiceJet needs immediate funds' infusion of Rs 1000 crore. |
http://firstbiz.firstpost.com/corporate/govts-helping-hand-provides-spicejet-relief-till-new-year-113467.html
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vikramv2
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747-237
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basheer1211
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| Posted: Wed Dec 17, 2014 9:55 pm Post subject: |
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SpiceJet opened booking till Mar 31st.
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Jaysit
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| Posted: Wed Dec 17, 2014 10:24 pm Post subject: |
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The GOI needs to take a good hard look at the civil aviation policies it has in place, not to mention the graft and chicanery needed to establish and then keep an airline going.
It's not a good thing for a developing nation to have a meltdown in the civil aviation arena. We all know that Kingfisher was a lost cause because of the fat imbecile who ran it into the ground, and Air India will forever be the the prodigal son who lives at home and mooches off the family for the rest of his existence, but it's not like the other carriers are models of success either. |
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justbala
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| Posted: Sun Dec 21, 2014 1:09 pm Post subject: |
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A very sensible article - surprisingly on rediff/
http://www.rediff.com/business/column/column-the-govt-should-ideally-let-spicejet-fail/20141218.htm
| Quote: | The difference between a market economy and a state-dominated one that favours oligarchs is easy to tell. In the former, an airline that goes bankrupt would simply be allowed to die, or get taken over by new owners. New ones will be born and life will go on.
But in a crony capitalist system, businesses that run into trouble run to the government, which instead of excising dead flesh decides to spread the poison. Banks take the hit, extend repayment and restructure loans for company promoters, who get a virtually free ride |
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iah87
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| Posted: Sun Dec 21, 2014 9:31 pm Post subject: |
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Agree in general. But this is civil aviation involving passenger air travel and the industry cannot be having this upheaval every few years. Spicejet is not a minor airline serving only a small segment of the Indian market.
GoI complicated the whole thing by giving licenses away to too many carriers, like Air Asia India which caused Spice's impending demise. The market was already very competitive before the entry of Air Asia India. The law which allowed 49% foreign airiine investment was meant only for existing carriers, but due to a loophole this allowed carriers like Air Asia India to enter the market, where the largest stakeholder is a foreign airline. |
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stealthpilot
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| Posted: Tue Dec 23, 2014 3:27 pm Post subject: |
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| iah87 wrote: | | Spicejet is not a minor airline serving only a small segment of the Indian market. |
Neither was Kingfisher but they were also badly run. To blame SGs demise on AirAsia India is a bad excuse, SG were heading down the toilet without their help.
| iah87 wrote: | | The law which allowed 49% foreign airiine investment was meant only for existing carriers, but due to a loophole this allowed carriers like Air Asia India to enter the market, where the largest stakeholder is a foreign airline. |
That sounds like AI/6E/Sg whining. There was no loophole at all.
As Jay said,the government needs to take a hard look at the civil aviation policies or lack of. SGs demise has ben writing on the wall for over a year, they needed hundreds of millions of dollars which neither the promoter nor any foreign airline (with a brain) was willing to pump in.
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iah87
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| Posted: Tue Dec 23, 2014 7:47 pm Post subject: |
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| stealthpilot wrote: | [That sounds like AI/6E/Sg whining. There was no loophole at all.
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If you refer back to the original rule allowing foreign airline investment in Indian carriers, it was meant for existing carriers only. Due to some snafu, the regulation which was passed did not specifically exclude new carriers. Anyway, unlike Vistara, Air Asia India is unique in that a single Indian entity does not have effective control, being that the largest stakeholder is a foreign airline, which should not have been allowed. |
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lavence7
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| Posted: Tue Dec 23, 2014 9:52 pm Post subject: |
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| iah87 wrote: |
Anyway, unlike Vistara, Air Asia India is unique in that a single Indian entity does not have effective control, being that the largest stakeholder is a foreign airline, which should not have been allowed. |
Very true. The laws were misused. FDI was allowed to help the industry and not kill it further. More importantly, in reference to Airasia, was there a need for another LCC ? When there was so much capacity in that segment and was still expanding with 6E's growth.
Airasia never brought anything new and innovative into the market with their products and service like they claimed they would. Just another LCC. They don't even seem to have any clear strategy with so many changes now and then . Their latest strategy seems to be 'copy 6E'. Seems like their boss realised they had too many planes on order and felt the heat of competition from the Lion group , so thought let's dump the planes in India.
Vistara surely has more TATA participation in it and they were needed, atleast on the international front if not much for local, for the long haul market. |
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stealthpilot
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| Posted: Wed Dec 24, 2014 4:35 pm Post subject: |
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| iah87 wrote: | | If you refer back to the original rule allowing foreign airline investment in Indian carriers, it was meant for existing carriers only. Due to some snafu, the regulation which was passed did not specifically exclude new carriers.. |
What snafu? When the rule was being debated and written it should have been clear to everyone the investment wasn't limited to existing companies.
If there was a loophole one could argue S Swamy and co. tried their best to restrict new carriers. Why on earth would someone say you can have x% foreign ownership but hey you have to invest in a current airline and cant start your own with a local partner?
Basically 9W/6E/AI? etc. and their lobbies tried hard to create a loophole to restricted competition. Vistara getting a foreign partner wasn't a loophole, trying to restrict them from doing so because they weren't an existing carrier was.
| lavence7 wrote: | | More importantly, in reference to Airasia, was there a need for another LCC ? When there was so much capacity in that segment and was still expanding with 6E's growth. |
How did you decide the market doesn't need another LCC? Because SG doesn't know its knee from its elbow and are bleeding money? Not that I disagree with the idea of the market being cut-throat, but when someone says no more LCC because there isn't a need you have to question that.
| lavence7 wrote: | | Airasia never brought anything new and innovative into the market with their products and service like they claimed they would. Just another LCC. They don't even seem to have any clear strategy with so many changes now and then . |
Now I'm curious what innovations did you expect? Or is that a criteria for allowing new entrants?
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The_Goat
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| Posted: Wed Dec 24, 2014 5:29 pm Post subject: |
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| lavence7 wrote: | | iah87 wrote: |
Anyway, unlike Vistara, Air Asia India is unique in that a single Indian entity does not have effective control, being that the largest stakeholder is a foreign airline, which should not have been allowed. |
Very true. The laws were misused. FDI was allowed to help the industry and not kill it further. More importantly, in reference to Airasia, was there a need for another LCC ? When there was so much capacity in that segment and was still expanding with 6E's growth.
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There used to be time in the dark old days when the government used to decide how many companies would build cars, how many would make televisions and how many would sell condoms. This was during the days of the license -permit raj which bled India's economy for forty five years.
Thankfully ,those days are gone.
It is not the government but the market which has to decide who stays and who bites the dust.
In spite of all the bad market conditions, the likes of Indigo seem to be thriving.
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5Patel
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| Posted: Wed Dec 24, 2014 7:29 pm Post subject: |
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The frequent fare sales were AirAsia's novelty and innovation at least in SE Asia region. Spicejet introduced them in India. With poaching of Kaneshwaram Avili from AirAsia and annoucement of AirAsia India, the fare sales became just too frequent.
The downfall of Spicejet can purely be blamed to management and investor's decisions.
India has seen many airlines come and go - East West, NEPC, Modiluft, Sahara, Air Decca, Kingfisher, Paramount, MDLR and soon Spicejet and hopefully Air India.
Now that India is an open market, government should not bailout or even help a private airline. The only regulations should be in terms of safety and connectivity to remote cities and towns.
My personal view is to close down or privatize Air India, and put in the proceeds and savings in Indian Railways. IR is used by a much larger population of India than AI. At least IR is making profits. |
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747-237
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| Posted: Thu Dec 25, 2014 5:00 pm Post subject: |
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http://in.reuters.com/article/2014/12/25/india-spicejet-idINL3N0U91LG20141225
JPMorgan fund in talks on taking $200 mln stake in India's SpiceJet
Dec 25, 2014
A fund managed by JPMorgan Chase is in advanced talks to partner with Indian carrier SpiceJet Ltd's co-founder for a planned $200 million investment into the cash-strapped airline, the Economic Times reported on Thursday, citing unnamed sources with knowledge of the discussions.
Ajay Singh, who helped set up the low-cost airline in 2005, is leading a rescue plan for SpiceJet and has met with aviation ministry officials to discuss a revival plan.
He is looking to partner some U.S.-based private equity investors to help fund the airline, a government official told reporters on Monday.
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747-237
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| Posted: Thu Dec 25, 2014 6:16 pm Post subject: |
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http://www.eni.network24.co/biz-news/spicejet-to-submit-revival-plan-to-govt-on-friday-25662_12
SpiceJet to submit revival plan to govt on Friday
December 25, 2014
SpiceJet would submit a revival plan to the government on Friday on the basis of a proposed investment of USD 200 million from founding promoter Ajay Singh and US-based JP Morgan Chase, official sources said on Thursday.
"Based on this proposed investment, SpiceJet will submit a revival plan to the civil aviation ministry tomorrow," a source said.
The potential investors are likely to buy stake from current promoter Kalanithi Maran by infusing USD 200 million within a month to help the airline stay afloat. Besides Singh, a fund managed by JP Morgan Chase would also be one of the investors, the sources said.
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747-237
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iah87
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| Posted: Sat Dec 27, 2014 10:24 am Post subject: |
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| 747-237 wrote: | http://www.eni.network24.co/biz-news/spicejet-to-submit-revival-plan-to-govt-on-friday-25662_12
SpiceJet to submit revival plan to govt on Friday
December 25, 2014
SpiceJet would submit a revival plan to the government on Friday on the basis of a proposed investment of USD 200 million from founding promoter Ajay Singh and US-based JP Morgan Chase, official sources said on Thursday.
"Based on this proposed investment, SpiceJet will submit a revival plan to the civil aviation ministry tomorrow," a source said.
The potential investors are likely to buy stake from current promoter Kalanithi Maran by infusing USD 200 million within a month to help the airline stay afloat. Besides Singh, a fund managed by JP Morgan Chase would also be one of the investors, the sources said. |
With the condition of the airline now, for USD 200 million, one would expect to take over the airline and completely buy out Maran. I don't think it is worth much more that. |
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747-237
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| Posted: Sat Dec 27, 2014 9:25 pm Post subject: |
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SpiceJet has withdrawn yet another 737-800, VT-SZF, from the fleet.
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747-237
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HAWK21M
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| Posted: Sun Jan 04, 2015 12:20 pm Post subject: |
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The trend is similiar to EastWest/skylineNEPC,modiluft,kingfisher.....
They need investment fast.
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747-237
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5Patel
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| Posted: Thu Jan 15, 2015 5:19 pm Post subject: |
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http://profit.ndtv.com/news/corporates/article-struggling-airline-spicejet-sold-to-co-founder-ajay-singh-727639
Struggling Airline SpiceJet Sold to Co-Founder Ajay Singh
Struggling airline SpiceJet has been sold to its co-founder, Ajay Singh, who helped set up the low-cost carrier in 2005. It's not clear yet how much Mr Singh paid for SpiceJet to current owner and media billionaire Kalanithi Maran.
India's second-largest budget airline has been struggling for months, and recently, it was forced to ground its fleet after suppliers refused to refuel the planes.
That prompted speculation it was heading for a collapse embarrassing for both India and its aviation industry -- just two years after Kingfisher Airlines imploded leaving billions of rupees in unpaid debt.
Mr Singh, a well-connected businessman credited with coining Prime Minister Narendra Modi's winning campaign slogan, "acche din" (good days), so far owned about 5 per cent of SpiceJet.
Mr Maran's Sun Group, had said in December that it could not afford a bail out after sinking $400 million or nearly Rs. 2500 crore into the airline since buying it in 2010.
Many other Indian carriers have also struggled to translate rapidly growing demand for air travel into profits. Instead, price wars and some of the highest operating costs in the world have left carriers bleeding cash, while new entrants like AirAsia add to competitive pressure.
Under Mr Maran, SpiceJet aggressively expanded its fleet of Boeing planes and started flying more routes, using heavy discounts to win passengers.
Returning to profitability will depend, in part, on the government following through on plans to lower taxes and airport charges, as well as SpiceJet's own efforts to revive margins. |
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747-237
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| Posted: Fri Jan 16, 2015 4:50 pm Post subject: |
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SpiceJet does a flip-flop again, puts off flight services at Hubballi airport
SpiceJet's plan to resume services from the Hubballi airport will not take wing on Friday as promised. Doing a volte face on its announcement that it would resume flights to Bengaluru and Delhi via Mumbai from the city on January 16, the airline has again postponed its services indefinitely - its third since last year. This time, it has blamed technical reasons for the delay in resuming flights from the airport.
http://timesofindia.indiatimes.com/city/hubballi/SpiceJet-does-a-flip-flop-again-puts-off-flight-services-at-Hubballi-airport/articleshow/45909944.cms
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747-237
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| Posted: Fri Jan 16, 2015 4:50 pm Post subject: |
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India carrier SpiceJet's new owners plan to cut fleet, shrink network-sources
Their plans include culling the 15 Bombardier Q400 regional aircraft from the airline's fleet and sticking to Boeing 737 narrow body jets, and focusing on profitable services to and between India's major cities, said the sources.
http://www.reuters.com/article/2015/01/16/india-spicejet-revival-idUSL3N0UV2T420150116
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747-237
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Joined: 11 Jun 2007
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Location: Gordon Gekko's Boardroom
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| Posted: Mon Jan 19, 2015 1:20 pm Post subject: |
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SpiceJet has withdrawn another 737-900ER, VT-SGW, from the fleet today.
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