LCA Tejas set to debut at international multilateral air exercises in UAE

For the first time, India’s indigenously-made light combat aircraft Tejas will be participating in an international multilateral air exercise — Exercise Desert Flag VIll — in the UAE, reflecting India’s increasing efforts at showcasing the jet on the world stage.

An Indian Air Force contingent comprising 110 Air Warriors arrived at the Al Dahfra airbase of the United Arab Emirates to participate in the exercise, in which five LCA Tejas and two C-17 Globemaster III aircraft would take part, the IAF said. The exercise is scheduled from 27 February to 17 March.

“This is the first occasion when the LCA Tejas shall participate in an international flying exercise outside India,” the IAF said in a statement. As per the IAF, Exercise Desert Flag is a multilateral air exercise which will see participation from the air forces of the UAE, France, Kuwait, Australia, the UK, Bahrain, Morocco, Spain, the Republic of Korea, and the US.

https://twitter.com/IAF_MCC/status/1629407551703126017

“The exercise aims to participate in diverse fighter engagements and learn from the best practices of various air forces,” the IAF said.

ALSO READ - HAL’s LCA Tejas deal with Argentina has been put to hold

India has been in talks with several countries to export LCA Tejas, including Argentina and Egypt. India was also hopeful of selling the platform to Malaysia, but the country has signed a deal with Korean Aerospace Industries for the supply of 18 FA-50 light combat aircraft.

ALSO READ - India offers to set up production facilities for LCA Tejas and helicopters in Egypt

Tejas was to debut in an air exercise abroad last year. It was scheduled to take part in the multinational air exercise Cobra Warrior 22 at Waddington in the UK from March 6 to 27, 2022. However, the exercise was cancelled due to the Russia-Ukraine conflict. The LCA has taken part in several air shows abroad, but never participated in a combat exercise in a foreign country.

ALSO READ - IAF to participate in multilateral air exercise in the UK with Tejas jets

LCA Tejas set to debut at international multilateral air exercises in UAE

The aircraft had earlier participated in air shows in Singapore, Malaysia, Bahrain and Dubai. The LCA Mk 2, which got cabinet approval last year, has evinced interest from nearly 16 countries and efforts are on to identify private agencies to speed up the production of the jet.

Manufactured by state-run aerospace behemoth Hindustan Aeronautics Ltd (HAL), the Tejas aircraft is a potent platform for air combat and offensive air support missions while reconnaissance and anti-ship operations are its secondary roles.

Aircraft manufacturing company HAL terms LCA Tejas as a 4.5 generation, all-weather and multi-role fighter aircraft. “The aircraft is designed to be a multi-role aircraft capable of taking up offensive air support, close combat and ground attack roles at ease. It is also designed to undertake Ground Maritime Operations.”

As per the HAL, there are different variants of aircraft under production and development which includes Single seater fighter for the Air Force, Single seater fighter for the Navy, Twin Seater trainer aircraft for the Air Force and Twin Seater trainer version for the Navy.

The IAF has inducted several of the 40 earlier variants of LCA, ordered 83 improved Mk-1A variants in 2021, and is now looking at ordering the newest variant of the aircraft, LCA Mk-2.

ALSO READ - LCA Mark 1A expected to be out by February 2024

In 2021, the defence ministry awarded an INR 48,000-crore contract to Hindustan Aeronautics Limited for 83 LCA Mk-1A jets for the IAF. The first Mk-1A aircraft will be delivered in February 2024, with the rest slated to join the combat fleet by 2029. Last year, the government gave its nod to developing the LCA Mk-2, a platform that will form an important element of future air combat.

An advanced version of the aircraft (LCA Mk-2) is to be rolled out by February 2024, said a HAL official. Last September, the Cabinet Committee on Security sanctioned INR 9,000 crore to develop the 4.5 generation LCA Mk-2, which would be technologically much superior to LCA Mk-1.

UAE’s national carrier Emirates is exploring a codeshare agreement with Tata Group-run Air India as it prepares to expand globally with a record aircraft order, a senior Emirates executive said.

“Talks (with Air India) are at an early stage. They are a bit busy with the merger as well as other stuff. So, just initial-level talks are on, and let’s see how it evolves," Mohammad Sarhan, vice president of India and Nepal Emirates, said in an interview.

Emirates looks to join hands with a strong and premium airline like Air India to operate in the subcontinent, he said. Air India has signed deals for 840 aircraft (470 firm orders, and 370 options) that includes wide-body planes.

ALSO READ - From A350s to B777Xs, Air India finalizes the Historic 470 Aircraft deal with Airbus & Boeing

“You know, earlier, the United and Emirates were rivals and now they are best of friends. We just signed a codeshare. Air Canada used to be a challenge for us. Now we are best friends. I think sooner or later we will be very close to some Indian carriers. Our aim for the future is to have a strong partner in India.

The best way forward (for Emirates) is (partnership) with a premium carrier. We do have interline with almost all Indian carriers, but it is not as good as codeshare, that will have one ticket, one fare, same baggage allowance, same service, and it is more consistent. We maximize the routes, we sell on that airline, that airline sells on us, we feed into them and they feed into us."

Mohammad Sarhan, Vice President of India and Nepal, Emirates

For outbound and inbound international traffic in India, Emirates is the largest foreign carrier and third largest overall after IndiGo and Air India, with nearly 10% share, according to October-December data from the Directorate General of Civil Aviation.

It is not Emirates’ first attempt at a codeshare in India. The airline had signed a codeshare agreement with SpiceJet in November 2019 but it did not take off for various reasons such as covid and a mismatch between a full-service airline and a low-cost carrier. “Both sides didn’t activate the codeshare. We are a full-service carrier so we will only like to partner with a full-service premium airline, that makes sense and matches us," Sarhan said.

Emirates considering a codeshare agreement with Air India

Emirates has been trying to increase flight operations from India since 2014 but has so far only been able to operate 65,000 seats for Dubai under the bilateral agreement between the two countries. Currently, the Indian government wants Indian carriers to expand to Europe and the Americas and to restrict foreign carriers by not allowing them to expand foreign flying rights.

With the growing aspirations of Indian airlines to increase overseas flights, Sarhan is hopeful that the demand for increasing bilaterals in the India-UAE sector will no longer be one-sided.

“The demand is big. The pie is big for everyone. We are probably missing out on some traffic but the Indian carriers are also missing out on this big demand from Dubai...I think the request is going to come from Indian carriers very soon," Sarhan said.

Emirates currently flies to nine major cities in India but sees potential in launching direct flights to Tier-2 and 3 destinations in India as well such as Surat, Lucknow, and Amritsar. The airline currently shares its bilateral flying rights with its sister airline flyDubai.

With a load factor of around 90% since resuming operations in India, the airline continues to see India as one of its top five markets, alongside the UAE, the US, Australia and the UK.

“We don’t see any slowdown in the Indian market. It is strong, it is growing. We are enjoying that and we are riding the same wave. We are also very surprised with the demand, it is very strong the fares are going up and up, we keep increasing the fares and the demand is still going up and we don’t see any slowdown," he said.

ALSO READ - Air India to Emirates and Pan Am: Who placed the biggest historic Aircraft orders?

Feature Image - Billy Wilt 

(With Inputs from Mint)

Air India Express (AIE), the Kochi-headquartered low-cost international arm of Air India, is likely to get 190 Boeing 737 MAX (737-8 and 737-10s) aircraft as part of a deal entered into by Air India with Airbus and Boeing to procure 470 aircraft over the next decade. The AIE had recently grabbed headlines for making frequent emergency landings (precautionary landings) in the State.

The airline has been using Boeing 737 MAX for its operations, while Air India has been using wide-body aircraft for its long-haul operations. The Air India Express has started hiring pilots and cabin crew members for its bases in south India to expand its operations.

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The airline has entered into a merger agreement with AirAsia India, thereby expanding its fleet size from 24 to 53. The merger of Vistara with Air India is proposed by March 2024, subject to regulatory approvals.

Air India Express likely to get 190 Boeing 737 MAX as part of the mega aircraft deal

“The route dynamics of the airline will change significantly with the induction of the new aircraft. But, it’s too early to speculate on the routes as discussions are still underway. However, as per the preliminary understanding, Boeing 737 MAX will be given to the AIE. The airline, which connects 14 major international destinations, mainly in West Asia and Singapore, with 34 destinations in India, is expected to launch large-scale domestic operations with the induction of the new aircraft,” said a senior officer.

Though there is no lifespan prescribed by the aviation regulator Directorate General of Civil Aviation (DGCA) for a passenger aircraft flying in India, the average age of the aircraft owned by the AIE is 15 years. Since the majority of the recent emergency landings made by the AIE aircraft were due to technical issues, the induction of new aircraft would help the airline immensely, according to industry sources.

The airline has shifted a good number of officials from Kochi to its corporate office in Delhi. Its main operations would soon be from Delhi, said sources.

ALSO READ – From A350s to B777Xs, Air India finalizes the Historic 470 Aircraft deal with Airbus & Boeing

Air India recently announced its mega aircraft order with Airbus and Boeing on February 14, which involves 470 airframes and options for a further 370, which could potentially take the carrier to 840 planes – the order includes 210 Airbus A320neo family jets, 40 A350s, 190 Boeing 737 MAXs, 20 Boeing 787s, and 10 777Xs. It has already announced plans to lease 36 aircraft (11 Boeing 777s and 25 Airbus A320s) of which two B777-200 LR have already joined the fleet.

ALSO READ - Aloke Singh to be the chief of Air India’s low-cost airline business from January 1

(With Inputs from The Hindu)

The Directorate General of Civil Aviation (DGCA) plans to ramp up its technical staff to 1,100 by hiring another 400 people in the next one to two years as well as increase the number of offices to 19 as the watchdog strengthens the safety oversight capabilities, according to its chief Arun Kumar.

Kumar, who will be superannuating on February 28 after being at the helm for nearly four years, described his tenure as a "roller coaster ride" during which various steps were taken to improve aviation safety and the regulator also dealt with multiple headwinds, including engine issues and safety concerns over SpiceJet.

India’s aviation safety oversight ranking jumping to the 55th position from 112th place earlier under the International Civil Aviation Organization (ICAO) coordinated validation mission, rollout of eGCA for processes at the regulator, the introduction of regulations for transgenders who want to be pilots as well as compulsory breath analyser tests for air traffic controllers are among the key developments during the tenure.

"The country’s aviation safety oversight capability has improved substantially and DGCA in its annual surveillance programme conducts more than 4,000 spot checks/audits/night surveillance," Kumar told PTI in an interview.

Currently, the Directorate General of Civil Aviation (DGCA) has around 1,300 employees, including about 700 technical staff. "The number of technical staff is expected to increase by 400 in the next one to two years… also, the number of offices of the DGCA in different parts of the country will increase to 19 from the current 14 in the near term," he said.

When asked about his tenure, Kumar, an IAS officer of the 1989 Haryana cadre, said it has been a 'roller coaster ride'. "It was fulfilling as we took various steps to improve aviation safety. eGCA was a game changer and made life easier for all stakeholders," he asserted. "Among the biggest achievements are India’s position going up in the ICAO safety rankings and the full rollout of the eGCA. With the high ICAO ranking, the world knows that India is a better country when it comes to aviation safety," Kumar said.

During the pandemic, the DGCA chief said that India did what other countries were doing and flight services were suspended for a considerable time. "What is significant is that our resumption was glitch free while others (countries) had air crash and accidents. DGCA is an expert agency and we have always taken pride in our professionalism. Aviation safety is a serious business and DGCA inspectors have always risen to the occasion," Kumar said. India is the world’s third largest as well as the fastest growing civil aviation market in the world.

"On an average, there are 4.5 lakh domestic air passengers and 1 lakh international air passengers in the country," Kumar said. In recent times, the regulator has also taken strict action in relation of unruly passenger behaviour onboard flights.

Last month, in a span of less than a week, the DGCA had penalised Tata Group-owned Air India twice related to incidents of unruly passenger behaviour. On January 24, the regulator imposed a fine of Rs 10 lakh on the airline for not reporting two incidents of unruly passenger behaviour onboard a Paris-New Delhi flight on December 6, 2022.

On January 20, the watchdog slapped a penalty of Rs 30 lakh on Air India as well as suspended the licence of the pilot-in-command of the New York-Delhi flight in which a person allegedly urinated on a female co-passenger on November 26, 2022. In connection with the incident, a fine of Rs 3 lakh was also imposed on Air India’s Director of in-flight services for failing to discharge her duties.

The Post-Pandemic generation and Gen Z have taken to travelling and exploring. They would pay up for a "Once in a Lifetime Experience”. While some of them would choose to share the experience with their respective better halves, many of them would prefer to travel alone in solitude.

The Couples would want to make the most of special occasions like birthdays, honeymoons, and wedding anniversaries. You will need an airline ticket to get wherever you want to go, so why not maximise your savings? Here, we'll give you our top 10 recommendations for first-class enclosed seats so you may have the best time possible with your spouses!

Emirates First Class Suites on A380

Emirates is a massive airline that annually transports more than 40 million passengers to more than 100 locations across the globe with a fleet of more than 240 widebody aircraft. 

Emirates offers an exceptional first-class experience on the A380. The Emirates A380 First Class Suites contain some swankiest features, including gold finishes, polished wood, an onboard shower, and motorised window shades.

Onboard Shower on Emirates First Class A380

Even if Emirates' seats are undoubtedly the most Instagrammable in the world, you could believe that the airline prioritises form over function. The privacy partition between the two centre seats in Emirates First Class Suites is a potential drawback for the couples' experience.

Emirates A380 First Class Suite

Overall, travellers should consider booking an Emirates First Class Suite. It is without a doubt an airline with high standards and one of the best travel experiences in the world. One can't help but feel that Emirates' novelty appeals to people the most.

Emirates’ 777-300ER Suites

In order for the flight attendants to see you, the walls of most first-class suites don't reach the ceiling. Nevertheless, Emirates' newest first class on its newest Boeing 777-300ER fixed that issue with a pinhole CCTV camera. You can use it to order drinks as well.

Block off your own space, which has a surprisingly peaceful atmosphere in muted creams and tans. Emirates has substituted a variety of textures and a mood-lighting system in the entire area. 

Emirates Boeing 777-300ER First Class Suite

The newest 777s operated by Emirates include three of these zero-g body-cradling seats that can recline into beds in every row. Your windows are fully virtual with HD cameras and screens showing you precisely what you'd see outside.

Etihad Residence on A380

The Etihad Residence is regarded as the most opulent travel option available on commercial flights. Only the A380, which is used on a limited number of itineraries, offers it. You will enjoy unique, exclusive access to a living area, bedroom, and bathroom at the Etihad Residence.

A large loveseat and a long ottoman can be found in the living room. Your separate bedroom has a full-sized bed and some of the most opulent decor you'll ever see, in addition to the living room. You have a full-sized shower, your own vanity, and other bathroom amenities in your own shower suite.

Etihad Residence on A380

Booked through- Etihad Guest Miles (1-3 million)

Route- 

New York City (JFK) – Abu Dhabi (AUH)

London Heathrow (LHR) – Abu Dhabi (AUH)

Paris (CDG) – Abu Dhabi (AUH)

Seoul (ICN) – Abu Dhabi (AUH)

Etihad First Class Apartments

We discussed the Etihad Residence, unquestionably the most amazing flight experience available. Etihad First Class Apartments are an extra first-class offering besides the Etihad Residence.

These apartments are a rung below the Etihad Residence, yet they are still insanely lavish. The first-class item can act as a "quasi double bed" when converted. There is a divider, but it is not actually a double bed. There is no room for overlap at the bottom region of the bed since the wall rises to the midsection area. The Apartments may be found aboard every A380 operated by Etihad.

You will have a separate armchair that you can use for dining and relaxing in addition to your bed. Along with the spectacular seat, you may use the onboard shower, bar, vanity, in-flight chefs, and Aqua di Parma amenities.

Etihad First Class Apartments

Booked through- American Airlines Miles, Etihad Guest Miles & Asiana Club Miles

Route- New York City (JFK) – Abu Dhabi (AUH)

Singapore Airlines First Class Suites (New and Old)

Singapore Airlines refers to its top-tier First Class experience as "Suites." And you're in for a great treat if you reserve Suites on one of the airline's new Airbus A380s.

Your suite appears to have a bed and a separate armchair at first glance. That is convenient for eating and working because a tray table may be opened nearby. But things get even more fascinating if you're travelling with a partner.

This is so you have more room to spread around since you may lower the wall separating the suites in rows one and two. The crew can combine the beds in each suite to create a double when it's time to sleep and that divider is taken down.

Singapore Airlines First Class Suites (New)

The older suite’s original cabin had a 1-2-1 layout rather than the current cabin's 1-1 arrangement. As a result, the window-side seats continue to be solo suites. When two people are travelling together, however, the suites in the centre can open up to create a common area (as well as a double bed).

The majority of Singapore Airlines' Airbus A380 aircraft now have the new component. Yet, this older version of Suites is still on board one superjumbo.

Booked through- Singapore KrisFlyer Miles

Route (New)-

Singapore (SIN) – Hong Kong (HKG) 

Singapore (SIN) – London Heathrow (LHR)

Singapore (SIN) – Shanghai (PVG)

Singapore (SIN) – Sydney (SYD)

Singapore (SIN) – Zurich (ZRH)

Route (Old)- New York City (JFK) – Frankfurt (FRA) – Singapore (SIN)

China Eastern First Class 

The first-class suites offered by China Eastern Airlines are unknown to most people. The Chinese government owns a majority stake in the SkyTeam partner airline with its headquarters in Shanghai.

China Eastern First Class Seats

The double bed is the main factor keeping it at the top of the list. Even airlines like Emirates Airlines don't have the honour of providing a double bed. Yet China Eastern excels in this area. As one of the few carriers with double beds in first class, it joins the elite company of Singapore Airlines and Etihad.

Booked through- China Eastern Miles

Japan Airlines First Class 

Japan Airlines' first class is the most underrated first-class product out there. The Japan Airlines 777 first class has received a thorough examination, yet the sensation that passengers have is unique. The outdoor suite has a large leather armchair.

Eight seats in a 1-2-1 layout make up the first-class cabin; these seats are ideal for couples because they make it easy to talk. Use the motorised privacy wall to give your partner some space if you don't feel like talking to them right now.

Japan Airlines First Class 

The unmatched soft product, which includes extremely pricey whisky, caviar service, a mattress cushion, plush bedding, and a tonne of flight-related keepsakes are all highlights.

Air France La Premiere 

A wonderful flight awaits anyone who can fly on the 777-300ER in the coveted La Premiere first-class cabin. Only 4 seats, spread across 1 row in a 1-2-1 arrangement, are available in first class. Open-air suites with curtains for seclusion are available. Air France is the only airline that uses curtains in commercial flying, which is classy.

The in-flight good cuisine and service as well as ground service are the main highlights. It is simple to converse with your middle seat partner thanks to the open-air seating. Because the cabin is so intimate, you’ll truly feel like you’re in a private jet. Moreover, it's interesting that you can utilise the ottoman/footrest as a companion seat while dining.

Air France La Premiere Boeing 777-300ER

If you don't have Flying Blue elite status, it is next to impossible to make reservations with points and miles. Even then, a first-class award redemption costs 200,000 miles one-way.

ANA First Class “The Suite”

ANA is gradually updating its 212-seat, premium-heavy 777-300ER aircraft with the new product. It is easy to say that ANA's new first class, known as "The Suite," vastly improves upon their previous offering, known as "The Square."

ANA First Class “The Suite”

The vastness of the suites is the first thing you'll notice. The centre seats are unquestionably the best for couples. You'll see that the middle dividers and layouts facilitate communication between couples. The sliding doors also completely enclose your apartment, giving you a much more private experience. In addition to having a thoughtful design, the TV is enormous. The 42-inch 4K television in this first-class seat is unquestionably the largest one anywhere in the globe.

Lufthansa First Class

Couples travelling first class should consider Lufthansa, which can be booked using points. The first-class seats are identical open-air suites with big armchairs.

Although they are generally arranged in a 1-2-1 arrangement, if they are flying in the nose of a 747-8, they might be arranged in a 1-1 configuration.

The ideal option if you're flying with your spouse, is to reserve the pair of middle seats in Lufthansa first class. These seats' design makes conversing with your companion simple.

From the time you step out of your door to the time you leave the airport to go to your hotel or home, Lufthansa is renowned for providing first-class service that is incredibly polished and professional. It features superb ground service, elegant lounges with a cigar lounge, first-rate catering, and an amazing selection of flights.

Lufthansa First Class

Due to the open-air aspect of the seats, lack of privacy is the biggest complaint of Lufthansa's first class. We view that as a bonus because you don't want to be entirely separated from your companion.

Airline operator SpiceJet on February 24 reported a 160% jump in its consolidated net profit at INR 110 crore for the quarter that ended December 2022. Its net profit stood at INR 42 crore in the year-ago period.

The company's revenue from operations jumped 2.4% to INR 2,316.8 crore as against INR 2,262.6 crore in the year-ago period. In Q2 FY23, the company reported a loss of INR 833 crore on revenue of INR 1,954 crore. The carrier’s load factor, or the passenger carrying capacity being utilised, improved to 91% from 85.2%.

After the results announcement, the stock spiked over 12%. At 2:45 pm, the stock was quoting at INR 38.80, higher by 9.6%. The stock jumped 12.31% to settle at INR 39.70 on the BSE. During the day, it ral­lied 15.27% to INR 40.75. In volume terms, 25.44 lakh shares were traded on the BSE during the day.

For the quarter that ended December 31, SpiceJet’s passenger revenue surged 33% as yields, a proxy for airfares, jumped 21%. That helped offset a sharp decline in revenue from its freight and logistics business. Overall revenue was up 2.5% at 23.15 billion rupees.

“We exceeded our operational targets and continued with our unmatched performance clocking the highest load factor for every single month in 2022. The profits have been driven by a strong performance in both our passenger and cargo businesses. There are renewed signs of recovery and some positive developments and restructuring initiatives in the immediate offing that would significantly strengthen and deleverage SpiceJet balance sheet."

Ajay Singh, Chairman and Managing Director, SpiceJet

However, the company did flag concerns over high fuel prices and the depreciating rupee. The company said the average aviation turbine fuel price rose by 48% during the quarter, while the Indian rupee depreciated 11% against the U.S. dollar.

The airline's passenger Revenue per Available Seat-Kilometer (RASK) rose by 27% in October-December when compared to the same quarter last year. It launched 15 new routes and operated 254 charter flights in the quarter.

Its air cargo service SpiceXpress has reported a net profit of INR 12 crore and revenue of INR 120 crore for the quarter. The airline said its board is considering raising fresh capital through the issuance of eligible securities to qualified institutional buyers, by applicable law.

SpiceJet Q3 net profit jumps 160%; shares fly high

The December quarter is traditionally strong for airlines as the onset of festivals and the holiday season boosts air travel. The quarter also saw a steep rise in airfares on record passenger demand and helped Indian airlines such as IndiGo report a record profit, and privately held Vistara said it has broken even for the first time since inception.

For SpiceJet, total income from operations rose 6% to INR 2.829.5 crore in the quarter. Of this, total revenue from operations stood at INR 2,314.6 crore, and other income was at INR 514.9 crore. The airline has credited the other income to the settlement with Boeing for 13 grounded MAX aircraft and waiver of lease rentals on some aircraft, which were showing technical issues and were then returned during the period.

The financially troubled airline also stated that it is in talks with banks to raise an additional INR 763.9 crore loan under the central government's Emergency Credit Line Guarantee Scheme (ECLGS). In Q3 and Q2 of 2022-23, the airline took bank loans of INR 150.9 crore and INR 60 crore, respectively, under the ECLGS. In the current quarter, it is receiving an INR 128.6 crore loan from banks under this scheme.

ALSO READ - Spicejet looking for a “knight in shining armour” to help with financial distress

In December last year, SpiceJet chairman and man­aging director Ajay Singh told shareholders that the compa­ny is engaged with investment bankers to raise up to USD 200 million to achieve its plans. He had also said the increase in the Emergency Credit Line Guarantee Scheme to INR 1,500 crore will go a long way in pro­viding the needed stabil­ity to the sector.

ALSO READ - SpiceJet to sell 5% stake of SpiceXpress to Carlyle Aviation Partners

Reports also said that Carlyle Aviation Partners, a leasing firm owned by global private equity giant Carlyle Group, may convert its outstanding rental dues into equity, obtaining a 5% stake in the low-cost carrier.

ALSO READ - SpiceJet aims to pay off aircraft lessors’ outstanding debts by converting them into investors

The proposed deal would involve Carlyle converting more than USD 100 million of SpiceJet's outstanding dues into equity as well as compulsorily convertible debentures (CCDs) in SpiceJet's cargo arm, SpiceXpress. As one of the biggest lessors for SpiceJet, this move is expected to significantly reduce the airline's debt and pave the way for future growth.

ALSO READ - SpiceJet plans to raise funds & convert outstanding liabilities into equity shares

SpiceJet said it has not been operating various aircraft due to technical reasons and despite its inability to undertake revenue operations, it continued to incur various costs concerning these planes. According to its website, the airline has a fleet of 91 planes.

Meanwhile, SpiceJet rescheduled its board meeting to consider capital raising options from Friday, February 24 to Monday, February 27.

The airline last year suffered a string of mid-air safety lapses that drove India’s aviation regulator to halve its approved fleet in July 2022. The curb was removed on October 30.

ALSO READ - A relief for SpiceJet as DGCA lifts 50% cap on its flights