ZEE Business
ZEE BUSINESS
हिंदी में पढ़ें  हिंदी में पढ़ें
Live TV
Live TV
  • Home
  • Personal Finance
    • PPF
    • Mutual Funds
    • Income tax
    • EPFO
    • Income Tax Calculator
    • Personal Loan Calculator
    • Car Loan Calculator
    • Home Loan Calculator
    • SIP calculator
    • SWP Calculator
    • MF Returns Calculator
    • Lumpsum Calculator
  • India
    • Companies
    • Property
    • Startups
    • Uidai
  • Economy
    • Aviation
  • Tech
    • Mobiles
    • Apps
  • Auto
    • Cars
    • Bikes
  • Markets
    • Commodities
    • Currency
  • Railways
  • World
    • Economy
    • Politics
    • Markets
  • Survey
  • videos
  • photos
  • More ...
    • VIDEOS
    • PHOTOS
BREAKING NEWS
  • RBI extends implementation of card tokenisation norms by 3 months; deadline extended till 30 September
  • EXCLUSIVE: 'Noida International Airport at Jewar to be jewel in crown of Indian aviation sector' - Know what all is coming up at
  • D-Street Corner: Market gains 2.7% in highly volatile week, investors richer by 5.5 lakh cr; what should investors do on Monday?
  • Sebi allows UPI payment option to invest in public issues of REITs, InvITs with effect from 1 August
  • Netflix lays off 450 employees in two months—Here's what's bothering OTT giant
Read in App
Business News » Companies News

Cash-strapped Air India has as many as 20 planes grounded for repair

The flag carrier Air India has been forced to ground as many as 20 of its 127 fleet of aircraft, comprising both wide-body as well as single-aisle.

  • Twitter
  • Facebook
  • Linkedin
  • whatapp
  • View in App
Cash-strapped Air India has as many as 20 planes grounded for repair
The official said the airline has been trying to get them back into operations with new engines, since late last year. Reuters

The flag carrier Air India has been forced to ground as many as 20 of its 127 fleet of aircraft, comprising both wide-body as well as single-aisle, as it does not have the funds to replace their engines, a senior official has said. The debt-ridden AI, surviving on public doles, needs at least Rs 1,500 crore to get new engines for these planes, and with has no funds coming in, these planes are unlikely to resume operations any soon, the official explained. The loss-making carrier has a fleet of 127 planes of which 45 are Boeing wide-bodies (27 B787s and 18 B777s) and cater to the long-haul and ultra-long haul international routes, and the rest are narrow-body Airbus A320s.

"As many as 20 of our planes are out of operations since late last year due to engine issues. That means almost 16 percent of our fleet is down. These planes have to be fitted with new engines, which will require around Rs 1,500 crore," the official said. Of these, 14 are A320s, four are B787-800s (Dreamliners) and the remaining two are B777s he said.

The official said the airline has been trying to get them back into operations with new engines, since late last year but for want of funds, these planes are unlikely to be up and flying before October." Notably, last August the airline's narrow-body pilots body ICPA (Indian Commercial Pilots Association) had alleged that 19 planes were on ground for want of spares, resulting in huge revenue loss besides massive flight cancellations.

However, the then chairman Pradeep Singh Kharola, who is now the aviation secretary, had termed grounding some of the fleet for routine maintenance checks as a "common practice" in the aviation space. The official also said the airline is planning to hire around 200 cabin crew from Jet Airways but it may not go ahead with an earlier plan to lease five B777s from the now grounded airline to expand its international services.

If the flag carrier goes ahead with hiring, it will be the third carrier to absorb a part of the 22,000-odd workforce of Jet, which was grounded on April 17. SpiceJet has already announced hiring of 500, including 100 Jet pilots, while Vistara is also in the process of taking on board a similar number of personnel from the crippled airline. 

Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.

TAGS:
Air India
Written By: PTI
Updated: Wed, May 01, 2019
08:42 pm
Mumbai, PTI
RELATED NEWS
CCI approves proposed acquisition of AirAsia India by Air India CCI approves proposed acquisition of AirAsia India by Air India
DGCA imposes Rs 10 lakh fine on Air India for denying boarding to passengers with valid tickets DGCA imposes Rs 10 lakh fine on Air India for denying boarding to passengers with valid tickets
Campbell Wilson appointed CEO and MD of Air India Campbell Wilson appointed CEO and MD of Air India
Air India proposes to acquire AirAsia India Air India proposes to acquire AirAsia India
Covid 19 impact: Air India cancels flight services to Hong Kong Covid 19 impact: Air India cancels flight services to Hong Kong

LATEST NEWS

D-Street Corner: Market gains 2.7% in highly volatile week, investors richer by 5.5 lakh crore; what should investors do on Monday?

RBI exploring options to ensure customer safety dealing with PPIs issued by non-bank entities

Fintech's halt PPI loan, buy now pay later services as RBI restrictions posing challenges

This Mukul Agrawal textile stock may grow over 52% on strong export outlook and government initiatives

Sebi allows UPI payment option to invest in public issues of REITs, InvITs with effect from 1 August

Agri Commodities Prices Headed Southward

Ola Electric crosses Rs 500 cr revenue in April-May

iOS users can now securely save their passwords in Chrome

How has technology changed the face of investing and what lies ahead? Analyst decodes

Strong fundamentals, good dividend yield make Coal India, ONGC, NTPC, 3 other stocks good bets in current market—Check TPs, dividend payout ratios

  • India News
  • World News
  • Companies News
  • Market News
  • Personal Finance News
  • Technology News
  • Automobile News
  • Small Business News
  • Income Tax Calculator
  • Live TV
  • Videos
  • Photos
  • Author
  • Rss Feed
  • Advertise with us
  • Privacy Policy
  • Legal Disclaimer

Latest Trending Updates

  • EPFO
  • Budget 2020
  • Income Tax Return
  • Auto Expo 2020
  • Home Loan
  • Business News

Trending Topics

  • Income Tax
  • income Tax Calculator
  • 7th Pay Commission
  • Reserve Bank of India
  • GST
  • Latest Business News

Follow us on

zeebiz
zeebiz

Partner Sites

  • Zee News
  • Hindi News
  • Marathi News
  • Bengali News
  • Tamil News
  • Malayalam News
  • Gujarati News
  • Telugu News
  • Kannada News
  • DNA
  • WION
© 2022. India Dot Com Private Limited. All Rights Reserved.
LIVE TV