logo
India extends IndiGo's Turkish Airlines lease by just three months

India extends IndiGo's Turkish Airlines lease by just three months

Zawya3 days ago

IndiGo's Turkish Airlines lease has been extended by three months, less than the six-month extension allowed under current rules, India's aviation regulator said on Friday, giving the Indian airline a temporary boost in its international expansion plans.
There has been public pressure on the Indian government to review its business ties with Turkey after Ankara's support for Pakistan during a recent conflict with India, which sparked public anger and boycott of Turkish products, including chocolates, coffee and clothing.
IndiGo was not immediately available for a comment on Friday.
IndiGo has had a codeshare partnership with Turkish Airlines since 2018 and has used that pact to connect travelers from India to a growing number of destinations in Europe and the U.S. in the last few years, making Istanbul an important hub for India's largest domestic airline.
Since 2023, Turkish has leased to IndiGo two Boeing 777 aircraft with pilots and some crew. The aircraft presently operates on the Delhi-Istanbul and Mumbai-Istanbul routes, allowing IndiGo to carry more passengers, compared with the narrowbodies it operated earlier.
IndiGo has been leasing widebody aircraft to tide over aircraft delivery delays and expand internationally. The airline expects its first Airbus A350 by early 2027 and the long-range A321XLR this financial year.
The agreement with Turkish has faced calls to be scrapped. Rival Air India has lobbied Indian officials to halt the leasing tie-up, citing the business impact as well as security concerns sparked by Turkish support for Pakistan, Reuters reported earlier this month.
IndiGo has previously defended the Turkish partnership, saying it offers multiple benefits to Indian travelers and boosts aviation growth and jobs.
The government's move to give an extension follows its announcement earlier this month revoking the security clearance of Turkish ground handling service firm Celebi, citing national security, inviting a lawsuit from the Indian arm of the Turkish firm.
(Reporting by Abhijith Ganapavaram in New Delhi and Nandan Mandayam in Bengaluru; Editing by David Holmes)

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Pakistan to play in Colombo when India hosts Women's World Cup
Pakistan to play in Colombo when India hosts Women's World Cup

Khaleej Times

time3 hours ago

  • Khaleej Times

Pakistan to play in Colombo when India hosts Women's World Cup

Pakistan will play all their women's 50-over World Cup matches in Sri Lanka's capital Colombo when India hosts this year's tournament, the International Cricket Council (ICC) said on Monday. Politically-estranged India and Pakistan, who have not played a bilateral series since 2013, will play their matches in neutral venues when either country hosts an ICC event, the sport's global governing body announced in December. "The venues for the knockouts are dependent on Pakistan qualifying as two alternative venues have been identified for one semifinal and the final," the ICC said. "Colombo will be the venue for the first semifinal and the final only if Pakistan qualify for those stages." Bengaluru, where the tournament will start with India playing in the opening match, will host the final on November 2 if Pakistan are knocked out earlier in the tournament, the ICC added. Bengaluru will also stage the second semifinal on October 30, a day after the first semifinal in Colombo or Guwahati. Visakhapatnam and Indore are the two other host cities for the eight-team tournament. India played all their matches in Dubai when Pakistan hosted the men's Champions Trophy this year, including the final which they won. Both the Indian Premier League (IPL) and the Pakistan Super League were suspended last month amid clashes between the two countries following an attack targeting tourists that killed 26 people in Kashmir in April. Matches resumed after a ceasefire was announced. The neutral venue arrangement between the countries will also be in place for the men's T20 World Cup in 2026, which India will co-host with Sri Lanka, and the women's T20 World Cup in 2028 in Pakistan.

Ukraine and Russia hold brief talks in Istanbul after Kyiv launches surprise drone attack
Ukraine and Russia hold brief talks in Istanbul after Kyiv launches surprise drone attack

The National

time7 hours ago

  • The National

Ukraine and Russia hold brief talks in Istanbul after Kyiv launches surprise drone attack

Delegates from Russia and Ukraine met briefly in Istanbul on Monday for a new round of talks that came the day after Kyiv unleashed a surprise drone offensive targeting Russian heavy bombers and surveillance planes. Ukraine on Sunday sent 117 explosives-laden drones into military bases across Russia, including as far away as Irkutsk, some 4,000km from Kyiv, according to the Ukrainian President Volodymyr Zelenskyy. Monday's talks in Istanbul ended after about an hour without the two sides appearing any closer to ending the war, but they paved the way for a new prisoner swap. Mr Zelenskyy said the drones were operated by people inside Russia across three time zones, adding that '34 per cent of strategic cruise missile carriers at the airfields were hit.' Videos on social media showed drones flying into old Russian bombers. The drones had been launched from cargo lorries that had been fitted with retractable roofs. Russia's Defence Ministry confirmed that attacks occurred at five military airbases across the nation, from its far east and eastern Siberia to locations a few hundred kilometres from Moscow. Other reports, however, suggested that only 'a few aircraft units' were damaged at two military bases in the Murmansk and Irkutsk regions. Sunday's drone strikes show that Ukraine can still inflict massive damage against its much larger neighbour and highlights how quickly advances in drone technology are changing the calculus of modern warfare. During an appearance at the AI+ Expo in Washington on Monday, Ukraine's ambassador to the US, Oksana Markarova, heralded the 'very successful defence operation'. 'That means those Russian aircraft that, on a daily basis, bomb our hospitals, schools and kill our kids … our capabilities and our drones are the best examples of how innovation can work for our defence,' she said, drawing applause from some in the crowd. 'This is not just a war in which we defend territories and our loved ones. It's also a war for technological relevance, and Ukraine is rising to meet that challenge, and Ukraine is ready to share that with everyone who shares the same values,' she added. US President Donald Trump had vowed he would end the war upon taking office but he has been frustrated by Mr Putin's apparent stalling of a peace push. He has also criticised Mr Zelenskyy. Moscow has so far resisted a US proposal for a 30-day ceasefire and has laid out maximalist demands to end its invasion, which is now in its fourth year. While Mr Trump has threatened to impose more sanctions on Russia, he has so far held off on taking that step. In Istanbul, Kyiv demanded an unconditional truce, Ukrainian Defence Minister Rustem Umerov said. Russia in turn proposed a ceasefire for two to three days along certain parts of the front to allow the evacuation of war dead, said the head of the Russian delegation, presidential aide Vladimir Medinsky. The meeting was only the second time the two sides have met publicly since Russia invaded Ukraine early in 2022. The US Secretary of the Navy, John Phelan, described Sunday's operation as 'pretty prolific'. 'People tend to talk about carriers, but with [drone attacks], it's a moving airfield, and the fact that it's not easy to take out is a good thing,' he said at the AI defence conference in Washington, when asked whether small drones were a harbinger of the future of war. 'It's tough to take that out, it's not a stationary target, and that's a good thing,' he added. 'You can't not study that this is happening.' Secretary Phelan then pivoted to the overall use of drones outside of Ukraine and Russia, referring to the Houthi drone attacks in the Red Sea. 'We have to be ready to adapt very quickly,' he said. 'I don't think people understand the amount of drone attacks going on there ... the navy has done a pretty good job,' he said, cautioning that 'the enemy' is constantly evolving, and that the US is working quickly to learn from those strategies. The two-day exhibition, focused on artificial intelligence and international defence, is organised by the Special Competitive Studies Project, a non-profit and non-partisan group that seeks to 'to strengthen America's long-term competitiveness'.

Dubai Aerospace Enterprise signs $300m loan agreement with BOC
Dubai Aerospace Enterprise signs $300m loan agreement with BOC

Khaleej Times

time8 hours ago

  • Khaleej Times

Dubai Aerospace Enterprise signs $300m loan agreement with BOC

Dubai Aerospace Enterprise (DAE) Ltd, a global aviation services company, has signed a $300 million three-year unsecured term loan with Bank of China (Dubai) Branch, Bank of China Limited, London Branch and Bank of China (Hong Kong) Limited. The loan will be used for general corporate purposes and will support the future financing needs of the business. Firoz Tarapore, chief executive officer of DAE, said the transaction with BOC provides the company with additional liquidity to support its ongoing commitment to meeting the needs of airline customers while maintaining a modern and efficient fleet. 'We are pleased to deepen our relationship with Bank of China and look forward to continuing our collaboration with the entire Bank of China group in the years ahead.' Pan Xinyuan, general manager of Bank of China (Dubai) branch, said the bank values its growing relationship with DAE and is pleased to support this strategic financing. 'The successful execution of this transaction reflects the strength of our global network and our ability to deliver tailored solutions that meet the evolving needs of our clients across the aviation sector. In the future, Bank of China will continue to contribute to deepening China-UAE relations and support the development of UAE enterprises.' Last week, DAE finalised agreements to sell approximately 75 aircraft to two counterparties, marking a significant step in optimising its fleet. Involving a mix of aircraft types, the deals are expected to enhance the efficiency and age of DAE's portfolio, though financial terms remain undisclosed. The first transaction involves the sale of around 50 Embraer E-JETS to a specialist aircraft lessor. The second deal includes approximately 25 out-of-production aircraft sold to a financial investor, with DAE providing lease, asset, and technical management services. According to DAE, these transactions align with its strategy to streamline its fleet by focusing on newer, more fuel-efficient aircraft, reducing the weighted average age of its passenger fleet while extending the average remaining lease term. DAE's pro forma fleet will now consist of 45 per cent Boeing aircraft, 42 per cent Airbus aircraft, and 13 per cent ATR aircraft. This shift reflects DAE's commitment to modernising its portfolio, prioritising aircraft types that meet current market demands for efficiency and sustainability. With a fleet valued at over $14 billion, DAE continues to strengthen its position through strategic divestitures and investments in next-generation aircraft, according to aviation experts.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into the world of global news and events? Download our app today from your preferred app store and start exploring.
app-storeplay-store