Latest news with #A321
Time of India
2 days ago
- Business
- Time of India
IndiGo's insurance premium likely to rise, in single digits
Mumbai: IndiGo Airlines , country's largest carrier by fleet size and market share , is likely to face a single-digit percentage increase in aviation insurance premiums when its annual cover comes up for renewal this week, people familiar with the matter said. The hike comes amid a hardening global reinsurance market following the recent fatal Air India crash in Ahmedabad, which could result in hull and liability claims exceeding $200 million. Explore courses from Top Institutes in Please select course: Select a Course Category The insurance renewal for IndiGo and SpiceJet-whose policies are up for renewal in October-is being closely watched by the industry as reinsurers raise prices in the wake of increasing global aviation losses . Reinsurers in the London market, which underwrite a large portion of Indian aviation risk, are tightening capacity and pushing up rates for both hull and liability covers. IndiGo's policy last year was led by New India Assurance , with co-insurers such as ICICI Lombard participating domestically. A large portion of the risk was ceded to overseas reinsurers, particularly in London, which continue to dominate aviation hull and liability insurance . Live Events The carrier's combined hull, spares, and liability cover carries a premium of approximately $13 -15 million, industry sources said. The total insurance value for its 437 aircraft fleet stands at around $20 billion. Each aircraft-primarily Airbus A320 and A321 models-is insured for a hull value between $30 million and $45 million. The fleet includes a few wide-body aircraft recently inducted for international operations. On the liability front, narrow-body aircraft typically carry coverage up to $750 million, while wide-body aircraft are covered for up to $1 billion. The current combined single limit (CSL) for liability stands at $1 billion, with maximum hull agreed value (MAV) at $150 million and spares at $300 million. Reinsurance costs have been rising since late 2023, but the recent Air India crash has led to further tightening, with international reinsurers becoming more cautious on risk appetite.
The Hindu
5 days ago
- Business
- The Hindu
Karnataka appeals to Centre to finalise location for second airport for Bengaluru
Minister for Industries and Infrastructure Development M.B. Patil met Union Civil Aviation Minister K. Ram Mohan Naidu in Delhi on Thursday to seek finalisation of location for the second international airport for Bengaluru and also international status for Hubballi and Belagavi airports. He also sought approval for the inauguration of the Vijayapura airport and urged the Centre to upgrade the Hubballi and Belagavi airports to international status, according to an official release. Mr. Patil informed the Union Minister that an expert team from the Airports Authority of India (AAI) had already visited the three shortlisted sites for Bengaluru's second international airport, and their report was being awaited. Regarding the Vijayapura airport, the Minister noted that the project is ready for launch, with only clearance from the Union Ministry of Environment pending. Highlighting the importance of the Hubballi and Belagavi airports, Mr. Patil emphasised the need to upgrade them to international status in view of the region's development and to boost connectivity of North Karnataka with South Maharashtra and Goa. Both airports were being equipped with terminals capable of handling 2,400 passengers an hour and could accommodate AB320 and A321 class aircrafts, respectively. They were also equipped with night-landing facilities and dedicated cargo terminals. Belagavi, apart from being a defence location, is a well-known educational hub attracting international students, while Hubballi-Dharwad is rapidly emerging as an industrial zone. Granting international status to these airports would support comprehensive growth in the North Karnataka region and foster expansion in sectors such as e-commerce and logistics, Mr. Patil maintained. Stakeholder status sought He also appealed to the Centre to consider Karnataka as an active stakeholder in the airport asset monetisation programme. A more equitable and participatory model would not only recognise the State's significant contribution, but also ensure the long-term sustainability of airport infrastructure development, he stated. The Ministry of Civil Aviation is currently undertaking airport asset monetisation through public-private partnerships, including the proposed privatisation of 13 airports, such as Hubballi. However, despite Karnataka's key role in land acquisition, infrastructure development, and operational facilitation, it has not been granted stakeholder status in the monetisation framework, Mr. Patil highlighted. He further explained that the State has made major financial commitments—over ₹319 crore for the runway expansion at Mysuru airport, an additional ₹101.81 crore for associated infrastructure facilities, and nearly ₹450 crore for the acquisition of over 600 acres for the Hubballi airport. Kalaburagi airport, entirely developed by the State government and later handed over to the AAI, currently generates no revenue or equity participation for the State, he pointed out. Mr. Patil was accompanied by Infrastructure Development Secretary N. Manjula and KSIIDC Managing Director Khushbu Goel.
Time of India
7 days ago
- General
- Time of India
Air India Flight AI 315 safe after auxiliary power unit fire at Delhi Airport
Advt An Air India A321 plane's auxiliary power unit caught fire after landing at the Delhi airport on Tuesday afternoon, and all passengers and crew members are safe."Flight AI 315, operating from Hong Kong to Delhi on 22 July 2025, experienced an auxiliary power unit (APU) fire shortly after it had landed and parked at the gate. The incident occurred while passengers had begun disembarking, and the APU was automatically shut down as per system design," an airline spokesperson said in a spokesperson said there was some damage to the aircraft, while passengers and crew members disembarked normally and are safe. "The aircraft has been grounded for further investigations and the regulator has been duly notified," the spokesperson added.>
Economic Times
21-07-2025
- Business
- Economic Times
Air India plane aborts takeoff at Delhi airport due to technical snag
A Kolkata-bound Air India plane aborted takeoff at the Delhi airport due to a technical snag on Monday evening. ADVERTISEMENT "Flight AI2403 operating from Delhi to Kolkata on 21 July 2025 has been rescheduled to depart later this evening, necessitated by a technical issue detected during the takeoff roll. The cockpit crew decided to discontinue the takeoff, following Standard Operating Procedures," the airline said in a statement. Regretting the inconvenience caused to the passengers due to the disruption, the airline said all passengers have disembarked and its colleagues are extending support to them. The flight was to be operated with an A321 aircraft. (You can now subscribe to our Economic Times WhatsApp channel)
Time of India
21-07-2025
- Business
- Time of India
Air India plane aborts takeoff at Delhi airport due to technical snag
An Air India flight bound for Kolkata aborted takeoff at Delhi airport on Monday evening after a technical snag was detected during the takeoff roll. The A321 aircraft was grounded and the flight rescheduled. All passengers were safely disembarked, and the airline said standard protocols were followed. Air India expressed regret and is assisting affected passengers. Tired of too many ads? Remove Ads A Kolkata-bound Air India plane aborted takeoff at the Delhi airport due to a technical snag on Monday evening."Flight AI2403 operating from Delhi to Kolkata on 21 July 2025 has been rescheduled to depart later this evening, necessitated by a technical issue detected during the takeoff roll. The cockpit crew decided to discontinue the takeoff, following Standard Operating Procedures," the airline said in a the inconvenience caused to the passengers due to the disruption, the airline said all passengers have disembarked and its colleagues are extending support to flight was to be operated with an A321 aircraft
