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Time of India
2 days ago
- Business
- Time of India
Europe ahoy: IndiGo to start London, Copenhagen & Athens flight by winter
File photo NEW DELHI: Indian globetrotters will soon have more airline options for their overseas trips. IndiGo CEO Pieter Elbers Friday said the airline will start flights to London, Copenhagen & Athens in Europe and Siem Reap in Cambodia by this winter. India's largest airline is starting Europe flights with Amsterdam and Manchester on Norse Atlantic wet leased (hired with operating crew) Boeing 787s this July. This year, it will add 10 new international destinations to its network apart from introducing its business product Stretch on some international destinations — Dubai, Bangkok, Singapore and Phuket — that are served by narrow body aircraft. 'With one new aircraft joining the fleet every week for the next decade or so, IndiGo anticipates surpassing a fleet size of 600 aircraft by 2030. We received 58 Airbus aircraft last fiscal and crossed the $10 billion revenue mark apart from flying 11.8 crore passengers. Every three days, we fly 10 lakh passengers,' Elbers said here Friday as IndiGo is hosting the annual general meeting of International Air Transport Association (IATA). Air India has also placed an order for over 500 aircraft and is growing aggressively after Tatas took over the Maharaja in Jan 2022. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like A brain tumor threatens his life. Please save him. Donate For Health Donate Now Undo 'India is in a hurry and so is IndiGo,' he said referring to the growth of the airline. In fiscal 2015, it had 21 domestic destinations and now it is at 91 to which Hindon, Adampur, Navi Mumbai and Greater Noida will be added this year. In fiscal 2015, it had five international destinations and now it has 40 in which 10 more will be added in FY 26. 'People ask us if we are a low cost carrier (LCC) or a full service one, we are neither. We have built our own model,' the CEO said. IndiGo has signed an agreement with Norse Atlantic Airways for a damp lease of six Boeing 787-9 Dreamliner aircraft, deliveries of which will be completed by early 2026. This fiscal it will get the long range Airbus A321XLR. The Dreamliners will be used for direct flights connecting Mumbai with Manchester and Amsterdam starting July 2025, and then flights from India to London and Copenhagen. Athens will be served by the A321XLR. 'The airline will (add) four more Central Asian destinations being added... will re-activate services to Almaty and Tashkent with new non-stop services from Mumbai. Tbilisi will also see additional capacity with non-stop connectivity from Mumbai. Direct flights to Siem Reap will be IndiGo's foray in the India – Cambodia market… after the launch of services to Langkawi, Penang and Krabi last year. The airline will also add capacity to Denpasar Bali (Indonesia) as well as Ho Chi Minh City and Hanoi in Vietnam,' Elbers said. IndiGo has two maintenance facilities with hangars Delhi and Bengaluru. On Friday, it signed an MoU with Bangalore International Airport Limited (BIAL) to build a maintenance repair overhaul (MRO) facility on 31 acres of land. This facility will be equipped to handle narrow-body and wide-body aircraft. 'With more than 400 aircraft in fleet and over 900 on order, a dedicated MRO facility will give a significant advantage in terms of aircraft availability, greater cost efficiencies and quicker turnaround benefiting the airline. We are keeping planes longer now and that also makes a MRO necessary,' Elbers said.
Time of India
16-05-2025
- Business
- Time of India
Trump announces over $200 billion in US-UAE deals; Etihad orders 28 Boeing jets
US President Donald Trump on Thursday announced a series of business deals worth more than $200 billion between American companies and the United Arab Emirates, marking a major milestone in trade relations between the two nations. The agreement confirmed a $14.5 billion deal involving US aviation giants Boeing and GE Aerospace, and UAE's national airline, Etihad Airways. The Abu Dhabi-based carrier confirmed on Friday that it will buy 28 wide-body Boeing aircraft, all powered by GE engines, as per Reuters. The aircraft, a mix of Boeing 787s and the next-generation 777X – will begin joining Etihad's fleet from 2028, as the airline looks to modernise and expand its operations. The White House described the deal as a significant boost for US manufacturing and exports . 'With the inclusion of the next-generation 777X in its fleet plan, the investment deepens the longstanding commercial aviation partnership between the UAE and the United States,' the White House said. 'It fuels American manufacturing and drives exports.' Etihad said the order reflects its 'ongoing approach to aligning its fleet with evolving network and operational needs.' The airline currently operates a fleet of around 100 aircraft. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Perdagangkan CFD Emas dengan Broker Tepercaya IC Markets Mendaftar Undo Etihad CEO Antonoaldo Neves, who has overseen the airline's growth following a period of restructuring, said last month that the company plans to bring in 20 to 22 new aircraft this year alone. That includes ten Airbus A321LRs, six Airbus A350s, and four Boeing 787s. The A321LRs, unveiled earlier this week, are expected to enter service in August. The airline, which is owned by Abu Dhabi's $225 billion sovereign wealth fund ADQ, aims to grow its fleet to more than 170 aircraft by 2030, supporting the UAE capital's wider economic diversification plans. Meanwhile, Boeing also scored another major win this week with a separate deal in the Gulf. During Trump's visit to Qatar, state carrier Qatar Airways placed firm orders for 160 wide-body jets, with options for 50 more, a deal the White House valued at $96 billion. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Yahoo
09-05-2025
- Business
- Yahoo
British Airways Owner IAG to Buy 53 Boeing and Airbus Planes Despite Market Uncertainty
British Airways owner International Consolidated Airlines said it ordered 53 planes from Boeing and Airbus, marking a significant investment in its fleet despite uncertainty in the sector stemming from trade tensions. The airline group, which also houses Iberia and Vueling among others, said it ordered 32 Boeing 787-10 aircraft for British Airways and 21 Airbus A330-900neo aircraft which it said could be deployed to Iberia or its other companies, Aer Lingus or Level. Volkswagen Recalls ID. Buzz Because the Back Seat Is Too Big Celsius's Mashinsky, Former Crypto High-Roller, Gets 12-Year Prison Sentence With U.K. Deal, U.S. Signals That 10% Tariff on World Is New Baseline McKesson to Spin Off Medical-Surgical Company The 1-800-Flowers Founder Decides It Is Time to 'Fire Myself' The aircraft are due to be delivered between 2028 and 2033, with the orders subject to shareholder approval in June, IAG said Friday. The move comes on the heels of Thursday's framework trade agreement between the U.S. and the U.K., in which both countries agreed to curtail tariffs on some goods, including Rolls-Royce jet engines and parts. IAG didn't disclose financial details of the order, but Commerce Secretary Howard Lutnick on Thursday said a British airline, which he didn't name, would announce that it is buying $10 billion of Boeing planes. Chief Executive Officer Lluis Gallego, however, stressed in a post-earnings call with journalists on Friday that the plane orders were negotiated ahead of the news of the trade talks. 'We welcome the agreement but this negotiation process started a long time ago,' Gallego said. As part of the order agreement, British Airways holds the right to purchase up to 10 more U.S.-made Boeing 787s, while IAG can buy up to 13 additional Airbus A330-900neo aircraft, the company said. While U.S. carriers such as American Airlines and Delta Air Lines have recently withdrawn guidance amid declining domestic demand and tariff-related uncertainty, IAG expressed its confidence in its North Atlantic market. Demand for premium cabin space appears to be mitigating softness for U.S. point-of-sale economy seating, IAG said after passenger unit revenue for the region increased by 13%, marking the steepest growth across the whole of the company. Strong overall demand for flights meant that its second-quarter was around 80% booked, with revenue ahead of its year-earlier level. IAG maintained its guidance for 2025, although Gallego said it was yet too early to say for sure how the rest of the year will play out In the first three months, IAG swung to a first-quarter profit of 176 million euros, equivalent to $197.6 million, from a loss of 4 million euros in the same period a year earlier. Revenue rose 9.6% to 7.04 billion euros, with growth in both passenger and cargo income. Write to Pierre Bertrand at Funko Pulls Outlook as Loss Widens, Sales Fall One of Warren Buffett's Last Big Bets Is Souring AI's Threat to Google Just Got Real Bill Gates Plans to Give Away More Than $200 Billion Over 20 Years The WSJ's Jonathan Clements Wants to Leave a Living Legacy Sign in to access your portfolio
CNBC
09-05-2025
- Business
- CNBC
IAG orders 71 long-haul jets split between Airbus and Boeing
British Airways owner IAG on Friday unveiled plans to buy 71 long-haul aircraft from Airbus and Boeing, sharing a major fleet expansion across the Atlantic a day after Britain and the U.S. announced a trade deal. The airline group announced a new order for 32 Boeing 787-10 aircraft for British Airways, and 21 Airbus A330-900neo aircraft. It also disclosed for the first time options exercised in March for six Airbus A350-900s, as well as six Airbus A350-1000s and six Boeing 777-9s. That gives a total of 33 Airbus jets and 38 Boeing planes. Hailing a trade deal between the two countries on Thursday, the United States said that Britain would buy $10 billion of Boeing jets. Industry sources also told Reuters that IAG would buy about 30 jets from Airbus, including A330neos and A350s. IAG, whose airlines also include Iberia and Aer Lingus, said the Airbus A330-900neo aircraft would be powered by Rolls-Royce engines and British Airways' Boeing 787-10 aircraft would be powered by General Electric engines. Rolls-Royce is the sole engine provider for the A330neo but competes with GE Aerospace for the 787, where it has lost significant market share to its U.S. rival. IAG announced the order after it reported better than expected first-quarter profit. CEO Luis Gallego told journalists that the company had been working on the new plane deal "for a long time". Analysts said the order was likely part of a longer-term strategy for the group, given most airlines won't receive current orders until the early 2030s. "Airlines need to think in multi-year timeframes: they will have planes that will be reaching the end of their lives and will need replacing. Boeing and Airbus are sold out for years," said Bernstein's Alex Irving. List prices for the A330-900neo and 787-10 are about $374 million and $397 million, respectively, based on January 2025 U.S. dollar terms, but airlines typically negotiate big discounts to official prices. IAG did not give the details of its discount. IAG also said that British Airways had secured options to buy up to 10 additional Boeing 787s, and that the group had purchase rights for up to 13 more A330-900neos under its agreement with Airbus. The order adds to an already large backlog of Boeing planes slated for UK purchasers — 149 in total, according to Boeing's published backlog. Planemakers have been wrestling with supply chain snags and other challenges that have delayed deliveries. Boeing is trying to ramp up production of its strongest-selling 737 MAX jet to a rate of 38 per month this year, after a difficult 2024 when output slumped due to a broad quality crisis that led to the replacement of its CEO. IAG, one of the industry's most influential aircraft buyers, is closely watched by rivals, especially as global trade tensions spotlight major aircraft deals. Bloomberg News on Thursday reported that IAG was poised to order 30 Boeing 787s and could secure options for further purchases.
Irish Independent
09-05-2025
- Business
- Irish Independent
Aer Lingus owner announces major Boeing and Airbus jet deals
The airline group, which includes British Airways and Iberia, said it will buy 32 US made Boeing 787-10 aircraft for British Airways and 21 French made Airbus SE A330neo planes for its Aer Lingus, Iberia or LEVEL brands. There's also an option to top up the deal with as many as 10 additional Boeing 787s and up to 13 additional Airbus A330neos, IAG said. The Boeing element of the deal had been flagged by the US as a win in the context of this week's UK:US trade agreement. On Friday Aer Lingus reported an operating loss of €55m for the first quarter of 2025, compared to an €82m operating loss in the same three months of 2024. The first three months are typically the weakest quarter of the year for the airline, Aer Lingus's CEO, Lynne Embleton said the performance represents a strong financial outcome and a significant improvement on Q1 2024 and flagged new aircraft entering service with the fleet. "The Q1 performance builds upon the underlying momentum seen in the business from 2024. The first two of six A321 XLR aircraft are now in service and operating on our new routes to Nashville and Indianapolis. These new aircraft and the remaining four XLRs which are expected to join the fleet later this year will support a compelling growth ambition that will benefit the airline, our customers, our employees and the economy.' IAG's first-quarter adjusted operating profit rose to €198m , beating the estimates amid lower fuel prices and higher revenue. Despite some evidence of softening traveller interest in the US market this year the company maintained its outlook, saying it is "continuing to see good demand for air travel across our core markets and for our brands." Bloomberg News reported on Thursday that Boeing was poised to win an order from IAG, in a deal tied to US President Donald Trump's new trade agreement with the UK. The Boeing portion of the accord marks a political win for Trump, whose tariff barrage has shaken global markets and tested the strong outlook for transatlantic routes that have bolstered major airlines such as BA.
