Latest news with #IATAOperationalSafetyAudit
Business Standard
9 hours ago
- Business
- Business Standard
Spicejet gains as Q4 PAT zooms 173% YoY to Rs 325 cr
Spicejet added 2.31% to Rs 44.82 after the company's standalone net profit surged 173% to Rs 324.87 crore in Q4 FY25 as against Rs 119 crore posted in Q4 FY24. However, revenue from operations fell 13.4% year on year to Rs 1,360.87 crore in the fourth quarter of FY25. EBITDA stood at Rs 526.20 crore in Q4 FY25, up 36.10% as against Rs 386.60 posted in Q4 FY24. The company EBITDAR of Rs 689.90 crore in the fourth quarter of FY25, up 11.83% year on year. During the fourth quarter of total passenger revenue per available seat kilometer (RASK) stands at Rs 5.32. Passenger Load Factor (PLF) stood at an impressive 88.1%. In Q4 FY25, the Promoter Group of SpiceJet completed an equity infusion of Rs 500 crore, including the final tranche of Rs 294.09 crore during the quarter. As part of its summer 2025 schedule, the airline launched 24 new domestic flights and expanded its network by adding three new destinations-Tuticorin, Porbandar, and Dehradun. Additionally, SpiceJet successfully renewed its prestigious IATA Operational Safety Audit (IOSA) certification, reinforcing its commitment to global safety standards. Ajay Singh, chairman and managing director, SpiceJet, said, As we share our quarterly and annual performance today, our thoughts are with those affected by the tragic Air India crash in Ahmedabad. This heartbreaking tragedy has deeply affected us all, and our thoughts are with the families and loved ones of those lost in this devastating crash. The entire aviation community stands together in this moment of grief. SpiceJet has delivered a strong set of results, marking a significant turnaround in our operational and financial performance. Posting a profit for the second consecutive quarter and for the full financial year after seven years is a reflection of the tireless efforts of our team, the continued trust of our passengers, and the resilience of our brand. With a strengthened balance sheet, renewed investor trust and continued network expansion, SpiceJet is well positioned for sustainable growth. While the revival of our grounded fleet has taken longer than anticipated due to complex global supply chain and engine overhaul challenges, momentum is now clearly building. Our partnerships with world class OEMs and MROs like StandardAero and Carlyle Aviation are bearing fruit, and engine overhauls are underway. With overhauled engines now returning, we expect a steady rampup in operational capacity in the weeks ahead. Meanwhile, the company has entered into a term sheet with Carlyle Aviation Management (CAML) to restructure aircraft lease obligations amounting to $121.18 million as of 31 March 2025. The agreement is aimed at optimizing the airlines capital structure and improving liquidity, as the company continues efforts to streamline operations and strengthen its financial position. SpiceJet is Indiaʹs favourite airline that has made flying affordable for more Indians than ever before. SpiceJet is an IATA and IOSA certified airline that operates a fleet of Boeing 737s & Q400s and is one of the countrys largest regional players operating multiple daily flights under UDAN or the Regional Connectivity Scheme. The majority of the airlineʹs fleet offers SpiceMax, the most spacious economy-class seating in India
Time of India
15 hours ago
- Business
- Time of India
SpiceJet Q4 Profit: SpiceJet posts record Q4 profit, marks first annual profit in seven years, ET TravelWorld
Advt By , ETTravelWorld Join the community of 2M+ industry professionals. Subscribe to Newsletter to get latest insights & analysis in your inbox. All about ETTravelWorld industry right on your smartphone! Download the ETTravelWorld App and get the Realtime updates and Save your favourite articles. SpiceJet has reported its highest-ever quarterly profit of INR 319 crore for the fourth quarter of FY25, a significant increase from INR 26 crore in the previous quarter. The airline also recorded a net profit of INR 48 crore for the full fiscal year, marking its first annual profit in seven revenue rose by 17.6 per cent quarter-on-quarter to INR 1,942 crore, while EBITDA grew from INR 209 crore in Q3 to INR 527 crore in Q4. The airline achieved a passenger load factor of 88.1 per cent , signalling strong demand, while RASK stood at INR the full year, SpiceJet posted total revenue of INR 6,736 crore. Though down from INR 8,497 crore in FY24, the airline managed to improve profitability through cost controls and higher operational efficiency. Passenger RASK increased 9.3 per cent year-on-year, reaching INR airline's net worth turned positive in Q3 FY25 and rose to INR 683 crore by the end of the year, aided by a INR 500 crore equity infusion by the Promoter Group. The final tranche of INR 294.09 crore was received in the fourth Q4, the airline added 24 domestic routes under its Summer 2025 schedule, including new destinations Tuticorin, Porbandar, and Dehradun. The carrier also launched special Haj operations from Srinagar, Guwahati, Gaya, and Kolkata, and resumed international operations with Kathmandu as the first destination of Singh, Chairman and Managing Director of SpiceJet, acknowledged the tragic Air India crash in Ahmedabad, offering condolences to the affected added, 'Posting a profit for the second consecutive quarter and for the full financial year after seven years is a reflection of the tireless efforts of our team… With a strengthened balance sheet, renewed investor trust and continued network expansion, SpiceJet is well-positioned for sustainable growth.'The airline has also renewed its IATA Operational Safety Audit (IOSA) certification and received credit rating upgrades. Engine overhauls, in partnership with StandardAero Inc. and Carlyle Aviation, are underway to restore grounded fleet capacity.
Korea Herald
6 days ago
- Business
- Korea Herald
Air Premia Becomes Member of IATA, Marking Major Milestone Toward Global Expansion
SEOUL, South Korea, June 11, 2025 /PRNewswire/ -- Air Premia, Korea's premium hybrid airline, announced today that it has officially joined the International Air Transport Association (IATA) as a member—an achievement that follows closely on the heels of the company receiving the latest IOSA (IATA Operational Safety Audit) registration. This dual milestone positions Air Premia as a rising global player in the international aviation industry. Achieving IATA membership immediately after obtaining registration under the ISM (IOSA Standards Manual) 16th Edition is an exceptional case in the aviation sector. The recognition affirms that Air Premia's safety and operational systems meet the most rigorous international standards. The airline earned its IOSA registration in May 2025, just three years after launching international operations in 2022. The registration validates compliance with more than 900 globally recognized safety and operational requirements. On June 1, Air Premia was officially registered as a member of IATA, becoming the seventh South Korean airline to receive this distinction. IATA is the leading global trade association for the air transport industry, representing approximately 350 airlines across 120 countries. membership signifies a carrier's alignment with the highest levels of safety, reliability, and operational capability. With IATA membership now secured, Air Premia expects to further elevate its international credibility while expanding its global cooperation network. The airline is actively considering participation in a major international airline alliances and other global aviation platforms—an initiative expected to accelerate the enhancement of its services and global competitiveness. "This marks a pivotal moment for Air Premia as we continue our journey toward becoming a globally recognized airline," said Yoo Myung-sub, CEO of Air Premia. "Our IATA membership reflects our ongoing commitment to the highest safety standards and differentiated service. We will continue to pursue membership in a global airline alliance and enhance the travel experience for our customers." Specializing in premium service on medium- to long-haul routes, Air Premia seeks to deliver a new standard of air travel. With a foundation of international certifications and industry recognition, the airline is committed to continued growth as a global carrier.
Shafaq News
04-06-2025
- Business
- Shafaq News
EU extends ban on Iraqi Airways flights
Shafaq News/ The European Union has extended its ban on Iraqi Airways flights for another six months, maintaining the carrier's exclusion from EU airspace, an Iraqi lawmaker confirmed on Wednesday. The decision comes despite a recent announcement by the Iraqi government that 71% of its corrective action plan—aimed at meeting EU aviation safety standards—has been completed. Karwan Ali Yarwese, a member of the Parliamentary Transport and Communications Committee, linked the EU's decision to Iraq's ongoing failure to meet international aviation benchmarks, citing continued non-compliance with International Civil Aviation Organization (ICAO) standards, outdated airport infrastructure, and other unresolved safety concerns. Transport Ministry spokesperson Maytham al-Safi clarified to Shafaq News that the EU's update was part of its regular biannual review of airlines subject to airspace restrictions, emphasizing that the decision does not represent a new sanction against the national carrier. Al-Safi also noted that Iraqi Airways has made gradual progress under the IATA Operational Safety Audit (IOSA) program. Completion of the remaining corrective actions, he added, would pave the way for the airline to seek Third Country Operator (TCO) certification, a necessary step to resume operations in European airspace. Earlier this year, Prime Minister Mohammed Shia al-Sudani appointed Minister of Reconstruction and Housing Benkin Rikani to lead the Civil Aviation Authority and accelerate efforts to meet EU criteria. The leadership shift coincided with the reinstatement of the former Iraqi Airways director and the signing of several aviation-related contracts aimed at regulatory improvements. Some of these agreements, however, are now under formal review. Iraq's Integrity Commission, along with several members of parliament, has opened investigations into multiple contracts, citing concerns over possible irregularities and a lack of transparency. The EU first imposed a flight ban on Iraqi Airways in 1991 following Iraq's invasion of Kuwait and the imposition of international sanctions. Although the restrictions were lifted in 2009, they were reinstated in 2015 due to ongoing breaches of aviation safety standards.
Iraq Business
08-03-2025
- Business
- Iraq Business
Iraqi Airways Advances Towards Lifting EU Aviation Ban
By John Lee. Iraq's Ministry of Transport has reaffirmed its commitment to meeting the International Air Transport Association (IATA) requirements as part of ongoing efforts to lift the European airspace ban on Iraqi Airways. According to a statement from the Ministry's media office, Iraqi Airways is working towards obtaining the IATA Operational Safety Audit (IOSA) certification in 2025, a key step towards lifting the European ban. This will be followed by securing the Third Country Operator (TCO) certificate, allowing the national carrier to resume flights in European airspace. The Ministry confirmed its adherence to the required timelines in coordination with IATA and is actively addressing key aviation standards, including: Fleet standardisation and reactivation of grounded aircraft. Enhancing specialised aviation crews and diversifying service providers. Implementing aircraft performance monitoring systems. Upgrading quality assurance processes to meet all compliance requirements. Modernising operational manuals and introducing the Electronic Flight Bag (EFB) system. Adopting global aircraft maintenance and planning systems, with agreements signed with foreign service providers for ground handling and cargo operations. The Ministry also noted that some requirements extend beyond Iraqi Airways to include the Iraqi Civil Aviation Authority (ICAA). During a recent meeting with Prime Minister Mohammed S. Al-Sudani and Transport Minister Razzaq Muhaibis Al-Saadawi, IATA Vice President Kamil Al-Awadhi confirmed that Iraq has made significant progress, with 56% completion of the corrective action plan for lifting the ban. The statement highlighted that while past progress towards lifting the EU ban was minimal, Iraqi Airways is now making tangible advancements in coordination with IATA's technical team. (Source: Ministry of Transport)
