Latest news with #InternationalAirTransportAssociation
Mint
an hour ago
- Business
- Mint
IndiGo to buy 30 Airbus A350 aircraft, doubling its fleet
Livemint Published 1 Jun 2025, 05:24 PM IST Mint Image In IATA (International Air Transport Association), IndiGo announced that it would purchase another 30 Airbus A350 aircraft in addition to the 30 already in place. (This is a breaking news story. Check back for updates)
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Business Standard
an hour ago
- Business
- Business Standard
Indian aviation market emerging stronger, says IATA's Amitabh Khosla
Indian aviation market is emerging stronger with growth in connectivity, networks and airport infrastructure, and the country also has the potential for producing sustainable aviation fuel, global airlines' grouping IATA said on Sunday. However, the grouping also said that there is a high cost environment in India and also high uncertainty for tax planning. Amitabh Khosla, Country Director India, Nepal & Bhutan at the International Air Transport Association (IATA) on Sunday said the Indian aviation market is witnessing a significant improvement on the back of emergence of stronger airlines within the country, the growth of connectivity and networks. "We are also seeing significant increase in the airport infrastructure, so it gives a good foundation, a base on which India will build further," he said. At a briefing in the national capital on the sidelines of the World Air Transport Summit (WATS) being organised by IATA, Khosla also said India is one of the largest producers of ethanol. India has the potential to produce Sustainable Aviation Fuel (SAF). "We understand from our discussions with some of the oil companies in the country that we are looking at India SAF production coming about in 2026," he said. IATA represents about 350 airlines comprising over 80 per cent of the global air traffic. Around 1,700 participants are expected to attend WATS and the grouping will also be holding its Annual General Meeting (AGM) in India for the first time after 42 years. According to IATA, India's aviation industry directly employs 3,69,700 people and generates USD 5.6 billion of GDP. When indirect, induced and tourism impacts are included, the totals rise to 7.7 million jobs and USD 53.6 billion of GDP (1.5 per cent). (Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
Trade Arabia
3 hours ago
- Business
- Trade Arabia
$1.3bn in airline funds blocked by govts: IATA
Airline funds worth about $1.3 billion are blocked from repatriation by governments as of end April 2025, according to International Air Transport Association (IATA). This is a significant amount, although it is an improvement of 25% compared with the $1.7 billion reported for October 2024, it said. IATA urged governments to remove all barriers preventing airlines from the timely repatriation of their revenues from ticket sales and other activities in accordance with international agreements and treaty obligations. "Ensuring the timely repatriation of revenues is vital for airlines to cover dollar-denominated expenses and maintain their operations. Delays and denials violate bilateral agreements and increase exchange rate risks. Reliable access to revenues is critical for any business—particularly airlines which operate on very thin margins. Economies and jobs rely on international connectivity. Governments must realize that it is a challenge for airlines to maintain connectivity when revenue repatriation is denied or delayed,' said Willie Walsh, IATA's Director General. Ten countries are responsible for 80% of blocked funds, it said. Pakistan and Bangladesh, previously in the top five blocked funds countries, have made notable progress in clearing their backlog to $83 million and $92 million, respectively (from $311 million and $196 million in October 2024, respectively). Mozambique has climbed up to the top of blocked funds countries, withholding $205 million from airlines, compared with $127 million in October 2024. The Africa and Middle East (AME) region accounts for 85% of total blocked funds, at $1.1 billion as of end April 2025.
Bloomberg
3 hours ago
- Business
- Bloomberg
Airline Industry Benefiting From Lower Oil Price, IATA Head Says
The global aviation industry is benefiting from lower oil prices because they're bringing down the cost of kerosene, the head of the IATA industry association said. The reduction in oil prices is in turn helping drive down ticket prices, said Willie Walsh, the director general of the International Air Transport Association.
Iraq Business
a day ago
- Business
- Iraq Business
Iraqi Airways closer to Removal of EU Ban
By John Lee. Prime Minister Mohammed S. Al-Sudani chaired a key meeting with representatives from the International Air Transport Association (IATA) to track progress on lifting the European Union's ban on Iraqi Airways. During the session, the IATA delegation and the Head of the Iraqi Civil Aviation Authority (ICAA) presented a detailed update, confirming that 71% of the agreed corrective action plan has been implemented. Discussions also explored the signing of a potential Memorandum of Understanding (MoU) between Iraq and IATA to further formalise collaboration. The review included compliance with IOSA (IATA Operational Safety Audit) and EASA (European Union Aviation Safety Agency) standards, with IATA affirming improved operational performance and pledging continued support through technical training to bolster aviation governance in Iraq. Topics also covered included airport security, pilot development programmes, and the importance of aligning Iraqi Airways with global aviation service standards in areas such as cargo, ground services, and fuel operations. (Source: PMO)
