Latest news with #Pratt&Whitney
India.com
2 days ago
- Business
- India.com
Rs 30000000000: Indian aviation industry may lose huge amount of money due to..., no connection with recent Air India crash
New Delhi: Rating agency ICRA has estimated in its latest report that the total loss of the aviation industry during the current financial year 2025-26 could be between Rs 2 and 3,000 crores. This is in line with the estimate of loss in the last financial year 2024-25. What is the reason behind the losses? The report said that companies may incur this loss due to the continuous increase in aviation fuel prices. During the financial year 2023-24, the companies had a net profit of Rs 1,600 crore. Also, the domestic air passenger traffic growth rate has declined to 7.6 percent. According to the report, the industry saw stable pricing power in FY 2025, stable yields and domestic air passenger traffic growth rate declined to 7.6 percent. Domestic air passenger traffic in June grew 5.1 per cent year-on-year to over 1.38 crore, but declined marginally compared to May, it said in a report released on Friday, July 11. Domestic air passenger traffic estimated at 138.7 lakh in June 2025 Maintaining a stable outlook for the industry, ICRA said supply chain disruptions, including Pratt & Whitney engine problems, continue to impact capacity and costs. Domestic air passenger traffic was estimated at 138.7 lakh in June 2025, up 5.1 per cent from 132.1 lakh in June 2024. However, it saw a marginal decline of 1.3 per cent on a sequential basis. Capacity deployment of airlines in June 2025 was 4.9 per cent higher than June 2024; however, it was 2.3 per cent lower than May 2025. How did India-Pakistan conflict affect Indian aviation industry? The operating costs of the Indian aviation industry are likely to have increased over the past few months (due to flight cancellations and other operational challenges following the India-Pakistan conflict). Rising crude oil prices (due to the Israel-Iran conflict), closure of airspace over Iran and Pakistan (for Indian carriers), likely increase in insurance premiums (after the recent plane crash) and possible hesitancy to travel – potential downside risks need to be monitored closely.
Daily Mirror
2 days ago
- Business
- Daily Mirror
Wizz Air scraps dozens of routes as hot weather is breaking its planes
Wizz Air has announced that it will suspend operations from its Abu Dhabi hub. The budget airline currently operates more than 30 routes from the Middle Eastern base. Wizz Air has scrapped a number of routes as "hot and harsh" weather is damaging its planes. On Monday, the Hungarian airline announced that it would discontinue its Abu Dhabi operations starting in August. Ticket sales have been halted from the Middle Eastern capital to Varna from July 14, followed by Belgrade on July 19, Tirana on July 20, Kutaisi on July 29, and Sarajevo on August 31. Six additional routes will be temporarily suspended, including Krakow (July 29–September 19), Budapest (paused until September 1), Vienna (paused until September 21), Katowice (paused until October 26), and both Astana and Samarkand (paused until November 1). Services to Sofia and Cluj have already been discontinued, Aviation Weekly reports. The publication also notes that Pratt & Whitney GTF engine issues have led to 20% of Wizz Air's Airbus A320neo-family fleet being grounded over the past financial year. The budget airline currently operates more than 30 routes from its Abu Dhabi base. Last month, Wizz Air CEO József Váradi said the carrier was strategically reducing operations in 'hot and harsh' environments. He explained that capacity would be reallocated to lower-risk areas to help reduce operating costs and prolong engine life. 'Hot and harsh is a significant issue which we are going to address,' the CEO said. 'That will not only lower operating costs and extend engine lifetime, but it will also increase productivity on sectors.' In a statement issued this morning, the airline said three main "operational challenges over the past year" led to the decision to "suspend all locally based flight operations effective 1 September 2025". They are: • Engine reliability constraints, particularly in hot and harsh environments, which have impacted aircraft availability and operational efficiency. • Geopolitical volatility, which has led to repeated airspace closures and operational disruptions across the region, as well as weakened consumer demand. • Regulatory barriers, which have limited the company's ability to access and scale in key markets. Mr. Váradi added: "We have had a tremendous journey in the Middle East and are proud of what we have built. I thank our highly dedicated employees for their relentless efforts and commitment to developing the WIZZ brand in new and dynamic markets. However, the operating environment has changed significantly. "Supply chain constraints, geopolitical instability, and limited market access have made it increasingly difficult to sustain our original ambitions. While this was a difficult decision, it is the right one given the circumstances. We continue to focus on our core markets and on initiatives that enhance Wizz Air's customer proposition and build shareholder value." Passengers with existing bookings beyond 31 August will be contacted directly via email with options for refunds or alternative travel arrangements. Customers who booked through third-party providers are advised to contact their respective agents. The suspensions do not affect other flights of the Wizz Air group. The announcements come as Wizz extends its operations in other markets, including by adding several new routes from its UK base at Luton Airport. From last month, Wizz Air started whisking passengers away four times weekly from Gatwick to the quaint Polish city of Wroclaw. Come the start of August, Londoners will also have the chance to jet off from the same bustling hub to the Polish capital, Warsaw, and even Medina in Saudi Arabia. Birmingham hasn't been left behind; the heart of the West Midlands gained thrice-weekly connections to Rome as of June, with future plans to link up with Sibiu and Suceava in Romania. Last week Mirror Travel sat down with Yvonne Moynihan, the new managing director of the UK wing of the airline. In a wide-ranging interview, she wanted the bag fees to be set for a hike due to upcoming European Union legislation. Ms Moynihan also admitted that she had recently been stung by the airline's hand-luggage rules, forking out for a £60 fine as a result.
Economic Times
5 days ago
- Business
- Economic Times
Domestic air passenger traffic touches 1.38 crore in June, says report
Domestic air passenger traffic rose 5.1 per cent to over 1.38 crore in June on an annual basis but declined marginally compared to May, a report said on Friday. Rating agency ICRA also said the country's aviation industry is projected to report a net loss of Rs 2,000 to 3,000 crore in FY2026, amid rising ATF prices and geopolitical risks. While maintaining a stable outlook for the industry, ICRA said that supply chain disruptions, including Pratt & Whitney engine issues, continue to impact capacity and costs. "For June 2025, domestic air passenger traffic was estimated at 138.7 lakh, 5.1 per cent higher than 132.1 lakh in June 2024. However, it witnessed a marginal decline of 1.3 per cent on a sequential basis. The airlines' capacity deployment in June 2025 was 4.9 per cent higher than June 2024; however, it was 2.3 per cent lower compared to May 2025," it said. In the first quarter of 2025-26, domestic air passenger traffic stood at over 4.22 crore. According to the report, the industry witnessed steady pricing power in FY2025, with stable yields and domestic air passenger traffic growth tapered to 7.6 per cent. "... emerging geopolitical and operational headwinds -- in the form of rising crude oil prices (because of the Israel-Iran conflict), closure of the airspace over Iran and Pakistan (for Indian carriers), probable rise in insurance premia (after the recent aeroplane crash) and possible hesitation to travel -- warrant close monitoring for potential downside risks. "The operating costs for the Indian aviation industry are likely to have increased in the past couple of months (due to flight cancellations and other operational challenges following the India-Pakistan conflict). Nevertheless, the overall passenger traffic and the pricing so far have remained steady," it said.
Time of India
5 days ago
- Business
- Time of India
Domestic air passenger traffic touches 1.38 crore in June, says report
Domestic air passenger traffic rose 5.1 per cent to over 1.38 crore in June on an annual basis but declined marginally compared to May, a report said on Friday. Rating agency ICRA also said the country's aviation industry is projected to report a net loss of Rs 2,000 to 3,000 crore in FY2026, amid rising ATF prices and geopolitical risks. While maintaining a stable outlook for the industry, ICRA said that supply chain disruptions, including Pratt & Whitney engine issues, continue to impact capacity and costs. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Remember Him? Sit Down Before You See What He Looks Like Now 33 Bridges Undo "For June 2025, domestic air passenger traffic was estimated at 138.7 lakh, 5.1 per cent higher than 132.1 lakh in June 2024. However, it witnessed a marginal decline of 1.3 per cent on a sequential basis. The airlines' capacity deployment in June 2025 was 4.9 per cent higher than June 2024; however, it was 2.3 per cent lower compared to May 2025," it said. In the first quarter of 2025-26, domestic air passenger traffic stood at over 4.22 crore. Live Events According to the report, the industry witnessed steady pricing power in FY2025, with stable yields and domestic air passenger traffic growth tapered to 7.6 per cent. "... emerging geopolitical and operational headwinds -- in the form of rising crude oil prices (because of the Israel-Iran conflict), closure of the airspace over Iran and Pakistan (for Indian carriers), probable rise in insurance premia (after the recent aeroplane crash) and possible hesitation to travel -- warrant close monitoring for potential downside risks. "The operating costs for the Indian aviation industry are likely to have increased in the past couple of months (due to flight cancellations and other operational challenges following the India-Pakistan conflict). Nevertheless, the overall passenger traffic and the pricing so far have remained steady," it said.
Business Standard
5 days ago
- Business
- Business Standard
Domestic air passenger traffic touches 13.8 mn in June, says report
Domestic air passenger traffic rose 5.1 per cent to over 1.38 crore in June on an annual basis but declined marginally compared to May, a report said on Friday. Rating agency ICRA also said the country's aviation industry is projected to report a net loss of Rs 2,000 to 3,000 crore in FY2026, amid rising ATF prices and geopolitical risks. While maintaining a stable outlook for the industry, ICRA said that supply chain disruptions, including Pratt & Whitney engine issues, continue to impact capacity and costs. "For June 2025, domestic air passenger traffic was estimated at 138.7 lakh, 5.1 per cent higher than 132.1 lakh in June 2024. However, it witnessed a marginal decline of 1.3 per cent on a sequential basis. The airlines' capacity deployment in June 2025 was 4.9 per cent higher than June 2024; however, it was 2.3 per cent lower compared to May 2025," it said. In the first quarter of 2025-26, domestic air passenger traffic stood at over 4.22 crore. According to the report, the industry witnessed steady pricing power in FY2025, with stable yields and domestic air passenger traffic growth tapered to 7.6 per cent. "... emerging geopolitical and operational headwinds -- in the form of rising crude oil prices (because of the Israel-Iran conflict), closure of the airspace over Iran and Pakistan (for Indian carriers), probable rise in insurance premia (after the recent aeroplane crash) and possible hesitation to travel -- warrant close monitoring for potential downside risks. "The operating costs for the Indian aviation industry are likely to have increased in the past couple of months (due to flight cancellations and other operational challenges following the India-Pakistan conflict). Nevertheless, the overall passenger traffic and the pricing so far have remained steady," it said.
