Weekly News Debrief: 20-26 January

 NEWS HEADLINES THIS WEEK:

IndiGo Reports Decline in Q3 Profit Due to Forex Losses

  • InterGlobe Aviation, the operator of IndiGo, announced an 18.6% decrease in net profit for the third quarter ending December 31, 2024. 
  • The profit fell to ₹2,448.80 crore from ₹2,998 crore in the same period the previous year. This decline is primarily attributed to a significant foreign exchange loss of ₹1,456.4 crore, stemming from the depreciation of the Indian rupee. 
  • Despite steady air travel demand and lower fuel costs, overall expenses increased by 20%.
  •  Excluding forex losses, the airline's profits saw a 26% rise. Passenger yields decreased by 1%, while revenue grew by 13.7% to ₹22,110.70 crore. IndiGo also reported a 12% increase in available seat kilometers (ASK) and anticipates a 20% year-on-year growth in ASK for the January-March period.

Emirates A380 Makes Emergency Landing in Bengaluru

  • On January 24, 2025, an Emirates Airline Airbus A380, operating flight EK342 from Dubai to Kuala Lumpur, was diverted to Bengaluru's Kempegowda International Airport due to a medical emergency onboard. 
  • The aircraft, registered as A6-EOU, departed Dubai at 11:27 AM GST, approximately 47 minutes behind schedule. Mid-flight, the crew declared a medical emergency, prompting the unscheduled landing in Bengaluru. 
  • Details regarding the nature of the medical emergency have not been disclosed. 

DGCA Urges Airlines to Rationalize Airfares for Mahakumbh

  • In light of the ongoing Maha Kumbh Mela in Prayagraj, the Directorate General of Civil Aviation (DGCA) has requested airlines to rationalize airfares to the city. 
  • An analysis by travel app Ixigo indicated that bookings and airfares for flights to Prayagraj have surged, with ticket prices increasing by up to 21% for Delhi-Prayagraj flights. 
  • To accommodate the heightened demand, the DGCA has approved 81 additional flights in January, bringing the total air connectivity to Prayagraj to 132 flights from various parts of the country. 

Government Plans to Develop 50 New Airports

  • Aviation Minister Ram Mohan Naidu announced plans to construct 50 new airports within the next five years, aiming to establish Delhi as a major international aviation hub.
  •  Speaking at the World Economic Forum 2025, he emphasized India's commitment to expanding its aviation infrastructure through international partnerships and technological advancements.
  •  This initiative is part of a broader strategy to enhance air connectivity across the country and support the growing demand in the aviation sector.


South Korea to Release Preliminary Report on Jeju Air Crash

  • South Korea is set to release a preliminary report by January 27, 2025, on the Jeju Air crash that occurred last month, resulting in 179 fatalities. 
  • The investigation is focusing on the role of a bird strike during the landing of flight 7C2216 at Muan International Airport. 
  • Duck feathers and blood were found in the plane's engines, confirming bird strikes. 
  • The report will be shared with international bodies and authorities from the U.S., France, and Thailand. 
  • A comprehensive analysis of flight data and cockpit voice recordings is expected to take several months. 


Rachel Reeves Indicates Support for Third Runway at Heathrow

  • Chancellor Rachel Reeves has expressed support for the construction of a third runway at Heathrow Airport. 

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