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Jet Airways is near a deal to buy 50 A220 jets from Airbus, news agency Reuters reported, citing two people familiar with the matter said. Once a major player in the Indian aviation space, Jet Airways has not flown since April 17, 2019 and is being revived under the ownership of the Jalan-Kalrock consortium. Earlier this year, it got its air operator certificate revalidated by the aviation safety regulator DGCA.

In a June report, Press Trust of India, citing sources, had reported that Jet Airways is will be initially flying on domestic routes only.

Jet Airways will find a new rival in Akasa Air, which is expected to start operations soon. 

Backed by billionaire Rakesh Jhunjhunwala, Akasa received its flying license from the aviation regulator Directorate General of Civil Aviation after successfully operating test flights.

The low-cost airline, which took delivery of its first Boeing Co. 737 Max jet last month, intends to start operations with two aircraft. Akasa will add 18 jets by the end of the year ending March 2023 and then induct 12 to 14 aircraft every year, bringing its fleet to a total of 72 planes over five years.

Akasa's other backers include Aditya Ghosh, the executive who spearheaded low-cost carrier IndiGo for nearly a decade. 

After acquiring Air India last year, the Tata Group is reportedly also currently in talks with Boeing and Airbus to place a sizeable order.

Even as the passenger numbers are rising amid the receding pandemic, rising aviation turbine fuel (ATF) prices due to Russia-Ukraine war are hurting the profitability of Indian carriers 

In a recently released report, ratings agency ICRA said while the passenger numbers are recovering after the pandemic, elevated ATF (aviation turbine fuel) prices will continue to weigh on the earnings of Indian carriers in 2022-2023.

 

 

 

This story has been published from a wire agency feed without modifications to the text. Only the headline has been changed.

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