IndiGo Shatters Records with Massive Aircraft Order! the skies will never be the same
On Monday (June 19), India's most significant airline, IndiGo, made history by placing an enormous aircraft order of 500 Airbus A320 neo family planes at the Paris Air Show. This is the greatest number of aircraft ever to be requested in a single go, superseding the February order of 470 Airbus and Boeing aircraft placed by Air India.
IndiGo, who holds the majority of air travel in India with a market share of over 60 percent, will have a steady supply of aircraft until 2035 as a result of this order. This is essential for the airline to successfully continue to be the leader in India's ever-growing aviation market.
By the end of the decade, the no-frills {offering or providing only the essentials : not fancy, elaborate, or luxurious } airline is expected to receive 480 aircraft from its previous orders. This would bring the total number of planes to 1,000 by 2035. Though some of those planes will be used to replace outdated models, the airline will be significantly increasing its fleet size over the next dozen years.
Placing a large investment in the anticipation of growing interest
IndiGo's recent mega order demonstrates their confidence in the Indian aviation market, which is now the third largest in the world and is expanding rapidly. Last month, a record 1.32 crore domestic passengers traveled, outstripping the pre-pandemic highs.
The acquisition of this order has made it evident that IndiGo is not looking to be a mere participant in the growth story; instead, it wants to take the lead and be a dominant force.
Elbers, IndiGo's Chief Executive Officer, told reporters right after signing the contract with Airbus that this order will guarantee the airline for the next decade. He also noted that this order is in line with the Indian government's goal of creating India as a major aviation hub on the global level, allowing IndiGo to plan and construct its network for the long-term.
Tata group airlines, headed by Air India, have a similar aspiration. The combined market share of IndiGo and Tata airlines is now greater than 85%, with close to 1,500 aircraft on order. To put it into perspective, India's total commercial fleet is only 700 planes – less than the fleets of some of the major international airlines, and smaller than the number of planes IndiGo and Air India have on order. This shows that there is an immense potential for growth in the sector as demand increases.
At the same time, two Indian airlines have had a hard time. Go First has filed for bankruptcy while SpiceJet has been dealing with some issues. It is clear that air travel in India is in demand, but it is also known that the cost-sensitive Indian market is a struggle to thrive in, and several carriers have faced financial difficulty, with some even going out of business. Surprisingly, IndiGo has been an exception to this pattern.
Particulars regarding an IndiGo purchase
An order for 500 airplanes of the A320neo family was placed by Indigo and these craft are anticipated to be mostly A320Neo and A321Neo, with a few A321XLRs thrown in. The timeline for delivery is set between 2030 and 2035, leaving Indigo ample opportunity to decide the specific combination of planes that fits its needs with respect to its network and capacity.
Elbers indicated that they still have the opportunity to optimise the combination of 320s and 321s and even A321XLRs as they have the freedom to do so within the order.
The value of the order was not revealed by either IndiGo or Airbus, but according to industry analysts, it is estimated to be more than $50 billion calculated from the list prices. It is typical for big aircraft purchases to be discounted. When asked how the airline would pay for the aircraft, the CEO of IndiGo commented that they have "plenty of time" to work it out. Elbers also noted that "Indigo has a proven model in terms of financials," so they have the necessary time to evaluate all potential options.
Airbus' A320 family is the main range of single-aisle planes for the company. Except for the 40 turboprop planes utilized by IndiGo for regional flights, the sole single-aisle jets of the carrier are all from the A320 family.
IndiGo is likely to deploy the A320neo aircraft on domestic routes and short trips to neighbouring countries, while the A321s, particularly the A321XLRs, are set to be used for more extended overseas journeys, such as those to Europe. The airline is aiming to significantly expand its international network in the near future. According to Airbus, the A320neo's flying range is 3,400 nautical miles, while the A321neo can reach 4,000 nautical miles and the A321XLR can fly for up to 4,700 nautical miles, allowing it to stay in the air for up to 11 hours without stopping.
IndiGo has formulated ambitious plans for the growth of its network and capacity, both in India and internationally. At present, the airline has an armada of 300 planes and operates more than 1800 flights on a daily basis to link 78 local aerodromes and a few overseas locations. It is aiming to double its fleet size by the end of the decade and the 480 aircraft to be delivered by the year 2030 will facilitate that goal.
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Ordinance issued to increase number of Supreme Court judges from 34 to 38
New Delhi (PTI): The government has promulgated an ordinance to increase the strength of the Supreme Court from the present 34 judges to 38, including the Chief Justice of India.
The law ministry notified the ordinance on Saturday, which amended the Supreme Court (Number of Judges) Act, 1956, to increase the sanctioned strength of the top court.
So far, the sanctioned strength of the top court was 34, including the Chief Justice of India (CJI). Now, the number of judges has been increased by four, taking the sanctioned strength to 38.
The top court will now have 37 judges, other than the CJI.
With the apex court having two vacancies at present, and the ordinance coming into force immediately, the Supreme Court Collegium will now have to recommend six names for appointment as judges in the top court.
A bill will be brought in the Monsoon Session of Parliament to convert the ordinance – an executive order – into a law passed by Parliament.
The Union Cabinet had cleared a draft bill on May 5 to increase the number of apex court judges.
The strength of the Supreme Court was last increased from 30 to 33 (excluding the CJI) in 2019.
The Supreme Court (Number of Judges) Act, as originally enacted in 1956, put the maximum number of judges (excluding the CJI) at 10.
This number was increased to 13 by the Supreme Court (Number of Judges), Amendment Act, 1960, and to 17 by another amendment to the law.
The Supreme Court (Number of Judges) Amendment Act, 1986, augmented the strength of judges from 17 to 25, excluding the CJI.
A fresh amendment in 2009 further increased the strength from 25 to 30.
Article 124(3) of the Constitution lists the qualifications required to become a Supreme Court judge.
An Indian citizen who has either served as a high court judge for at least five years, or as an advocate for 10 years, or is a distinguished jurist, can be appointed to the top court.
The strength of the Supreme Court is increased based on the recommendations of the CJI, who writes to the Union law minister. After consulting the finance ministry, the Department of Justice under the law ministry moves the Cabinet with a draft bill.
