One of the co-founders of Indian airline IndiGo is seeking to modify rules on the sale and purchase of shares by its main shareholders amid a bitter spat with his founding partner in the country’s largest carrier. Rakesh Gangwal, who co-founded IndiGo with Rahul Bhatia, is seeking to delete certain rules in the company's articles of association that give Bhatia the right of first refusal should Gangwal choose to sell his shares, a stock exchange filing here from parent group InterGlobe Aviation showed. Gangwal, an American and aviation industry veteran who spent years in senior roles at United Airlines and US Airways, and Bhatia, who runs things on the ground in India, each control stakes of slightly less than 40% in InterGlobe along with their respective families, giving them both a major say in the carrier’s strategy. Gangwal, who alleged violations of corporate governance rules at the parent group in July, also wants to remove an article that prevents either of the co-founders from buying publicly-listed shares in InterGlobe and potentially triggering an open offer for the rest of the company. If the shareholders approve the amendments at a Jan. 29 extraordinary general meeting (EGM) requested by Gangwal, he or Bhatia could get a free hand to raise or cut stakes in the company.<br/>
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Ryanair may only receive its first delivery of the grounded 737 MAX aircraft from Boeing in October, CE Michael O’Leary told German magazine Wirtschaftswoche. The 737 MAX, Boeing’s fastest-selling aircraft, has not flown since last March following two crashes which claimed 346 lives. O’Leary told Reuters last month that Ryanair may not receive any MAX aircraft in time for its summer season. One of the world’s largest airlines, Ryanair has 135 of the planes on order, but none in service. O’Leary has previously said it would not take orders in July or August because it is the airline’s busiest time of the year. “We were meant to have 58 planes by the summer,” O’Leary said in the interview, extracts from which were published on Friday. “That went down to 30, then 20, then 10 and the latest is maybe only five. It’s possible we’ll only get the first jets in October 2020.” In contrast to other airlines which have already agreed compensation with Boeing, O’Leary said he would only discuss recompense after the planes were delivered.<br/>
Hundreds of Hong Kong Airlines pilots and cabin crew are facing the axe as the struggling carrier battles to stay afloat. After narrowly avoiding going out of business in December – when only a last-minute cash injection from its indebted owner HNA Group stopped the government revoking its licence – the airline has to cut costs to avoid running out of money again. One of the conditions imposed in December by the Air Transport Licensing Authority (ATLA) was for HKA to maintain and improve its cash balance, which is likely to put several hundred jobs at risk. As of January 1, the ailing airline continued to employ 3,481 people, but the loss of its long-haul routes, and a reduction from 39 planes to 28 is likely to see that number slashed, and job losses could dwarf the 600 employees Cathay Pacific cut at its headquarters in May 2017. Pilots, the single most expensive employees on the payroll, are at greatest risk. According to some who talked to the Post as many as 200 aircrew are vulnerable, while of the 1,573 cabin crew – a number that has fallen from 1,926 since the start of last year – as many as a third of flight attendants’ jobs could be at risk, sources estimated. When asked about the size and scope of possible cuts in frontline staff, the airline did not dispute the numbers provided by the Post. A company spokeswoman said it adjusted “our staff strength from time to time based on operational needs.” Airline sources said it would need 300 pilots at most, after the rest of its planes were either surprisingly impounded by Hong Kong airport’s operator, or returned to aircraft leasing companies last year.<br/>