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Hindustan Times
7 hours ago
- Business
- Hindustan Times
PM Narendra Modi reveals why he ‘politely declined' Donald Trump's dinner offer: ‘Thank you, but…'
A report by ICICI Securities indicates a decline in air passenger numbers following the Air India crash on June 12, 2025, after a brief recovery post-India-Pakistan ceasefire. Domestic passengers fell from 490,000 to 460,000, while international travel decreased from 118,000 to 102,000. Rising crude oil prices may further impact the aviation sector amidst ongoing geopolitical tensions.
Hindustan Times
9 hours ago
- Business
- Hindustan Times
Air passengers in India likely to decline post-Air India plane crash: Report
Post recovery of Air passengers in May 2025 after the cessation of India-Pak hostilities, a report by ICICI Securities says the aviation ministry passenger travel data number indicates further decline in June. "As per daily data reported by MoCA, average daily passengers had seen a decline in May'25 following the geopolitical conflict. However, post-declaration of ceasefire, domestic air travel had returned to normalcy. Average daily passengers again declined post the unfortunate Air India accident on 12 Jun'25," the ICICI Securities report noted. According to the report the average daily passengers in April this year was at 490K, however, a decline was witnessed in May 2025 due to India-Pakistan geopolitical conflict. However, Average daily pax returned to 490l before 12 Jun'25 (before Air India incident), post which it has declined to 460k again. On the international travel side, international air travel has experienced a setback since May 2025, weighed down by geopolitical issues like the India-Pakistan conflict. Recently, Air India has reduced its international services on wide-body aircraft by 15 per cent for the next few weeks. The decision comes after the tragic loss of 241 lives on board Air India-171 flight, which crashed in Ahmedabad. "Air India cancelled 83 wide-body operations between 12 and 17 Jun'25. As per daily data reported by MoCA, average daily international passengers have declined from 118k in Apr'25 to 113k in May'25 and 102k in Jun'25," adds the report. However, ICICI securities believes that the weakness in Aviation Turbine Fuel (ATF) price could offset the weakness seen in passenger demand in May/Jun' prices have experienced weakness as average ATF prices declined 8.2 per cent in Q1FY26 to ₹86k/KL vs. ₹94k/KL in Q4FY25. But now, because of the recent geopolitical crisis, crude oil prices are going up, which can change the dynamics for the airline sector. "On the backdrop of the current geopolitical scenario, crude oil prices have increased approx. 20 per cent since the start of Jun'25 to USD 77/bbl., as on19 Jun'25. This surge in prices may pose a threat to earnings in the seasonally weak Q2 ahead," the report said.
India Gazette
10 hours ago
- Business
- India Gazette
Air passengers in India likely to decline in June, after tragic Air India incident: Report
New Delhi [India], June 20 (ANI): Post recovery of Air passengers in May 2025 after the cessation of India-Pak hostilities, a report by ICICI Securities says the aviation ministry passenger travel data number indicates further decline in June. 'As per daily data reported by MoCA, average daily passengers had seen a decline in May'25 following the geopolitical conflict. However, post-declaration of ceasefire, domestic air travel had returned to normalcy. Average daily passengers again declined post the unfortunate Air India accident on 12 Jun'25,' the ICICI Securities report to the report the average daily passengers in April this year was at 490K, however, a decline was witnessed in May 2025 due to India-Pakistan geopolitical conflict. However, Average daily pax returned to 490l before 12 Jun'25 (before Air India incident), post which it has declined to 460k the international travel side, international air travel has experienced a setback since May 2025, weighed down by geopolitical issues like the India-Pakistan Air India has reduced its international services on wide-body aircraft by 15 per cent for the next few weeks. The decision comes after the tragic loss of 241 lives on board Air India-171 flight, which crashed in Ahmedabad. 'Air India cancelled 83 wide-body operations between 12 and 17 Jun'25. As per daily data reported by MoCA, average daily international passengers have declined from 118k in Apr'25 to 113k in May'25 and 102k in Jun'25,' adds the ICICI securities believes that the weakness in Aviation Turbine Fuel (ATF) price could offset the weakness seen in passenger demand in May/Jun' prices have experienced weakness as average ATF prices declined 8.2 per cent on a QoQ basis in Q1FY26 to Rs 86k/KL vs. Rs 94k/KL in Q4FY25. But now, because of the recent geopolitical crisis, crude oil prices are going up, which can change the dynamics for the airline sector. 'On the backdrop of the current geopolitical scenario, crude oil prices have increased approx. 20 per cent since the start of Jun'25 to USD 77/bbl., as on19 Jun'25. This surge in prices may pose a threat to earnings in the seasonally weak Q2 ahead,' the report said. (ANI)
Times of Oman
12 hours ago
- Business
- Times of Oman
Air passengers in India likely to decline in June, after tragic Air India incident: Report
New Delhi: Post recovery of Air passengers in May 2025 after the cessation of India-Pak hostilities, a report by ICICI Securities says the aviation ministry passenger travel data number indicates further decline in June. "As per daily data reported by MoCA, average daily passengers had seen a decline in May'25 following the geopolitical conflict. However, post-declaration of ceasefire, domestic air travel had returned to normalcy. Average daily passengers again declined post the unfortunate Air India accident on 12 Jun'25," the ICICI Securities report noted. According to the report the average daily passengers in April this year was at 490K, however, a decline was witnessed in May 2025 due to India-Pakistan geopolitical conflict. However, Average daily pax returned to 490l before 12 Jun'25 (before Air India incident), post which it has declined to 460k again. On the international travel side, international air travel has experienced a setback since May 2025, weighed down by geopolitical issues like the India-Pakistan conflict. Recently, Air India has reduced its international services on wide-body aircraft by 15 per cent for the next few weeks. The decision comes after the tragic loss of 241 lives on board Air India-171 flight, which crashed in Ahmedabad. "Air India cancelled 83 wide-body operations between 12 and 17 Jun'25. As per daily data reported by MoCA, average daily international passengers have declined from 118k in Apr'25 to 113k in May'25 and 102k in Jun'25," adds the report. However, ICICI securities believes that the weakness in Aviation Turbine Fuel (ATF) price could offset the weakness seen in passenger demand in May/Jun'25. ATF prices have experienced weakness as average ATF prices declined 8.2 per cent on a QoQ basis in Q1FY26 to Rs 86k/KL vs. Rs 94k/KL in Q4FY25. But now, because of the recent geopolitical crisis, crude oil prices are going up, which can change the dynamics for the airline sector. "On the backdrop of the current geopolitical scenario, crude oil prices have increased approx. 20 per cent since the start of Jun'25 to USD 77/bbl., as on19 Jun'25. This surge in prices may pose a threat to earnings in the seasonally weak Q2 ahead," the report said.
Economic Times
2 days ago
- Automotive
- Economic Times
Add Tata Motors, target price Rs 775: ICICI Securities
Agencies Jaguar Land Rover (JLR) revised its FY26 EBIT margin guidance from 10% previously to a range of 5-7% now also lower vs. the 8.5% margin delivered in FY25. In the near to medium term, the company is facing challenges including currency volatility, elevated capex (GBP 3.8bn in FY26 vs GBP 3.2bn in FY25), higher working capital requirement and product transition related costs. In FY26, the company expects its FCF to decline to near-zero, compared to GBP 1.5bn in FY25, with improvement in FY27 and FY28 based on new model ramp up. Investment Rationale (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel ICICI Securities has maintained the Add call on Tata Motors . with an unchanged target price of Rs 775.0. The current market price of Tata Motors Ltd. is Rs 678.85 .Jaguar Land Rover (JLR) revised its FY26 EBIT margin guidance from 10% previously to a range of 5-7% now also lower vs. the 8.5% margin delivered in FY25. In the near to medium term, the company is facing challenges including currency volatility, elevated capex (GBP 3.8bn in FY26 vs GBP 3.2bn in FY25), higher working capital requirement and product transition related costs. In FY26, the company expects its FCF to decline to near-zero, compared to GBP 1.5bn in FY25, with improvement in FY27 and FY28 based on new model ramp Land Rover hosted its Investor Day on 16 Jun?25. The company guided for 5-7% EBIT margin for FY26 (vs.8.5% in FY25). In the US, the company is taking measures including reallocating vehicles to more accessible markets and pricing actions, to help counter the impact from tariffs. We expect near-term performance in JLR to be strained amid US tariff-related uncertainties, and weak demand trends in China. JLR expects its FCF to decline to near-zero in FY26 (compared to GBP 1.5bn in FY25), before improving YoY in FY27 and FY28, as the new models ramp up. For its domestic business, Tata Motors is focusing on regaining growth momentum via new launches and on margin expansion. ICICI Securities maintains ADD with an SoTP-based target price of Rs 775 (unchanged), implying 11x/2x FY27E India/JLR EV/EBITDA. (Disclaimer: Recommendations given in this section or any reports attached herein are authored by an external party. Views expressed are that of the respective authors/entities. These do not represent the views of Economic Times (ET). ET does not guarantee, vouch for, endorse any of its contents and hereby disclaims all warranties, express or implied, relating to the same. Please consult your financial adviser and seek independent advice.
