A senior official in the central labour commissioner's office said the efforts of the government were to resolve the cases amicably and not to press for legal action against employers. "Everyone is going through tough times. We could initiate legal action if we want but that's not the idea. We want to address the issues amicably," the official said.
Chief executive officers of airlines have asked the government to bear 50 per cent of three months' salaries of employees.
According to a calculation by the government, India's airlines currently have 633 aircraft of which they may operate only 200.
Key stimuli of the government's relief package will be a tax break on jet fuel, waiver of parking and landing charges at airports for the next six months and deferment of payment to oil companies by three months.
Airlines sought a limited period concession of the standing rule of slot allocation, which mandates that firms must operate at least 80 per cent of their allocated slots.
Executives of Indian airlines said that the drop is primarily for flights to major metro cities like Delhi, Mumbai, Hyderabad, Bangalore, which are the prime revenue generators on the domestic front.
'What volumes will we have with a Rs 1 lakh product?' 'As a company, we will not restrict it to a segment.'
Assuming the private bank issues 20 billion shares at Rs 10 apiece (with face value of Rs 2 each), the total capital raise will be Rs 20,000 crore. And for the 49 per cent stake, SBI will need to put in about Rs 10,000 crore.
Bank credit growth declined to 8.5 per cent in January from 13.5 per cent in the year-ago period.
Companies also said confidence was yet to return among buyers, with many holding back their decision to buy cars.
Reduction in fuel price was supposed to bring back good luck for Indian airlines. But with the global spread of coronavirus, airlines are being forced to rejig their network, cut flights, and delay launches.
Air India, IndiGo, and SpiceJet have suspended flights to China and Hong Kong.
Amendment to the Act, sovereign guarantees, investment portfolio, realty holdings, and governance issues to shape valuation.
After years of giving free passes to counterparts from Korea, Japan, US in the Indian auto market, Chinese automakers had planned a major push to grab the fifth largest car market in the world. But the shutdown of factories and logistics hubs in the country following the outbreak of coronavirus is slowly constricting the business of Chinese auto majors which have recently entered India.
The number of participating automakers has fallen from 50 in 2018 to 30 this year. The count of exhibitors, including technology companies, has come down from 119 to 112. And showstopper luxury and supercar brands, including Toyota, Jeep, Lamborghini, Porsche, and Volvo will be missing. Similarly, the commercial vehicle makers also gave the show a miss -- a prolonged economic slowdown has dented their fortunes and near chances of any recovery.
The move by four airlines -- IndiGo, Air India, SpiceJet and GoAir -- to suspend the stand-up comedian raises fears that the government can use the no-fly list to settle political scores, undermine the freedom of citizens.
A loss of revenue from liquor sales will have to be compensated through increased landing and parking charges on airlines, which, in turn, will pass on the cost to flyers.
Bankers said they are looking outside the bankruptcy courts and will be able to resolve a few debts in the power sector before January-end.
JSW had moved competition watchdog alleging Asian Paints threatened various dealers from dealing with the company.
Airports levy charges such as FTC, infrastructure charge, and into-plane charges on sale of jet fuel. The levy is passed through to airlines, pushing up costs.
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