Kaushik Khona's second innings at GoAir will be more challenging than the first. Globally, the aviation industry is in deep distress because of the pandemic, reports Aneesh Phadnis.
Despite a 56 per cent fall in residential launches in the first half of the year compared to the second half of 2019, Anarock Property Consultants believes that consolidation in residential real estate is expected to gain ground, and that branded players may garner a market share of 75-80 per cent.
Retailers want rental waivers should be extended for a few more months, since business is not expected to pick up before the Dussehra-Diwali period, which falls in October-November.
According to the annual report, Ronojoy Dutta's remuneration package includes a gross annual salary of $1.27 million, which would be payable in rupees. Also, he is entitled for a commitment bonus payout. In FY20, he received a remuneration of Rs 11.4 crore in his role as CEO and whole-time director.
Airlines flew 2.1 mn passengers in July, against 1.9 mn in June.
A K Chopra, a retired DGCA official, had flagged concerns regarding engineering, flight safety, operations, and training standards in the airline and subsidiaries, thus warning the management of grave safety risk. He also called for the replacement of the chief of flight safety Harpreet A De Singh, who, he said, did not meet the regulatory requirements for holding the post.
While Air India Express is expected to get the full insured amount for the hull loss, it will have to pay compensation to the kin of the deceased and injured, according to applicable laws. The compensation will be paid from its liability cover.
However, both developers as well as analysts are hopeful that these business metrics will pick up once activity resumes.
While Yatra is building a digital services platform to offer skill development training and sourcing solutions to corporate, Thomas Cook has partnered ICMR-accredited labs to offer Covid-19 certification, and MakeMyTrip is offering chartered flight services.
Those leaving the company include Nikhil Chopra, head of India business, Nikhil Lalwani, who served as head of US business, and Kunal Khanna, head of chronic and emerging therapies.
Airlines operated at much lower capacity of about 27% this July compared to July 2019 level, but there was a marginal rise over the 25% capacity achieved in June 2020.
On a full year basis, the airline made a loss of Rs 934.8 crore. The company has incurred a net loss during the current and previous year and, the its current liabilities exceeded its current assets
Vistara has filed for slots at the Delhi airport and is also training pilots as it prepares for operations. The Delhi-London flight is being planned from mid-August, while services to Paris and Franfkurt would be launched later.
Among other segments, home broadband subscriptions have picked up and the virtual private network service, too, increased by around 15 per cent.
A consortium - comprising Imperial Capital, Flight Simulation Technique Centre, and Big Charter - have placed a bid for Jet, while the other consortium is led by Kalorck Capital.
Mumbai's property markets, where prices earlier crossed Rs 1 lakh per sq. ft in South Mumbai, are seeing a 20-25 per cent markdown from last year's levels.
While there is no concrete proposal as of now, possible options include raising funds through securitisation of ticket levy and reduction in number of subsidised seats on routes with higher demand.
Real estate development on Mumbai airport land and the work on Navi Mumbai airport have been inordinately delayed, which have prompted rating downgrades and raised questions on its financial capabilities. It is also trying to stave off Adani group's entry as a shareholder in the Mumbai airport project.
Brookfield Asset Management will pay around Rs 29,000 per square foot for the 170,000 square feet of space in Jet Airways' two-floor office in Bandra Kurla Complex.
Among the options being weighed are discounts on existing rentals, short-term deferrals, and 50 per cent waivers.
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