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.
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.
The V-shaped rebound has been aided by a gush of liquidity flooding the global financial system, thanks to balance sheet expansion.
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.
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.
Other measures being considered include relatively stringent KYC norms and a separate standard operating procedure for approval, renewal, and fresh investment from India's neighbouring countries.
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.
With RIL's market capitalisation crossing the Rs 11-trillion mark on Friday, Ambani is ahead of Google co-founders Larry Page and Sergey Brin, the 10th and 11th richest, respectively, and behind Zara founder Amancio Ortega on the Forbes Real-time Billionaires List.
The mid-cap universe - comprising firms that rank 101-250 in terms of m-cap - could see as many as 17 new stocks move out. Similarly, over half a dozen stocks could exit the large-cap universe, which is defined as the top 100 entities in terms of m-cap.
With 262 planes, IndiGo operated over 1,500 daily flights prior to March 24 but is now operating around 350 scheduled flights a day, which is putting a pressure on its finances.
Market experts said disruptions caused by the pandemic - to businesses as well as the filing process - and the sharp decline in valuations were the reasons behind fewer new companies wanting to tap the capital markets.
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