Flight occupancy and fresh bookings have dropped over ten per cent in last few days as individuals and corporates defer trips. International travel is already hit due to a series of visa restrictions.
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.
"We have found that a couple of international airlines are not adhering to the rules. Failure to adhere to rules shall entail strict action," said Director General of Civil Aviation Arun Kumar.
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.
Travel restrictions are in place only for a limited number of countries but people are cancelling or postponing travel to prevent the spread of coronavirus.
Market players said NBFCs and HNIs are recalibrating their plans based on the changing dynamics.
Both indices are down nearly 9 per cent from their all-time highs in mid-January. A sharp reversal seems difficult this time as the peak impact of the virus is yet to play out.
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.
The answer to that depends on whether the globe is able to contain the virus spread, says Samie Modak.
Over 50 per cent of all traffic to Jeddah consists pilgrims headed to Mecca and Medina.
Naved Masood, former secretary in the Ministry of Corporate Affairs and Sebi board member; TV Mohandas Pai, chairman of Manipal Global Education and Dinesh Kanabar, CEO, Dhruva Advisors have ceded their position on the NSE board following end of their tenure.
At issue size of Rs 10,355 cr, the offering will be Asia's biggest this year and fifth-largest domestically.
Apart from the Adani group, the Tata group, the Hinduja group, Indigo and a New York-based fund, Interups, are expected to submit EoIs.
Air India, IndiGo, and SpiceJet have suspended flights to China and Hong Kong.
The new flights come against the backdrop of the Indian government's move to boost air connectivity with Central Asia and tap the interest of Russian investors in India.
A Russian fund submitted its interest to the resolution professional on February 14 and also hired a consultancy firm to help them with the bidding process.
The new service by American Airlines will provide connectivity to tech hubs in both the countries.
Curtailment of flights between India and China will help Air India and other airlines to boost their seat occupancy and market share.
Amendment to the Act, sovereign guarantees, investment portfolio, realty holdings, and governance issues to shape valuation.
In the past 10 trading sessions, shares of the state-owned company have shot up more than 50 per cent.
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