Indian airlines have also been advised separately to give relief, an official said.
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.
Across Yes Bank branches, the busiest people were the relationship managers, trying to soothe nerves. Many were seen advising clients the situation was only temporary and that their money was safe.
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.
CAIT has attributed its displeasure to the economic downturn, and indifferent attitude of ministers/officials towards domestic trade.
The issue is set to be discussed early next week as the commerce department meets with industry bodies to discuss the widening supply gap for key imports.
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.
Over 50 per cent of all traffic to Jeddah consists pilgrims headed to Mecca and Medina.
While 100 per cent FDI is allowed in single-brand retail, if the foreign investment exceeds 51 per cent, the 30 per cent mandatory local sourcing norm kicks in.
Trump had said a comprehensive trade agreement with India would take much longer to finalise than earlier expected.
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.
While many are getting stranded because of lack of clarity regarding the visa rules following the novel coronavirus outbreak, others are stranded in transit as even OCI cardholders are being turned away
Curtailment of flights between India and China will help Air India and other airlines to boost their seat occupancy and market share.
© 2025 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances