The merged entity will have a combined market share of 6.4 per cent in the non-life insurance industry with 308 branches in the country. The deal is subject to regulatory approvals and the entire process is expected to be completed in nine months.
He said unwarranted rumour-mongering, speculation, and bear hammering of all Reliance Group companies shares over the last few weeks had caused grave damage to all our stakeholders.
Besides lining up Bali, Nairobi and Toronto flights, the airline is also planning flights from Mumbai to Hong Kong. The network expansion will help the national carrier grow its market share and capitalise on the capacity vaccum created by the collapse of Jet Airways.
July 14 features three big-ticket sporting events -- the World Cup final, the Wimbledon men's final and the British Grand Prix.
Tourist arrival growth down to 1.9% over poor marketing and terror threats. Airlines, too, have been forced to reroute following airspace closure. UK and Australia advised their citizens from travelling to Srinagar following the Pulwama attack.
Among the other conditions of the Hinduja group for picking up a stake in Jet is that bankers must take a haircut of 80 per cent and that they should help negotiate with operational creditors like aircraft lessors for moratorium on certain immediate payments.
Starting July 1, passengers will be charged an aviation security fee of Rs 150, as opposed to the current Rs 130 for domestic flights, and $4.85 as compared to the current $3.25 for international flights.
The airport, which will now be built to handle 20 million passengers, will likely start operations by mid-2020. However, rating agency CRISIL in its report in May-end had said operations are expected to start in 2023.
An initial reading of the guidelines indicates two factors - potential rise in borrowing cost and lower returns on investment book - could hit the spread of NBFCs.
While companies continue to face regulatory pressure leading to higher costs, they see an uptick from the launch of differentiated and high-margin products
Vistara appoints Vinod Kannan as chief strategy officer; plans to launch its maiden international flight to Colombo in May
The top executives who have put in their papers with immediate effect include Jet's chief executive officer (CEO) Vinay Dube, chief finance officer (CFO) and deputy CEO Amit Agarwal and company secretary Kuldeep Sharma.
The demand is the highest for the India-Pakistan match at Old Trafford in Manchester on June 16 and also for the final at Lords on July 14.
A mix of financial and strategic mistakes combined with poor expectations of the management are the reasons for the downfall of Indian airlines. For Jet, the deathly potion was even more toxic on account of the bitter squabbles between promoter Naresh Goyal and strategic partner Etihad Airways.
Sources said Unsworth had submitted a one-page letter indicating his interest in Jet but without any accompanying documents.
Debt-ridden Reliance Capital ready to cede control in home finance - Blackstone, Carlyle, Brookfield, and Piramal group are in talks to buy a large stake in Reliance Home Finance.
Indian bankers are fearful that going out of their way to save Jet could lead to subsequent harassment from investigative agencies.
Delta said the airline will operate a Boeing 777-200 LR aircraft with a three-class configuration on the route and will offer passengers wi-fi connectivity and free mobile messaging.
Jet has been operating on international routes since 2004, being the first private airline to do so in decades, after it launched a Chennai-Colombo service in March that year.
Chennai-based Lakshmi Vilas Bank is set to merge with Indiabulls Housing Finance in a share-swap deal, RBI may not be comfortable with a bank owner having realty business under its wings.
© 2025 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances