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.
'What volumes will we have with a Rs 1 lakh product?' 'As a company, we will not restrict it to a segment.'
Companies also said confidence was yet to return among buyers, with many holding back their decision to buy cars.
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.
Air India, IndiGo, and SpiceJet have suspended flights to China and Hong Kong.
After years of giving free passes to counterparts from Korea, Japan, US in the Indian auto market, Chinese automakers had planned a major push to grab the fifth largest car market in the world. But the shutdown of factories and logistics hubs in the country following the outbreak of coronavirus is slowly constricting the business of Chinese auto majors which have recently entered India.
The number of participating automakers has fallen from 50 in 2018 to 30 this year. The count of exhibitors, including technology companies, has come down from 119 to 112. And showstopper luxury and supercar brands, including Toyota, Jeep, Lamborghini, Porsche, and Volvo will be missing. Similarly, the commercial vehicle makers also gave the show a miss -- a prolonged economic slowdown has dented their fortunes and near chances of any recovery.
The move by four airlines -- IndiGo, Air India, SpiceJet and GoAir -- to suspend the stand-up comedian raises fears that the government can use the no-fly list to settle political scores, undermine the freedom of citizens.
Kerala, Punjab and Rajasthan are the other three states to pass a resolution opposing the contentious legislation, reports Archis Mohan.
Sources said much has been done to ease the tax burden of the middle classes in the last five years, and that such a measure affects only a limited segment of people when the focus should be to put money in rural areas. Archis Mohan reports.
A loss of revenue from liquor sales will have to be compensated through increased landing and parking charges on airlines, which, in turn, will pass on the cost to flyers.
JSW had moved competition watchdog alleging Asian Paints threatened various dealers from dealing with the company.
Airports levy charges such as FTC, infrastructure charge, and into-plane charges on sale of jet fuel. The levy is passed through to airlines, pushing up costs.
Hero MotoCorp, Honda Motorcycles, Scooters India, TVS, Honda India, Toyota Kirloskar Motor, Ford, Nissan, Ashok Leyland are all giving the Auto Expo a miss this time.
In 2009, the UPA government, had announced a slew of measures to boost liquidity in NBFCs. These included a scheme for providing liquidity support to NBFCs having assets size of over Rs 100 crore through a SPV.
About 1.2 crore passengers flew in November compared to 1.1 crore in October. While the industry opinion is divided over the sustainability of unprofitable growth, which is primarily led by low fare, some described it as the resilience of air travel against the economic slump.
States are planning to pass resolutions in their legislative assemblies; however, such tactics will be used as the last resort if the Centre continues to stall allocations.
Opposition parties, though resigned to the fact that they lack the numbers to defeat or stall the bill in the two Houses, have decided upon different tactics that they would employ to highlight their reasons for opposing it.
Unsure about having the numbers in the Rajya Sabha, the Congress, the Trinamool Congress and other parties have decided they will create awareness about the "divisive" nature of the proposed legislation, reports Archis Mohan.
Primary steel producers in the domestic market have raised product prices by 2.5 to 3 per cent for December to address margin compression and in anticipation of a demand pick-up.
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