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 started allowing passengers to book an extra seat from Tuesday. IndiGo and SpiceJet, too, are in the final stages of designing such a product to be sold as an add-on.
Analysts said the demand recovery in two-wheeler and car segments was skewed towards the semi-urban and rural markets.
However, despite the surge, the average income of banking correspondents has taken a beating due to the low value of transactions.
Travel bubbles, also called travel bridges or green corridors, do away with the waiting period for travellers from certain countries. They are reciprocal in nature, meaning flyers from both countries will enjoy similar benefits.
Like everything else, the structure of banks may change, and banks may depend more on digital technologies and artificial intelligence for dealing with both their customers and employees.
Industry fears waiver of interest on interest would distort credit culture, may encourage borrowers who can pay to defer repayment.
India took the first step towards legalising drones by officially publishing draft rules for drone operations in the Official Gazette on Friday. The rules, termed The Unmanned Aircraft System Rules, 2020, are open for public consultation for 30 days.
Following suggestion from Minister for Roads Nitin Gadkari, Centre seeks ideas from IRDAI and General Insurance Council on feasibility of providing insurance cover for retrenchment.
Unlike other health insurance policies, which mostly covers hospitalisation expenses alone, the specialised cover is likely to include the cost of treatment during quarantine and payment of cash for incidental expenses.
Mumbai, Bengaluru, and Kochi airports have hiked their landing charges by up to 45 per cent, increasing the operating cost for airlines at a time they are facing financial constraints because of the two months of grounding and weak demand.
For states like West Bengal, Bihar, Odisha, Jharkhand and Uttar Pradesh, where migration is high, the return of workers could be as much an opportunity as a liability. All states have launched portals to register migrant workers; additional fields like nature of employment and remuneration in the past 2-3 years are being added to help in skill mapping.
The move if implemented, will be a temporary measure to protect both consumers and airlines. A section of airline executives and experts, however, warned that any intervention in pricing would be counterproductive.
'States have done a tremendous job of identifying health facilities for COVID-19 care and equipping them well.'
For smaller MFIs, resuming operations is more difficult because they haven't got any fresh bank credit sanctioned from their lenders.
In Sandelerbil village alone in the Hingalgunj block in the Sundarbans, around 36 families from the Scheduled Caste community migrated from Tamil Nadu in March, where they had been working in a gas oven factory. A majority awaits dues promised but not paid. The story is no different in the villages of Manipur, Atapur, and Amtoli under the Sandeshkhali block in the Sundarbans.
'Indian aviation cannot resume without at least three major airports being functional. If Delhi, Mumbai, Bengaluru, and Kolkata are shut, there is little chance that airlines will start flying even if the government gives the go-ahead.'
Companies across the sector are restructuring payrolls of crew, cutting allowances, and extending leave without pay duration as they realise they will have more aircraft and employees compared to customers.
Extended check-in time, frequent disinfection every hour, additional queue managers at entry, exit, boarding point, check-in halls, security check areas and boarding gates, with social distancing markers and reminders - welcome to our airports post-coronavirus.
Aircraft lease rentals are fixed costs and account for around 15 per cent of an airline's expense and since these are paid in dollars are also subject to currency fluctuations.
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