According to the revised plan, promoter Naresh Goyal, his wife Anita Goyal and the directors nominated by the promoter would be asked to step down from the board, and the lenders, as part of the resolution process, will infuse around Rs 1,200 crore into the airline as emergency funding.
Etihad said it would not participate in the rights issue or infuse fresh funds under the current terms and conditions of the resolution plan
With a presence in the value segment, better service quality, and lower ownership cost, Skoda India's director of sales and marketing Zac Hollis aims to make important changes. He tells Arindam Majumder how he plans to make India the company's fifth-largest market by 2023.
Typically, about four to six weeks ahead of the polls, activity in the property market picks up as politicians begin to pull out their money parked in real estate. But this time, it's all quiet till now in real estate so far.
SpiceJet had bet its fortunes heavily on the new version of the 737 of which it has 13 planes in its fleet and another 193 aircraft on order
The airfares are already 15 per cent higher than last season and due to this shortage it will go higher, said Sharat Dhall, COO of Yatra.com.
Approval was held up due to CBI investigation into international flying permit of Tata group-owned AirAsia India.
More than 25 aircraft of Jet Airways has been grounded by lessors due to non-payment of lease rentals. The airline, which started the winter schedule with 103 planes, is now down to 83.
Policy lays out a 5-year road map seeking creation of 3.5 mn jobs and promoting 10,000 start-ups.
For Air India and Jet Airways, airspace closure over Pakistan would mean flights to US and Europe will have to take a longer route.
IndiGo's situation points to a deeper malaise where skill shortage can challenge India's status as the fastest-growing aviation market, say experts.
Additionally, promoter Naresh Goyal and Etihad Airways, which owns a 24 per cent stake in the airline, will infuse around Rs 2,000 crore into the airline, sources aware of the development said.
For now Walmart has said it remains optimistic about India. But that could change without prior notice, says Nivedita Mookerji.
According to a survey by travel portal ixigo, economy airfares from Mumbai have shot up by almost 25- 30 per cent till the end of March.
Lamborghini, which expects 60% growth this year has priced Huracan Evo at Rs 3.73 crore, also said in the next five years India will be one of the top 15 markets for the company.
Trai's regulatory intervention was supposed to stimulate the market, but the latest order seems quite on the contrary, asks Nivedita Mookerji.
The fear of news tailored by private players is a surprise in the internet age. If news websites, run by any entity, can reach out to everyone, why not radio, asks Nivedita Mookerji.
The islands that would be connected through seaplanes are Campbell Bay, Car Nicobar, Havelock, Hutbay, Neil, Long Island and Diglipur, reports Arindam Majumder.
The airline has struggled to pay salaries and vendors on time and its Rs 10,963 crore fund and non fund based facilities have now been assigned 'D' rating by ICRA - the seventh rating downgrade since March 2017.
IndiGo is providing digital solutions to everyday problems, attracting customers to digital platforms and engaging start-ups to find solutions
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