However, airlines will need to sell 20 per cent seats below midpoint of the fare band on each flight instead of 40 per cent as mandated earlier.
New proposals like booking of retailers selling loose cigarettes and 7 years of imprisonment, are unacceptable, traders argued.
The growth momentum that started during the festival season is likely to sustain in the new year, reports Arindam Majumder.
For any airline to be eligible for restructuring, the current ratio has to be equal to or higher than 0.4, while 'debt to Ebitda' has to be equal to or less than 5.5.
The Rs 1.5-trillion-a-year industry has ended the year with a 30 per cent fall in sales because after a steady recovery in the festive season, multiple factors dashed its hopes of revival at the end of the year.
The new owner may be allowed to dispose of assets accruing from the 10-26 per cent of the net assets of the company.
Dispute arose as Indian carriers objected to Emirates flying passengers beyond Dubai, and Dubai authorities complained that Indian airlines have been flying more flights than allocated to its carriers.
Zara could rake in Rs 1,571 crore sales in 2019-2020. H&M, which came in five years later, grew its revenue to Rs 1,729 crore.
In June IndiGo had implemented a mandatory leave without pay program for 1.5 days to 5 days. Subsequently, in July, IndiGo announced 5.5 additional days of LWP for its pilots, taking the effective number of LWP to 10 days. As cost cutting measure, the airline had also let go of 10 per cent of its employees and implemented a pay cut across the board.
With supply of mobile chipsets running dry, manufacturers here are left with no option but to hike prices once again, making it the fourth round of increase in 2020.
The government is considering setting up air freight stations to enable direct movement of vaccines from pharmaceutical factories to the aircraft.
While companies have not launched too many products in rural areas of late, easy financing has helped push up demand.
People have said they would be inclined to travel for leisure during the festival and year-end season.
E-learning and work from home have forced a section of feature phones users to shift to smartphones.
Aviation turbine fuel accounts for 35-40 per cent of the total operating cost of an Indian airline.
With its new line-up, the firm has managed to touch the right chords, but to regain market share from the established players, Micromax will have to fight a protracted battle.
Among executives who have been approached are former president and CEO of IndiGo Aditya Ghosh, Wolfgang Prock Schauer, current president and Chief Operating Officer at IndiGo and Sanjay Kumar, Chief Strategy and Revenue Officer of IndiGo.
According to CAIT, the estimated loss to Chinese manufacturers this Diwali could be as high as Rs 40,000 crore.
With consumers staying indoors and e-commerce firms extending their reach to a larger number of pin codes, these giants have snatched a larger share from the offline traders this season.
According to the resolution plan, the airline is planning to start with six to seven aircraft on domestic routes and looking to restart international service within six months of resuming operations.
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