While Air India Express is expected to get the full insured amount for the hull loss, it will have to pay compensation to the kin of the deceased and injured, according to applicable laws. The compensation will be paid from its liability cover.
Before the pandemic hit the world and led to shutdowns, the company had received nearly half a dozen offers. But bidders are now withdrawing. They want to reassess the situation. They want to conserve cash and avoid acquisition.
Several airlines, hotels, travel and tourism companies are expected to move their applications for one-time restructuring as soon as the moratorium ends.
While Yatra is building a digital services platform to offer skill development training and sourcing solutions to corporate, Thomas Cook has partnered ICMR-accredited labs to offer Covid-19 certification, and MakeMyTrip is offering chartered flight services.
There is immense pressure on Biyani to go ahead with the RIL offer after FRL defaulted on its interest payments of Rs 100 crore on July 22.
Those leaving the company include Nikhil Chopra, head of India business, Nikhil Lalwani, who served as head of US business, and Kunal Khanna, head of chronic and emerging therapies.
Airlines operated at much lower capacity of about 27% this July compared to July 2019 level, but there was a marginal rise over the 25% capacity achieved in June 2020.
Many weekly indicators turn positive as economy prepares for Unlock 3.0.
The Indian Railways is replacing its outdated signalling system with the latest automated train protection technologies - European Train Control System and Train Collision Avoidance System.
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
Oil marketing companies IOC, BPCL and HPCL have invited expressions of interest from start-ups that wish to be enrolled as fuel entrepreneurs for doorstep delivery of high-speed diesel through mobile petrol pumps.
Vistara has filed for slots at the Delhi airport and is also training pilots as it prepares for operations. The Delhi-London flight is being planned from mid-August, while services to Paris and Franfkurt would be launched later.
Mumbai traffic, mobile internet speeds, and grocery and pharmacy visits are all showing lower numbers for the latest week.
Among other segments, home broadband subscriptions have picked up and the virtual private network service, too, increased by around 15 per cent.
Reliance Industries, which sold stake worth $21.7 billion in Jio Platforms, kept the league tables moving in spite of the pandemic.
'These are the people that have worked for you. These are the people who have served you all their careers. You send them out to live in the rain. Is that your definition of ethics when you treat your labour force that way?' the titan asks.
A consortium - comprising Imperial Capital, Flight Simulation Technique Centre, and Big Charter - have placed a bid for Jet, while the other consortium is led by Kalorck Capital.
Bankers say debt resolution bills are coming high as resolution professionals are giving the human resources and audit/legal consulting to outside firms to plug all the loopholes.
Iran's growing proximity to China may have also played a part.
Under the plan, there will be 151 private trains covering 109 routes which may entail investments worth Rs 30,000 crore.
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