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.
No change in retail prices as oil marketing firms to absorb increase
Airlines and airports are devising their own standard operating procedures, with a limited number of flights being planned to enable social distancing on ground and inside aircraft. The AAI guidelines also state that airport facilities such as smoking rooms, kids play areas, and prayer rooms shall be restricted to a limited number of people, to minimise gathering.
The survivor from Thrissur, who returned from Wuhan -- the epicentre of the pandemic -- recounts her road to recovery and her future plans. Shine Jacob reports
The 'mystery' of the education business sale by Cox & Kings is part of an Enforcement Directorate investigation, which is also examining the siphoning-off of funds to the tune of Rs 21,000 crore to dozens of so-called related-parties, highlighted by the forensic auditor.
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.
American refiners closed some of their production, leading to futures trade benchmarked to the West Texas Intermediate going negative.
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.
The one-time restructuring of loans will help every firm and prevent cost-cutting measures such as lay-offs.
Mumbai, with an estimated population of nearly 20 million, has been testing 1,200-1,400 people per day. Delay in the delivery of rapid antibody test kits has forced the BMC to restrict its testing net.
Though NCLT has extended window to find a buyer, bankers don't see much hope of a deal.
RBI is expecting the rupee to stay close to Rs 75 to a dollar, as COVID-19 forces foreign funds to withdraw from emerging markets.
Such a disruption will take the clock back by many years - in terms of passengers handled - for these airports, thus raising questions among some of the airport operators over a delay in expansion plans.
Though Kishore Biyani is selling stakes in group companies to pay off debt, a significant share price crash since January this year is making his task difficult.
Many firms have asked those joining on April 1 to delay their on-boarding by 2-3 months. The outlook for the airline, tourism, hotel, and media industries is bleak too.
International airlines are offering affected passengers an option of refund, vouchers, discounts on future bookings, and the opportunity to hold tickets for up to two years following travel bans.
Indian companies will have to repay overseas debt worth $7.5 billion in the June quarter.
The issues include not getting refunds on airline and hotel bookings, getting charged a service fee even if airlines have waived cancellation charges and so on. Complaints are piling up on Twitter, Facebook and other social media channels as more and more people cancel their travel plans due to the ongoing Covid-19 pandemic.
Employees asked to work from home... cancelled travel plans... curtailed meetings... Caution and precaution dominate Corporate India's response to Covid-19.
Indian airlines have also been advised separately to give relief, an official said.
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