Currently, airlines are required to pay compensation of Rs 5,000-10,000 to a passenger, in addition to a ticket refund in case of flight cancellation. Soon, all that may change. However, compensation is payable if the airline does not give advance intimation to a passenger, which is at least 24 hours before departure.
A corporate lawyer said that this is the biggest failure of corporate governance in this country. He pointed out that American investors can even take the bank to court for giving false statements to stock exchanges and even file class action suits. Some even questioned how RBI overlooked Kochhar's misdeed.
The airline has proposed to raise authorised share capital to Rs 2,200 crore. This would comprise Rs 680 crore of equity capital and Rs 1,520 crore of preference share capital.
These measures are part of initiatives by these nations to attract Indian tourists, says Aneesh Phadnis.
The airline will be inducting large number of A321s this year which will be largely used on international routes and high density domestic routes.
Milk booths by Amul and Mother Dairy, a Kumbh phone by Reliance Jio, Dabur's toothpaste dispensers are among the many initiatives by brands steadying for a stint on haloed ground.
While Jet founder Naresh Goyal said he was willing to infuse Rs 700 crore and also pledge all his shares in the company provided he can have at least 25 per cent stake, the airline's foreign partner Etihad Airways insists he must not keep more than a 22 per cent stake.
Under the resolution plan, the lenders would end up having a sizable portion of shares in the airline, if their boards of directors agree to convert part of their debt into equity.
The government was planning to come up with a new fiscal model giving 'special incentives' for fields that were given out on nomination to ONGC and Oil India, reports Shine Jacob.
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.
What is worrying is that this year, angel investments and seed funding deals have fallen by 40 per cent, ringing alarm bells in the start-up community in India.
Fares to key routes such as Delhi, Bengaluru, and Hyderabad may shoot up 80 per cent
Dina Wadia, Jinnah's only daughter and Nusli Wadia's late mother, moved the high court in 2007 to regain control of the estate.
Over the past several months, the airline has struggled to pay vendors and staff salaries on time.
The Centre is likely to cut budgetary support to the railways by around Rs 5,000-10,000 crore for 2018-19, out of the total budgeted GBS of Rs 53,060 crore. Due to this cut in GBS, the railways is likely to depend more on borrowings, asset monetisation, and internal generation to meet the capex target of Rs 1.465 trillion for the current year.
Jet has come under regulatory scrutiny twice this year.
CARE Ratings, in a report, said it foresees an increase in the retail prices of petrol and diesel in the coming few days, depending on how the oil markets react in the reduction in supply from the cartel.
The airport sees 950-960 aircraft movements daily, and Saturday saw an additional 37 flights to Udaipur as celebrities, filmstars and politicians made a dash to the city for pre-wedding celebrations.
However, the reduction in ATF prices will provide some cushion to airlines engaged in a protracted price war have lost control over pricing in one the world's most price sensitive domestic markets.
The airline has closed reservation for flights to Silchar, Imphal, Aizawl, Jorhat in northeastern states from mid-February. Reservation has also been closed for flights to Madurai, Visakhapatnam, Raipur, Muscat and Sharjah.
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