Tata Sons and Singapore Airlines invested Rs 9,558 crore in loss-making Air India in 2024-25, with the promoters pumping in Rs 4,306 crore alone in March this year.
On Wednesday, Surat airport remained operational for an extra one hour waiting for the landing of an Air India Express flight that took off more than an hour late from the national capital.
The trails of mega-mergers, tailwinds of expanding fleets, flights and airports will dot the fast-growing Indian aviation firmament in 2025, though the dark clouds of supply chain woes will persist longer. Also, new airline takeoffs, the future trajectory of revised norms to tackle pilot fatigue and efforts to reduce carbon emissions will be on the radar.
The airline industry is projected to register a net profit of $25.7 billion in 2024 as more normal growth is expected in both passenger and cargo segments, global grouping IATA said on Wednesday. For 2023, the net profit is estimated at $23.3 billion, significantly higher than the $9.8 billion projected by the International Air Transport Association (IATA) in June this year. IATA has more than 300 airlines as members.
Full service carrier Vistara expects to add a total of 10 planes as well as hire more than 1,000 people in the current financial year and has shelved plans to fly to the US, according to a top executive. Currently, Vistara, which is set to be merged with Air India, has a fleet of 61 aircraft and a staff strength of over 5,200. During an interaction in Istanbul this week, Vistara CEO Vinod Kannan said there has been a ready pool of talent, especially pilots and cabin crew members, with the collapse of Go First.
Fuelled by rising passenger traffic and reviving local economies, the global airline industry is projected to record a net profit of $9.8 billion this year, IATA Director General Willie Walsh said on Monday and also made a strong pitch for having global standards for a Sustainable Aviation Fuel (SAF) book and claim system to help reduce carbon emissions. While addressing the Annual General Meeting of the International Air Transport Association (IATA) here, Walsh also flagged concerns about supply chain issues that are raising costs as well as limiting the ability of airlines to deploy aircraft. He also pointed out that decarbonising aviation is a serious issue and governments must not be allowed to use it to shore up exchequer finances.
A cabin crew member of the flight had filed a complaint with the DGCA about the pilot allowing a female friend into the cockpit.
Amid the bitter tussle with the Left Democratic Front-led government, Kerala Governor Arif Mohammed Khan on Tuesday said he will not interfere in the business of the government unless there was a total collapse of the constitutional machinery and "fortunately" that was not the case in Kerala.
The sources said that an ATC posted at the Indira Gandhi International Airport in New Delhi was subjected to the drug test.
Scores of chartered accountants, company secretaries and cost accountants are currently under the regulatory scanner for alleged violations of the companies law with respect to setting up of certain Chinese companies and their subsidiaries in India, according to officials. The apex bodies of chartered accountants and company secretaries, ICAI and ICSI, have together received around 400 complaints on the issue and necessary actions have been initiated. The Institute of Cost Accountants of India has also initiated action against some of their members in the matter.
Seeking to further democratise air travel with dependable and affordable services, airline Akasa Air is aiming to start flights in late May or early June after getting its first Boeing 737 MAX aircraft in April. Bullish on the long term growth potential of the country's civil aviation sector, ace investor Rakesh Jhunjhunwala-backed carrier is looking to have 18 planes in its fleet by the end of March 2023. Despite COVID clouds continuing to cast a shadow on the airlines, Akasa Air CEO Vinay Dube is more than optimistic as he asserted that "if you look at the long term future of commercial aviation in India, it is as exciting as anywhere in the world".
He also said that the focus will be on developing infrastructure in a big way and bring the state out of the debt trap if the BJP wins the assembly polls that are likely to be held in April-May this year.
Currently, Vistara has more than 22 planes and operates around 850 flights every week.
The exercise of striking off dormant companies and disqualifying directors is in furtherance of ease of doing business and will be good for genuine corporate
The disappointment of the year is government's failure in finalising the re-drafted aviation policy.
India Inc had few tough issues to deal with in 2014.
The total worth of counterfeit and pirated products is likely to be $1.22-1.77 trillion in 2015, much higher than the 2008 estimate of just $455-650 billion, according to the study by Business Action to Stop Counterfeiting and Piracy.
LG Electronics is planning to introduce new products and also make India a "pilot market" for its home appliances business.
LG Electronics will also spend Rs 50 crore (Rs 500 million) on advertising and marketing activities to spread awareness on health care among the public this year.
From a technocrat turned fraudster Ramalinga Raju's confession to the snub-nosed Nano, 2009 offered some forgettable and many memorable moments in business.
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