In addition to that, an increasing number of airlines like SpiceJet, national carrier Air India and GoAir are either getting into hedging of aviation turbine fuel or increasing the quantum of ATF hedged on the MCX. Last month, state-run Indian Oil Corporation approached MCX to provide it with a platform to hedge its refinery margins and end products from crude oil.
Move aimed at forcing airlines to revoke decision to withdraw 5 per cent commission.
Inbound travel to the balmy beaches of Goa is expected to drop a significant 60 per cent following large-scale cancellations by charter flights after last week's terror attacks in Mumbai.
Mumbai's unprecedented terror attacks have put airports across the country on a high alert.
The India-Bangkok sector is operated by carriers like Air India, Jet Airways, Thai Air, Cathay Pacific, Singapore Airlines and Malaysian Airlines amongst others and travel companies say it constitutes more than 40 per cent of their business in the south east Asian market. Thousands of protestors have laid siege to Bangkok's Suvarnabhumi airport, the world's 18th largest in terms of passenger traffic, as their latest mark of protest against the elected government.
Full-service carriers Jet Airways, Kingfisher and Air India have told travel agents that they will not levy the transaction fee on air tickets from November 25. This means tickets will be Rs 350 to Rs 10,000 cheaper of bought from the airline office or website. In all, 16 carriers have shifted to the zero-commission mode. The decision of the airlines might leave 1 million people employed with over 2,000 IATA affiliated travel agencies without jobs.
Companies say it helps them save on consultant fees and reduces the recruitment life cycle. Companies pay consultants close to 20 per cent of the annual package of a person provided by them as their fee; incentives paid to the company's employees for bringing a candidate is comparatively paltry. Besides, companies believe the buddy system gets them the right person who is in sync with their culture, which becomes more significant in turbulent times.
The ongoing downturn has forced firms to cut back on advertising expenses. The banking, financial services and insurance segment (BFSI) has cut advertising budgets by nearly 40 per cent.
Recruitment-related HR executives are being moved to other HR functions like training and development and other day-to-day HR functions, or being taken on contract. If things worsen, there could also be layoffs. Companies like Wipro, Infosys, TCS and iGate, too, have a mix of contractual employees in their HR team.
Talks between production houses, cine workers union inconclusive, no fresh content for broadcasters.
Indian political parties could learn a few lessons from the digital media campaigning chapters of the US Presidential elections.
By cutting international flights, Indian firms forefeit market share.
Most travel agents in India have refused to levy the transaction fees of Rs 350-10,000 on air passengers.
The terminal and airside development of as many as nine of the 16 non-metro airports, supposed to be completed by next month, has been delayed till next year. This included construction and expansion of terminal buildings, runways and taxiways, among other things.
TRAI's recommendation to allow news and current affairs on private FM radio, which is awaiting the formal nod of the I&B Ministry by the year end, has not brought much cheer to radio players.
Media-buying and advertising agencies are a worried lot. The last quarter was bad for them with overall advertising, across all media, dipping by 10-20 per cent.
Aviation industry experts expect the ATF prices to fall by 16 per cent in November, compared with the current month. This, they say, translates into bridging of nearly half the gap between the airlines' operational costs and total revenues.
The combine has a fleet of 189 aircraft which includes A-320s, A-330s, Boeing-737s, Boeing-747s and turbo props. Industry experts said this would mean the withdrawal of around 75 flights a day, or around 8 per cent of the combine's daily domestic flights.
Plan for interim international terminal cancelled; land trouble delays domestic terminal.
That is because Mumbai, which has no scope for further expansion, has not allowed any additional aircraft movements this winter schedule allowing only 32 flight movements per peak hour.
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