Ruia, a chartered accountant whose business ranged from sugar to textiles and heavy engineering to tyres, refused to comment on queries about his interest in Air India.
The Army signed a $20-million deal with the Infosys-backed drone maker recently.
However, airlines will need to sell 20 per cent seats below midpoint of the fare band on each flight instead of 40 per cent as mandated earlier.
The growth momentum that started during the festival season is likely to sustain in the new year, reports Arindam Majumder.
For any airline to be eligible for restructuring, the current ratio has to be equal to or higher than 0.4, while 'debt to Ebitda' has to be equal to or less than 5.5.
The new owner may be allowed to dispose of assets accruing from the 10-26 per cent of the net assets of the company.
Dispute arose as Indian carriers objected to Emirates flying passengers beyond Dubai, and Dubai authorities complained that Indian airlines have been flying more flights than allocated to its carriers.
Business Standard tracks pollution levels, goods ferried by the Indian Railways and consumer visits to various categories of places, in addition to power generation and traffic numbers to understand the fast-changing situation on the ground.
In June IndiGo had implemented a mandatory leave without pay program for 1.5 days to 5 days. Subsequently, in July, IndiGo announced 5.5 additional days of LWP for its pilots, taking the effective number of LWP to 10 days. As cost cutting measure, the airline had also let go of 10 per cent of its employees and implemented a pay cut across the board.
The government is considering setting up air freight stations to enable direct movement of vaccines from pharmaceutical factories to the aircraft.
'We have filed our draft red herring prospectus for a floating IPO for a net offer size of 86.6 million shares.'
People have said they would be inclined to travel for leisure during the festival and year-end season.
Aviation turbine fuel accounts for 35-40 per cent of the total operating cost of an Indian airline.
Among executives who have been approached are former president and CEO of IndiGo Aditya Ghosh, Wolfgang Prock Schauer, current president and Chief Operating Officer at IndiGo and Sanjay Kumar, Chief Strategy and Revenue Officer of IndiGo.
According to the resolution plan, the airline is planning to start with six to seven aircraft on domestic routes and looking to restart international service within six months of resuming operations.
The pilot-turned-airline owner and his partner Biraja Jena plan to launch FlyBig, which has secured 16 routes under the fourth phase of UDAN, the government's regional connectivity programme.
Maran had sought attachment of SpiceJet promoter Ajay Singh's shares by an administrator unless the payment was made.
Thomas Isaac has been in and out of the national news in his role as Kerala's finance minister since 2018 for various path-breaking tax initiatives. But it is 2020 that he has become more prominent, principally in the GST council.
The project will be in three stages and sources indicate that the funding will be for the first stage of 107 kilometre from Sarai Kale Khan to SNB Urban Complex.
In the upcoming round of privatisation, unviable airports are likely to be clubbed with six main airports and a prospective bidder may be restricted to bid for two airports.
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