Indian airlines have also been advised separately to give relief, an official said.
Flight occupancy and fresh bookings have dropped over ten per cent in last few days as individuals and corporates defer trips. International travel is already hit due to a series of visa restrictions.
Airlines sought a limited period concession of the standing rule of slot allocation, which mandates that firms must operate at least 80 per cent of their allocated slots.
"We have found that a couple of international airlines are not adhering to the rules. Failure to adhere to rules shall entail strict action," said Director General of Civil Aviation Arun Kumar.
Executives of Indian airlines said that the drop is primarily for flights to major metro cities like Delhi, Mumbai, Hyderabad, Bangalore, which are the prime revenue generators on the domestic front.
Travel restrictions are in place only for a limited number of countries but people are cancelling or postponing travel to prevent the spread of coronavirus.
Reduction in fuel price was supposed to bring back good luck for Indian airlines. But with the global spread of coronavirus, airlines are being forced to rejig their network, cut flights, and delay launches.
In terms of market capitalisation, Zee alone has a market cap of Rs 24,000 crore compared to Rs 15,000 crore of the merged Reliance entity.
Over 50 per cent of all traffic to Jeddah consists pilgrims headed to Mecca and Medina.
Apart from the Adani group, the Tata group, the Hinduja group, Indigo and a New York-based fund, Interups, are expected to submit EoIs.
Based on Statista data for 2019, Vodafone has 17.2 million subscribers in the UK, 29.5 million in Germany, and over 13.7 million in Spain. Without Voda Idea, the Group will become smaller than Airtel and Jio.
Air India, IndiGo, and SpiceJet have suspended flights to China and Hong Kong.
The new flights come against the backdrop of the Indian government's move to boost air connectivity with Central Asia and tap the interest of Russian investors in India.
The Indian market is more in sync with mobile markets of advanced countries like the UK, Japan, and South Korea, where there are fewer players - three to four.
A Russian fund submitted its interest to the resolution professional on February 14 and also hired a consultancy firm to help them with the bidding process.
The new service by American Airlines will provide connectivity to tech hubs in both the countries.
Curtailment of flights between India and China will help Air India and other airlines to boost their seat occupancy and market share.
The companies have offered to pay upfront the principal amount due for licence fees and spectrum usage charges (SUCs) on the basis of adjusted gross revenue (AGR). This amount will not include the interest, the penalty, and the interest on the penalty.
UV Asset Reconstruction Company Ltd has made the highest bid of Rs 16,000 crore to buy Anil Ambani group's Reliance Communications and Reliance Telecom, which are in the National Company Law Tribunal (NCLT). Last year it was the highest bidder for taking over Aircel's assets for an upfront payment of Rs 150 crore. Surajeet Das Gupta and Dev Chatterjee dig deeper to find out more about this little known company.
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