'Based on the joint statement, a formal agreement will be drafted, which may take a month or month-and-a-half to finalise. We aim to sign the formal agreement by mid-March.'
Nearly three decades after the ambitious project was first conceived to decongest the existing airport in the financial capital, the greenfield Navi Mumbai International Airport became a reality on Thursday as an IndiGo Airbus A320 from Bengaluru landed on the tarmac at 8 am amid a traditional water cannon salute.
The "Sky Factory" will be one of the world's largest for electric vertical take-off and landing (eVTOL), a manufacturing and assembly process to make electric aircraft that can take off, hover, and land vertically. It will put India on the "map of next-generation aviation" and marks one of the most ambitious eVTOL initiatives in the world, said a state government statement.
ICICI Bank, Eternal, Titan, Adani Ports, Tata Consultancy Services and UltraTech Cement were also among the laggards. However, InterGlobe Aviation, Tech Mahindra, Hindustan Unilever and Bajaj Finance were among the gainers.
Citing IndiGo flight disruptions, sources told PTI that the DGCA has decided to withdraw the provision 'no leave shall be substituted for weekly rest' from the FDTL norms.
India's duopoly in the domestic skies -- where IndiGo and Air India collectively control over 90 per cent of the market -- is highly skewed, leaving very little room for new players
Civil Aviation Minister K Rammohan Naidu on Friday said various operational measures, including keeping new flight duty norms in abeyance, will help address the IndiGo flight disruptions, and complete restoration of services is expected in next three days.
IndiGo's CEO, Pieter Elbers, announced that the airline has stabilized operations after recent disruptions, focusing on resilience, root-cause analysis, and rebuilding. The airline had to cancel hundreds of flights due to planning issues linked to new pilot duty rules, crew shortages, winter weather and operational bottlenecks.
This comes after Trinamool Congress chief Mamata Banerjee hinted at foul play behind the plane crash and demanded the Supreme Court's probe into the incident.
Indian equities declined on Friday, with the benchmark Nifty posting its worst weekly fall since September, as foreign investor sentiment remained weak amid tepid earnings growth and little progress on the India-US trade front.
The last rites of Maharashtra Deputy Chief Minister Ajit Pawar, who died in a plane crash, were held with full state honors in Baramati. Prominent leaders and thousands of mourners attended the funeral.
The cost of any flight from Delhi and Mumbai could rise by up to Rs 3,000 soon unless the airport regulator is able to reverse a court order.
The Indira Gandhi International Airport in the national capital is the country's busiest airport and RWY refers to runway.
Long queues, passengers in tears, and repeated flight cancellations created a morning of severe disruption at Ahmedabad's Sardar Vallabhbhai Patel International Airport on Saturday, as IndiGo continued to face nationwide operational delays.
Pilots' body Airlines' Pilots Association (ALPA) India on Friday took 'strong' objection to safety regulator Directorate General of Civil Aviation (DGCA)'s 'selective and unsafe' relief to domestic carrier IndiGo, amid widescale cancellations, saying the decision sets a dangerous precedent.
The flights have been cut across sectors, particularly on high-demand, high-frequency routes, according to a DGCA statement.
Tensions began soon after Indian authorities proposed flying the American black-box experts to a remote military facility, even as US officials intervened, citing safety and security risks.
From the 30-Sensex firms, Trent, Larsen & Toubro, Reliance Industries, InterGlobe Aviation, Maruti, ITC, Adani Ports and Bharat Electronics were among the biggest laggards. In contrast, Eternal, ICICI Bank, Tech Mahindra, State Bank of India and Tata Consultancy Services were among the gainers.
A Buddha Air flight number 901 from Kathmandu to Bhadrapur skidded off the runway while landing at Bhadrapur Airport in Nepal's Jhapa district late Friday night.
Trading pattern in the stock market this week will largely depend on the ongoing Q3 earnings announcement from corporates, global trends, and foreign fund movement, analysts said. Moreover, geopolitical developments and any update on trade negotiations would also be keenly tracked by investors, experts noted.
Fair trade watchdog Competition Commission of India (CCI) is examining whether the country's largest airline, IndiGo, violated competition norms, a senior official said on Friday amid the carrier facing regulatory scrutiny over significant flight disruptions.
The country's largest airline IndiGo, which faced massive operational disruptions earlier this month, saw its domestic market share slide to 63.6 per cent in November, according to official data. Air India Group, comprising Air India and Air India Express, and SpiceJet had their respective market shares in November rise to 26.7 per cent and 3.7 per cent, respectively.
Passengers complained of last-minute alerts, lack of communication and long queues as flight operations continued to be hit nationwide.
The civil aviation ministry is monitoring the impact of volcanic ash plumes from Ethiopia on flight operations, leading to cancellations and delays. The situation is being closely monitored, and necessary precautions are being taken.
Aviation Minister K Rammohan Naidu said the government has initiated an inquiry into Indigo's mass flight cancellations and will take strict action against the operator to set an example for other airlines.
Domestic carrier IndiGo has cancelled over 180 flights from three major airports on Thursday, as the Gurugram-based airline struggles to secure the required crew to operate its flights in the wake of new flight-duty and rest-period norms for pilots.
Pakistan has extended its airspace ban for Indian aircraft until January 23, 2026, continuing restrictions imposed after the Pahalgam attack. India has reciprocated with a similar ban.
Reliance Industries cracked 4.42 per cent, while ITC, Kotak Mahindra Bank, InterGlobe Aviation, and HDFC Bank were also among the laggards. However, ICICI Bank, Sun Pharma, Hindustan Unilever, and State Bank of India were among the gainers.
IndiGo cancelled over 1,000 flights on Friday and said operations are expected to normalise in the next 10 days, as the country's largest airline received flight duty norms relaxation from watchdog Directorate General of Civil Aviation (DGCA), which will probe the disruptions that have impacted thousands of passengers for four straight days.
DGCA provided temporary relief to IndiGo, which is partially owned by Rahul Bhatia, by rolling back the night duty definition to 12 am-5 am from 12 am-6 am earlier, and allowing its pilots to do six night-landings from two earlier, besides other relaxations.
'The real story of 2025 is that India officially stopped being a 'market of the future' and started acting as the world's primary economic engine.'
The Union Budget for 2026-27, presented by Finance Minister (FM) Nirmala Sitharaman on Sunday, which was a first, had an excellent domestic macro backdrop. According to the first advance estimates, gross domestic product (GDP) in constant prices is projected to grow 7.4 per cent in the current financial year, against 6.5 per cent in 2024-25.
With IndiGo cancelling over 1,000 flights on Friday owing to crew shortage as the second phase of the pilots flight duty and rest period norms kicked in, huge capacity was out of the market, leading to airfares tripling and quadrupling from over the normal range, a travel industry executive said.
Worries about global politics and trade are pulling the Nifty 50 down. Experts say the market could drop further low.
The Airports Authority of India (AAI) on Monday issued a travel advisory as dense fog gripped Northern India, urging passengers to check their flight status before leaving for the airport to avoid prolonged waiting periods at the airport in case of flight cancellations or delays.
Ash clouds from the recent eruption of the HayliGubbi volcano in Ethiopia are impacting flight operations, and there are reports suggesting that clouds might also be drifting towards the western parts of India.
According to sources, the crisis-ridden airline cancelled 137 flights at Delhi airport and 21 services at Mumbai airport.
'IndiGo is fooling the country and the government has succumbed to it.'
Gandhi said it is ordinary Indians who pay the price in delays, cancellations and helplessness.
Aviation watchdog DGCA stations personnel at IndiGo's headquarters to monitor flight cancellations, crew deployment, and operational disruptions after thousands of flights were cancelled, causing passenger inconvenience.
