The suggestion comes within days of reports that LIC and the Employee Provident Fund Organisation snapped up the entire Rs 7,400-crore (Rs 74-billion) bond issue of the debt-ridden Air India.
In the aviation sector, 100 per cent FDI is allowed under automatic route for MRO (maintenance, repair, overhaul), ground handling, and aircraft purchase.
Maintaining that civil aviation flew thousands of tonnes of equipment and passengers across the country on a daily basis, he said grant of infrastructure status would help the industry in its dealings with the RBI as well as the commercial banks, both in the private and public sectors. On Kingfisher's global plan, Mallya said the airline would launch services to Hong Kong and Singapore as soon as its aircraft were ready.
SpiceJet had rolled out a scheme offering a discount of Rs 200 to every passenger who books a flight with only one handbag and no check-in baggage.
Second deal in 4 months after tie-up with RIL for cargo airlines.
Meanwhile, Minister of State for Civil Aviation Mahesh Sharma said that there was no question of any bail out to the beleaguered carrier
India's fuel consumption slumped by over 66 per cent in the first week of April as a nationwide lockdown halted economic activity and travel, which eviscerated demand. Petrol and diesel demand is down 66 per cent in April, while aviation turbine fuel (ATF) consumption has collapsed by 90 per cent as most airlines have stopped flying, industry officials said.
The airline will induct four more Dreamliners next year to complete order of 27 of these aircraft
This is also the highest ever profit recorded by the carrier, which was facing turbulent times a year ago.
The bench, which wanted the Civil Aviation Ministry to think over the various issues plaguing the national carrier, also said other area of concern was the priority given to private airlines with Air India aircraft being asked to hover around during the peak landing hours causing huge loss of money on fuel.
Jet Airways (India) Ltd hopes to minimise the impact of a sharp rupee depreciation by growing its international network over the next few months.
A debate regarding the security breach at the Bangalore International Airport due to which someone managed to plant a crude bomb on a Kingfisher Airlines aircraft from Bangalore to Thiruvananthapuram is on with the authorities blaming each other for the incident.
Vistara has entered a country that has been sobered down to reality.
According to sources, Vistara was looking at commencing operations on Oct 15 to commemorate J R D Tata's flight from Karachi to Mumbai on the same date in 1932.
UDAN demonstrates that good policy-making can fulfill important public requirements without requiring budgetary support, says MoS for civil aviation Jayant Sinha.
Karnik was mandated to oversee commercial and sales functions of the airline. He took over from Hameed Ali, who joined the airline's board.
Budget airline SpiceJet's net loss widened to Rs 321.51 crore for the quarter ended March 31, 2014.
Airline mum on offer plans, sources say it will be looking to raise around Rs 1,000-1,200 crore
Air India's website, which went down two days ago after the airline offered a special fare of Rs 100, was apparently blocked by a few sites in India and abroad for a considerable time.
In 2011, the Gurgaon-based airline placed an order of 180 narrow-body Airbus aircraft, including 150 fuel efficient A320neo and 30 A320s.
Malvinder Singh's name is thrown up by rumour mills, after Tata, Reliance & Sahara.
In a major clampdown for non-compliance of Listing Agreement, top exchanges BSE and NSE announced suspension of trading in shares of Kingfisher Airlines and another group firm, UB Engineering, from next month.
Following the incident, all flights at Stansted had to be temporarily grounded, according to British media reports.
The average age should be around 35 years, the sources said, adding those older should be shifted to ground operations.
Bharti Airtel, the country's largest mobile operator, has already joined the global Seamless Alliance to provide in-flight connectivity.
In a major cost-cutting exercise, private sector air-carrier Kingfisher Airlines is believed to be considering about 2,000 job cuts and longer working hours for its staff, among various options.
The much-awaited festive season is unlikely to bring any cheers to the travel industry, including the airline sector, as less than 20 per cent of people polled plan to travel during October-November amid the pandemic, a survey said.
Jet's advertising and that of most other airlines has been limited to new routes or promotional fares.
The 62-year-old former Kingfisher Airline boss' defence team, led by Clare Montgomery, opened the day by branding the government of India's evidence presented in the case as "utterly unfounded".
IndiGo maintained its lead position with 49 per cent share of the domestic passenger market in May. SpiceJet's market share increased to 14.8 per cent in May, giving it the number two spot. The market share of Air India, GoAir, AirAsia and Vistara were 13.5 per cent, 11.1 per cent, 6.3 per cent and 4.7 per cent, respectively, in May this year.
CCI's ruling came on a complaint filed by Express Industry Council of India.
Vistara is trying to be leaner and meaner, while staying focused on the original brand promise; it aims to be profitable by FY21. Arindam Majumder reports.
Oil is now in the $135 range. If this price holds for the next 12 months -- as the futures markets tell us -- the added burden will be a staggering $99 billion. Losses in 2008 could reach $6.1 billion. The situation is desperate and potentially more destructive for the industry than our recent crises -- SARS, terrorism and war -- combined.
The decision of the Telecom Commission to approve in-flight connectivity won't just bring cheer to the chat-friendly passengers, but even more to the telecom industry facing severe financial stress, says Nivedita Mookerji.
There is little that Andreas Schmid, the Swiss-born chairman of Flughafen Zurich AG (Zurich Airport International AG), and Yogi Adityanath, chief minister of Uttar Pradesh (UP), could have in common. But Schmid, whose company is building the Noida airport in partnership with the UP government, finds himself on the same footing as the firebrand Hindutva leader who rules the state. Both hope the Rs 30,000-crore ($4 billion) project, hanging fire for 20 years, shows some progress when UP goes to the polls in 2022.
Pawan Ruia has finally done it, a beaming Buddhadeb Bhattacharjee, then West Bengal chief minister, had said at the reopening of the 70-year-old Sahagunj factory owned by Dunlop in 2005. But with the Calcutta high court passing a winding-up order in 2013 and the Trinamool Congress-led state government passing a Bill to take over the company in 2016, the once-upon-a-time undisputed leader in the Indian tyre industry looks vastly undone. But that can hardly be a deterrent for Ruia, who has a penchant for making headlines one way or the other.
Young professionals who lost their jobs tell Rediff.com's Divya Nair how they reclaimed their lives.
"This is the best time that Indian aviation is seeing and the next six months will be critical. The airlines should monetise this growth without getting into unnecessary capacity addition," said Nikhil Vora, managing director, IDFC-SSKI, a financial services group.
Equity infusion of Rs 4,000 crore into Air India, proposed by Finance Minister Pranab Mukherjee in Union Budget 2012-13, will improve the debt-equity ratio of the airline to a level considered comfortable and help open the doors of banks for them.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
