AirAsia India, which started operations on June 12 2014, had a market share of 6.2 per cent of the domestic traffic in April.
With its nominees on the board, Tata Sons will have the controlling stake of 51%.
The aviation regulator slapped fines amounting to Rs 2.75 crore on Indian airlines in 2023, marking a 39 per cent rise in financial penalties from Rs 1.97 crore in 2022. The Directorate General of Civil Aviation (DGCA) said it imposed fines on domestic carriers such as Air India, IndiGo, AirAsia India and SpiceJet for issues related to non-compliance in 2023. The regulator also carried out a record number of 5,745 surveillance activities in the year to ensure compliance by airlines, aerodrome operators, and aviation personnel among others.
AirAsia India began operations in June 2014.
Air India Express on Thursday cancelled 85 flights or around 23 per cent of the total daily capacity as the disruptions due to the cabin crew shortage continue and said Air India will operate services on 20 of its routes to minimise inconvenience to passengers.
The current offer is available for these proposed flights as well, the release said.
Both parties will discuss the issues and there will be a meeting again on May 28, he said.
Discontent has been brewing among a section of the cabin crew at the low-cost carrier for some time now, especially after the start of the process of merger of AIX Connect, formerly AirAsia India, with itself.
Domestic air traffic rose 4.8 per cent on an annual basis to 126.48 lakh in February, while more than 1.55 lakh passengers were affected by flight delays during the same period, according to official data released on Friday. In February, Air India's market share rose to 12.8 per cent from 12.2 per cent while that of IndiGo marginally dipped to 60.1 per cent from 60.2 per cent in January. The domestic air traffic climbed to 126.48 lakh in February compared to 120.69 lakh in the year-ago period, the Directorate General of Civil Aviation (DGCA) said.
AirAsia India, whose top officials have promised to offer low and competitive airfares, would have Chennai as its hub and would focus on connecting Tier-II cities to begin with.
AirAsia India launched service in June and has two Airbus A320 planes.
Most airlines have fattened their profits, turned the corner, or cut their losses, except AirAsia India.
Indian airlines will operate a total of 23,732 flights every week during the winter schedule, which is more than 8 per cent higher than the year-ago period, amid rising air traffic demand. The winter schedule 2023 -- effective from October 29 to March 30 next year -- for the scheduled carriers has been approved by aviation regulator DGCA. Go First, which stopped flying from May 3 and is undergoing an insolvency resolution process, will not be having any operations during the winter schedule.
AirAsia India was set up as a three-way joint venture.
Ticket sales to open from Friday, says group CEO Tony Fernandes
'Sweden removed the inheritance tax because many of the rich were fleeing. For example, the owner of IKEA had migrated out of Sweden'
India's share of total global venture capital (VC) funding fell to 2.9 per cent in calendar year 2023 (CY23) - the lowest since CY19 - reaching $7.3 billion as most startups struggled to raise money without compromising on their earlier valuations. Based on global data by CB Insights on VC funding, funding to Indian startups fell by nearly a third compared to CY22 when it hit $20.6 billion and accounted for 4.8 per cent of the global figure. While the data shows that the world had 71 new unicorns (21 in Asia), India contributed only two of them, as compared with CY22 when it had 22.
The reported buyback of Temasek's 20 per cent stake in Tata Play by Tata Sons will be the third instance of Tata Group providing an exit to a foreign partner in recent years. In 2018, Tata Sons paid $1.27 billion to DoCoMo to buy back 26 per cent of the group's telecommunication venture, Tata Teleservices. This was followed by Tata Sons acquiring AirAsia Berhad's 49 per cent stake in AirAsia India in two tranches to make it a wholly owned subsidiary.
Unlikely to happen in less than a year,despite the advantage of the parent airline's base.
AirAsia India on Monday moved closer to getting off the ground by appointing S Ramadorai as its Chairman, ending months-long suspense and having in place the entire top management team.
AirAsia may breakeven by June this year.
Inching closer to launch its operations, new no-frill carrier AirAsia India on Saturday took delivery of its first Airbus A-320 as it landed in Chennai after flying in from Toulouse headquarters of the European aircraft manufacturer.
DGCA asks those likely to be affected by a scheduled air operator's permit to the airline to give suggestions, objections within 30 days.
Tony Fernandes had blamed Indian domestic carriers for preventing AirAsia's India launch earlier, too, but this was the first time he named an airline.
A bench of Chief Justice G Rohini and Justice Rajiv Sahai Endlaw posted the matter for hearing on Friday.
No-frills carrier AirAsia India on Monday offered rock-bottom fares, starting at as low as Rs 1,299 for domestic flights, as part of the parent AirAsia's global sale offer for a limited period.
The Israel-Hamas conflict is expected to impact the trade of gems and jewellery between India and Israel, exporters said on Monday. Colin Shah, MD, Kama Jewelry, said the war can "adversely" impact Indian exports to Israel. Total gems and jewellery trade between India and Israel stood at $2.04 billion in 2022-23 as against $2.8 billion in 2021-22.
The newly formed AirAsia India, the Indian arm of Malaysia's low cost carrier AirAsia, has filed an application with the Civil Aviation Ministry seeking permission to launch its operations, official sources said on Thursday.
This is the third enforcement action against a Tata Group airline in over a month.
The losses are primarily because the venture operated only for 18 days in June, with only two flights.
Researchers found that India, along with China and Japan, were the three leading countries in Asia in terms of number of new cases and deaths, where they say cancer has become a more significant public health threat with 94 lakh new cases and 56 lakh deaths in 2019.
The airline opened bookings on Friday night for its inaugural routes -- Bengaluru-Goa and Bengaluru-Chennai.
India's domestic air passenger traffic nearly doubled to 1.25 crore in January compared to 64.08 lakh recorded in the year-ago period, according to official data released on Monday. In January, IndiGo saw its domestic market share decline for the fifth consecutive month at 54.6 per cent. It carried 68.47 lakh passengers last month.
Ending its uncomfortable journey in India after eight years, Malaysia-based AirAsia Group on Wednesday said it has exited AirAsia India by selling its remaining 16.67 per cent stake to Tata Group-owned Air India for Rs 155.64 crore. Later in the day, Air India said it has begun the process of creating a single low-cost carrier subsidiary by merging AirAsia India and Air India Express. A working group consisting AirAsia India CEO Sunil Bhaskaran and Air India Express CEO Aloke Singh has been formed for the two carriers' integration, which is expected to take approximately 12 months, it added.
Domestic airlines flew 1.29 crore passengers in April, a rise of more than 22 per cent compared to the year-ago period, according to official data released on Friday. However, the domestic air traffic number last month at 128.88 lakh was marginally lower than the 128.93 lakh recorded in March. In April 2022, the number of passengers carried by airlines stood at 105.47 lakh.
AirAsia India, whose top officials have promised to offer low and competitive airfares, will focus on connecting tier-II cities to begin with.
Malaysian budget airline AirAsia moved a step closer to securing permission to launch operations in India, with Civil Aviation Minister Ajit Singh on Monday saying that all issues concerning the carrier's application have been resolved.
On July 25 and 26, the regulator's team carried out the surveillance of Air India in the areas of internal audit, accident prevention work and availability of required technical manpower.
The possible change in the airline's earlier decision is apparently due to various factors, the key being its relationship with the state government. Other states are a lot more interested and excited in having it.
The carrier planned to bring in a plane a month from March to build a fleet of at least 10 jets by the end of the year.
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