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.
The Air India Group has started vacating its offices, which are currently being operated from government-owned properties, from this month, as part of its strategy to consolidate workspaces across the country. The loss-making Air India and its international budget arm Air India Express were taken over by the Tata Group on January 27 this year, after successfully winning the bid for the airline on October 8, last year. Besides these two airlines, Tata Group also holds a majority 51 per cent stake in Vistara, its joint venture airline with Singapore Airlines (SIA), and a 83.67 per cent stake in budget carrier, AirAsia India.
Fast-moving consumer goods major Dabur India is set to enter the branded spices and seasoning category. It has signed an agreement to acquire 51 per cent in Badshah Masala for a cash consideration of Rs 587.52 crore. The acquisition, the company says, is in line with its strategic intent to expand its food biz to Rs 500 crore in three years.
A fit-again Jasprit Bumrah was recalled to the Indian team for the T20 World Cup along with fellow pace bowler Harshal Patel, but spin all-rounder Ravindra Jadeja was ruled out of the tournament because of injury.
This doctor couple put their faith in India. And in return India has put faith in them.
India has been placed in Group D along with Iran, Hong Kong and the Maldives for the football\ncompetition at the Doha Asian Games, later this year.
Tata group-owned AirAsia India's inability to get approval for international flights is hurting UDAN, the Indian government's regional air connectivity project that also aims to link cities in Northeast India and Odisha to places abroad. Sources said the civil aviation ministry is waiting for the low-cost airline to come under the full ownership of Tata Sons and become part of Air India, the former state-owned carrier now owned by the private conglomerate, before allowing it to operate international flights. Tata owns 84 per cent stake in AirAsia India and it is understood that the group will complete the process of buying rest of the stake by July's end.
The group, which held its first meeting in London on Monday will focus mainly on the construction of major highways and district-level roads. It will comprise major road building contractors from the UK and India.
Former champions India have been grouped with West Indies, Zimbabwe and Papua New Guinea (PNG) for the preliminary stage of the ICC Under-19 World Cup to be held next year in Australia.
'The cases have not reduced because the prosecution has found some other way to stop people from using their right to free speech.'
Indian intelligence agencies have often claimed that left-wing extremists are trying to make inroads in the militancy-hit regions of north-east to foment further unrest. But Jaideep Saikia, noted terrorism and conflict analyst, claims, "People who speak of Maoism taking roots in the north-east have not read history".
The recent spate of technical glitches in aircraft has prompted the Directorate General of Civil Aviation (DGCA) to issue an order on July 18, making aircraft maintenance engineers (AMEs) with category B1/B2 licences the final authorities in certifying planes. This has put the spotlight on the availability of such personnel. According to the order, airlines were resorting to frequent one-off authorisation by the Category A certifying staff at transit stations, which is not in line with existing regulatory provisions.
Competition Commission has approved Tata Group's proposed acquisition of debt-laden Air India as well as its two subsidiaries. The Rs 18,000 crore-deal that includes the winning bidder Talace taking over Rs 15,300 crore-worth debt, is a major step in the government's efforts over the years to revive the ailing airline. Talace Pvt Ltd, a wholly-owned subsidiary of Tata Sons, emerged as the winning bidder in October.
Dethroned Twenty20 World champions India are placed alongside South Africa and a qualifier team in Group C for the next year's third edition of the tournament to be played in the West Indies. Holders Pakistan are in the Group A, where they will have to ward off the challenges from Bangladesh and Australia to advance in the event starting April 30, according to the 2010 World Twenty20 match schedule announced by the International Cricket Council on Sunday.
Kyle Coetzer played a knock of 41 runs as Scotland defeated Oman by eight wickets in Group B of the ICC Men's T20 World Cup here at the Al Amerat Cricket Ground (Ministry Turf 1) on Thursday.
The government has notified the agreement between Air India and special purpose vehicle AIAHL for the transfer of non-core assets, ahead of the national airline's takeover by the Tata Group. The government had in October last year, inked the share purchase agreement with the Tata Group for the sale of national carrier Air India for Rs 18,000 crore. The Tata Group is expected to take full control of the airline, it founded in 1932, on Thursday. The cash component of the deal would come once the handover process is completed. The Tata Group would pay Rs 2,700 crore cash and take over Rs 15,300 crore of the airline's debt.
Priyanka meets Lara in London... Vidyut gets engaged...Salman enjoys the Turkish sunrise...
"Whether it is in Afghanistan or against India, groups like Lashkar-e-Taiba (LeT) and Jaish-e-Mohammed (JeM) continue to operate with both impunity and encouragement," India's external affairs minister S Jaishankar said
India head coach Rahul Dravid says he and skipper Rohit Sharma are pretty clear about the team for the T20 World Cup in Australia in less than eight months' time.
The government will transfer about Rs 16,000 crore of unpaid fuel bills and other pending dues that Air India owes to suppliers, to a special purpose vehicle before handing over the loss-making airline to the Tata Group, a senior official said. Air India Assets Holding Ltd (AIAHL), which will hold non-core assets of Air India such as land and building, will also be saddled with 75 per cent of the airline's debt that the Tata Group is not taking over. Besides the debt, the excess liability going to AIAHL comprises unpaid fuel bills to oil companies, airport operators and vendors, said Tuhin Kanta Pandey, Secretary to the Department of Investment and Public Asset Management - the department running the privatisation programme of the government.
'It was always anticipated that the return of the Taliban would embolden armed Islamists including anti-India groups like the Lashkar and Jaish.'
'Goodbye dearest Anil. An elegant mind, a stylish writer, and a loyal friend. You will be missed by all those whose lives you touched. RIP.'
'She had a curiosity which she translated into action and was always open to new ideas and suggestions for the betterment of society.' Malti and Mudit Jain remember Indu Jain, the chairperson of the Times of India group, who passed into the ages last week.
Divestment-bound Air India's pilot unions have rejected the paltry five per cent rollback in their salary cuts and warned of "industrial action" if there is no "substantial" reversal in their paycuts. In a joint letter to Air India chairman and managing director Rajiv Bansal on Thursday, the Indian Pilots' Guild (IPG) and the Indian Commercial Pilots Association (ICPA) said, "(The) pittance in the form of a five per cent decrease in the current wage cut is an outright insult, its sting magnified in light of our unwavering support and trust in this company." They said this "generosity" amounts to a reduction of about 3 per cent in the current gross pay cut for pilots. In April, Air India had reduced its pilots' salary by up to 70 per cent to partially offset the impact of the coronavirus pandemic on its finances.
'I was born a lower middle-class person, am one today and will die as one,' Billboard's International Power Player Devraj Sanyal tells Vanita Kohli-Khandekar.
The average number of flights the Air India group, including subsidiaries Alliance Air and Air India Express, operates daily is 674.
Terming investment in infrastructure "quintessential" to boost growth, the Economic Survey on Friday said post unlocking of the economy, infra sectors are poised for growth and construction of roads is expected to return to the high pace attained before COVID-19. The infrastructure sector will be the key to overall economic growth and macroeconomic stability, the Survey said emphasising that the year after the crisis (2021-22) will require sustained and calibrated measures to facilitate the process of economic recovery and enable the economy to get back on its long-term growth trajectory. "Basic infrastructure facilities in the country provide the foundation of growth. In the absence of adequate infrastructure, the economy operates at a suboptimal level and remains distant from its potential and frontier growth trajectory.
Abhishek Mande Bhot recalls his stint at Mumbai Mirror, the iconic Mumbai daily newpaper, which its owners, the Times of India group, decided on Saturday to convert to a weekly newspaper.
'Everywhere Anil Dharker went, he assembled teams of talented people, gave them opportunities, then got out of the way and allowed them to flourish.' Meenakshi Shedde remembers a very special editor.
Sushmita Sen remembers winning Miss Universe in 1994 and her exciting journey over the years.
The collapse of Thomas Cook in the UK has no impact whatsoever in terms of ownership, business, people, technology or processes to us at Thomas Cook India: Madhavan Menon, chairman & managing director, TCIL.
Saturday will be the last time the Mumbai Mirror will hit newsstands as a daily. Two Saturdays ago, its owners, the Times of India group, shocked the city by deciding to convert the Mirror into a weekly newspaper. Jyoti Punwani salutes the Mirror and its editor, Meenal Baghel, for its pathbreaking journalism.
"When the A320 plane, which did not have any passengers as it was heading to Moscow to bring back stranded Indians under Vande Bharat Mission, had reached Uzbekistan's airspace, our team on ground realised that one of the pilots had tested COVID-positive," senior Air India officials said.
Economists caution that the underlying cause could be an alarming drop in demand -- something that's not good for economic growth.
They were the source for entry-level recruitments in the IT industry before the job market crash.
According to Soumya Kanti Ghosh, chief economic advisor of the State Bank of India group, a 50 bps rate cut is a possibility, but 25 bps is more likely.
This was the fourth match to be either called off or abandoned in the rain-hit tournament with many questioning the absence of reserve days for group matches.
Trust today means more than the belief that a brands' products will work as advertised; consumers want to believe that the company truly cares for its customers.
The rates of price rise in many services used by the common man, including hospital and nursing, cook, domestic help and bus (fare), among others, have also touched double digits during the last four years, putting a burden on disposable income.
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