Domestic airlines witnessed 10 per cent rise in sales in 2014.
Private airlines Jet Airways and IndiGo joined the race for low-fares, offering their customers hefty discounts, after Air India rolled out a similar offer to challenge Vistara, the latest full-service entrant in the domestic market.
The April 2 Supreme Court order quashing the February 12, 2018 RBI circular (which ended all debt recast plans even on a one-day default) put paid to the resolution plan as banks were left with no leeway to restructure the loan and pay the promised Rs 1,500 crore interim funds.
Three major domestic airlines on Friday announced revised fares, including those under the advance purchase schemes, following abolition of the Inland Air Travel Tax which amounted to 15 per cent of the total airfare.
The agreement between the two airlines came on the second day of the four-day state visit of Mukherjee to the country.
Indian Airlines and Jet Airways on Friday revised the advance purchase fares in most of the sectors from next month.
Jet Airways (India) Ltd on Friday launched its initial public offering of 1.72 crore (17.2 million) shares of Rs 10 each to raise up to Rs 1942.50 crore (Rs 19.42 billion) from the capital markets.
Private domestic airline Jet Airways on Thursday said it would start issuing electronic tickets from the next year in a bid to cut administrative costs by 50 per cent.
Spicejet receives maximum complaints regarding refunds
The airline's chief financial officer Ravishankar Gopalakrishnan will be acting as the CEO.
Budget carrier IndiGo continued to be the largest player with a market share of 46.9 per cent ferrying 54 lakh passengers in March.
Domestic air traffic rose 20.81 per cent in June on the back of low fares and peak season demand.
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