In aviation parlance, an 'interline arrangement' is a deal under which the same ticket covers different legs of the journey flown by different airlines.
Crisis-hit SpiceJet may get the first round of its much-needed fund infusion in the next two days, while more may come in a month's time as part of an estimated $200 million investment plan, sources said on Thursday.
No-frills carrier SpiceJet is in active discussions with Singapore-based budget carrier Tigerair for a possible stake sale even as they are set to sign a code share agreement soon, sources said.
The sources indicated that the AAI, which had given time to SpiceJet till Monday to clear its dues, would not press the deadline and give the airline more time to pay up.
SpiceJet slumped slumped almost 14 per cent amid reports that the Airports Authority of India (AAI) has decided to withdraw credit facility to the low-cost carrier.
Jeff Bezos of Amazon tops the list for the second consecutive year with networth of $147 billion.
The difficult period created by some "legacy issues" are over.
SpiceJet strts trimming workforce.
Cash-strapped SpiceJet has cancelled over 1,800 flights across the country for the current month, in signs of mounting troubles for the budget airline.
SpiceJet has cut capacity by reducing its fleet to 35 Boeing 737 aircraft from 42 in December.
SpiceJet promoter Kalanithi Maran would need to invest at least Rs 1,500 crore (Rs 15 billion) almost immediately to stabilise the airline.
The analysis covers BSE 200 Index's 171 companies for which data on the compensation to the boards of directors for FY14 and FY13 are available.
In India, many players are in the throes of chaos and pain but at least one partnership -- Air Asia India -- that was fraying even before the pandemic now finds itself at breaking point, says Anjuli Bhargava.
In a fresh trouble for the budget carrier SpiceJet, aircraft lessors have approached the aviation regulator DGCA, seeking its permission to repossess 11 Boeing planes of the airline, even as its revival plan is under review of the Civil Aviation Ministry.
Meanwhile, Minister of State for Civil Aviation Mahesh Sharma said that there was no question of any bail out to the beleaguered carrier
Despite the gains from Jet's closure, in 2018 and 2019, the airline continued to make losses in many quarters for a variety of reasons, including some mistakes like taking on Jet's aircraft, which were not in great shape and had business class configuration, a gamble that did not work for SpiceJet.
No-frills carrier SpiceJet is in active discussions with Singapore-based budget carrier Tigerair for a possible stake sale even as they are set to sign a code share agreement soon.
The fairy tale turnaround story has, however, taken a few knocks after a second wave of the pandemic has brought a series of default notices and has posed the toughest test for the 55-year old Singh to save the airline he founded and sold to the Marans only to assume control later.
Declining urgent hearing, the top court observed that judges have more cases 'than they can handle'.
Likely to rake up the issue of open offer exemption.
It offers fares as low as Rs 1,499 for a one-way journey.
A consortium led by Ajay Singh is initially expected to invest Rs 1,200 cr, largely to cover liabilities.
The Forbes magazine had adjudged Maran as the 38th richest man in India, with a net worth of $2.3 billion (as of September).
A three-judge bench headed sought CCBI's response on Maran's plea and questioned its decision to arrest him.
Impact of the slowdown is most visible among promoter/owner-CEOs
If the Murari Lal Jalan-Kalrock Capital combine can script a turnaround, it will have pulled off a bigger coup than Ajay Singh did with SpiceJet in 2014.
On December 31, SpiceJet's accumulated losses had grown to Rs 3,233 crore.
The prospective owners of Indian low-cost carrier SpiceJet Ltd plan to cut the airline's fleet, shrink its network and return to a "plain vanilla" business model to achieve profitability, two people close to the investors said.
Last week, the carrier had asked about 60 pilots who had resigned to leave after serving only half the six-month notice period.
Civil Aviation minister says that certain regulations restricting the growth in the aviation sector needs to be re-looked to attract investments.
The 30-share Sensex provisionally ended up 46 points to end at 28,122 and the 50-share Nifty gained 20 points to close at 8,514.
Digital Radio collectively runs 45 radio stations across the country.
The father-son duo are in the radar of the probe agencies in another case concerning the Aircel-Maxis deal.
BBAM seeks $100 million, return of 6 Boeing 737s.
Sources privy to the development said Maran was being asked to take care of a part of the liabilities.
Of the 243 listed flights, it claimed to have operated 75 across the country after 1600 hours on Wednesday.
The Directorate General of Civil Aviation has been asked to open up bookings of SpiceJet till March 31, 2015, while airport operators have been asked to provide 15 days to the airline company for making payments.
The airline not to be put on cash and carry mode
Though Mistry does not make it to the club of the top 10 highest paid India Inc leaders, he will be among the next 10.
Concerned over the deteriorating condition of SpiceJet, aviation regulator DGCA on Friday withdrew 186 of its slots and asked it to clear salary dues of all its employees in the next ten days.
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