Jet Air shares rally on expectations that continuing troubles at rival SpiceJet will help it gain market share.
His resignation comes at a time when the cash-strapped airline is looking at various ways to get in fresh investment. The airline will either look at a merger with Kingfisher Airlines, which is promoted by liquor baron Vijay Mallya, or a possible infusion from US distress fund Wilbur Ross, which is willing to pump in money.
Idea Cellular's bid to acquire a controlling stake in the B K Modi-promoted Spice Communications has hit a pricing roadblock. Investment banking sources said that B K Modi had asked for Rs 70 a share for his 40.8 per cent stake in Spice, valuing the company at Rs 4,829.47 crore, but Idea is reluctant to pay that much."Any price valuing Spice Communications beyond Rs 4,200 crore would be expensive for Idea Cellular," said an analyst with a domestic brokerage.
As full-service carriers hiked fares and surcharges due to skyrocketing jet fuel prices, the no-frill ones have launched special offers with SpiceJet on Thursday announcing the sale of three lakh tickets for Rs 3 each plus taxes and surcharge from Friday.
There could be rejig at top level at SpiceJet.
The airline dropped fares to gain customer load, but failed to cover the cost of its flights
Former Spice Girls member Geri Halliwell has launched her own beachwear range. Take a look!
Falling jet fuel prices, stable rupee signal lower losses
Bullets fly, the noise becomes unbearable and the plot finally ends with the hero doing an unbelievable leap on to the ski of the helicopter aka Schwarzenegger, flown by our pretty heroine. UFF UFF! Squirming in my seat, I ponder over what I have been through, sighs Air Commodore Nitin Sathe (retd).
An adaptation of one of the signature dishes of Himachal Pradesh.
With low-visibility conditions significantly disrupting flight operations at the Delhi airport, Civil Aviation Minister Jyotiraditya Scindia on Monday said all stakeholders are working round-the-clock to minimise fog-related impact as well as passenger inconvenience, and asserted that unruly passenger behaviour is unacceptable.
The UK-based promoter-director Bhulo (Bhupendra) Kansagra of Delhi-based low-cost carrier SpiceJet is willing to divest the family stake in the airline if the valuations are right. The Kansagra family owns 12.91 per cent in the airline, which is publicly listed, and has a 10 per cent share in the Indian market, and a market capitalisation of $250 million.
An intriguing pulau that could be a great lunch fixture
With the Ram Mandir scheduled to open its doors to visitors in January, Ayodhya is expected to welcome travelers both from India and abroad.
ITC, the Kolkata-based tobacco-to-hotels major, is extending its flagship foods brand, Aashirwaad, to spices and rice. The move will reduce its reliance on the cigarettes business.
The revised policy, which has come into effect since last week, means passengers who are looking to skip the long queues at airports will have to shell out a fee for it. For IndiGo, the lowest seat fees is Rs 100 while for SpiceJet it is Rs 99.
These Bollywood beauties who show you how to rock the colour of 2024.
The company held about $12 million worth of FCCBs in SpiceJet. Bank of America-Merill Lynch brokered the block deal for the company, said sources.
The Chennai office of Registrar of Companies sent the notice to the second-largest no-frills private carrier last month.
This would be the third fund infusion in the airline by Maran since September 2011.
With tomato selling at Rs 120 to Rs 160 per kilo, these desi curries will be your saviours.
The airline's board decides to issue warrants to promoters on a preferential basis
A look at the Kalanithi Maran-controlled airline's place in the domestic aviation sector
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.
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.
Three months after Sanjay Aggarwal resigned as chief executive officer (CEO) of SpiceJet, the airline announced the appointment of Neil Raymond Mills as the CEO.
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.
If all 102 grounded planes could fly, there will theoretically be 400 more Delhi-Mumbai flights every day.
Low cost airline SpiceJet, will introduce international flights to Bangladesh, Sri Lanka and Nepal from Kolkata by June.
Quick, nutritious curry of butter beans that tastes wonderful slopped over rice or had with garam rotis.
'I always say you really cannot own a recipe.' 'In India, where, we have been cooking for thousands of years, how can you put a finger and say, 'This is mine'?'
Idea Cellular, the fifth largest mobile operator in the country with around 15 million subscribers, is believed to be on the verge of clinching a cash-cum-equity buyout of Spice Telecom that values the latter at around $1 billion.
In an effort to increase the exports of spices from India, the Spices Board has set a target turnover of $880 million this financial year against $800 million last year.
The budget carrier was on the verge of collapsing in Dec.
Telekom Malaysia which already holds over 49 per cent equity stake (which it bought for over Rs 730 crore in Spice has been looking at expanding its base in India beyond just the two circles.
SpiceJet COO says ATF price cut is need of the hour.
Growth in the domestic market in the second quarter was fuelled by low fares but this has impacted airline profits.
The airline management has now sought a meeting with civil aviation minister Ashok Gajapathi Raju to present the airline's plan.
First investment by the group in aviation; deal size may be less than Rs 100 crore.
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