It is not easy for an FMCG brand to make a comeback if it has been out of consumer's reckoning for some time. Moreover, a protracted battle between the owners and then closure of a large number of outlets at one go might have sent some very negative signals to many, says Sneha Bhattacharjee.
Deal to help RCom reduce debt, Sun gain subscribers in new markets
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Officials in India's civil aviation ministry are now expected to meet SpiceJet stakeholders within a couple of days to discuss the revival plan
Indian airline SpiceJet Ltd said on Thursday that its billionaire owner, Kalanithi Maran has proposed to transfer majority ownership in the ailing carrier to co-founder Ajay Singh.
A senior government official informed AAI had agreed not to withdraw the credit facility of SpiceJet till Monday.
Amid reports of a possible stake sale, low-cost airline SpiceJet on Friday said it is exploring all options to mop up funds to overcome the cash crunch.
Assets include Kalanithi Maran's shares worth Rs 139 cr in Sun Direct.
Indian budget airline SpiceJet has agreed to buy around 40 Boeing 737 passenger jets worth over $4 billion at list prices as it seeks to modernize its fleet and climb out of the red, industry sources said on Tuesday.
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.
Dhoni on Monday became the co-owner of Chennaiyin FC, one of the eight franchise of Indian Super League.
Meanwhile, Minister of State for Civil Aviation Mahesh Sharma said that there was no question of any bail out to the beleaguered carrier
Kalanithi Maran claims deal with Ajay Singh is dead; SpiceJet spokesperson says Maran's claims are baseless and false
SpiceJet to add 7 planes; another Rs 500 cr infusion in April.
Promoters of SpiceJet do not have funds to bail out the airlines of dire consequences.
Spicejet has sought extention from the Airports Authority of India over payment schedule.
Sources aware of the development said as part of the project, the airline had signed an agreement with Reliance Industries Ltd, which would extend quality control services at its coastal terminals for ATF imported by the airline.
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The agency had "almost finished" its probe into the matter, which involved Dravida Munnetra Kazhagam leader and former telecom minister Dayanidhi Maran, an official said.
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 reported a loss of over Rs 1,000 crore last fiscal which is five times higher than its 2013 loss.
Things don't seem to be good at low fare carrier SpiceJet's office. In past few months, its top rung officers have resigned over differences in opinion with the management.
Actor Abhishek Bachchan is keen to explore sports entrepreneurship more seriously after his stint as the owner of a team in the Pro Kabaddi League (PKL). He is in the process of setting up a separate company to handle his ventures in the business of sports, which should be in place by the time the second season of the PKL takes off in March 2015.
The CBI had registered a case against former telecom minister Dayanidhi Maran, his brother MP Kalanithi Maran, Malaysian business tycoon and Maxis owner T Ananda Krishnan, and Maxis Director Ralph Marshall in October 2011.
National carrier Air India became part of the 27-member global airlines grouping Star Alliance, as budget airline AirAsia India launched operations and Tata-SIA joint venture carrier Vistara received the flying permit and announced its intentions to start operations from January 9.
Lessors of SpiceJet have in panic taken back some aircraft but if they see fresh investors coming in and taking charge, they are likely to relent and return the planes.
Qatar Airways might infuse $200 million in debt and equity in SpiceJet.
They are sure not to like this particular one, observes N Sathiya Moorthy
Few top honchos of India Inc did very well in 2014.
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