Air India on Friday said it has completed the acquisition of its first A350-900 aircraft by way of a finance lease transaction with HSBC through the GIFT City. This is also the first wide body aircraft to be leased through the GIFT City, the country's first International Financial Services Centre (IFSC). In a release, the airline said the transaction was facilitated by its wholly-owned subsidiary AI Fleet Services Ltd (AIFS) and is also the first financing transaction from the orders for 470 aircraft that were made earlier this year.
A few days back, Atul Ganatra, president of the Cotton Association of India, presented a grim scenario of the crop's prospects in the 2024-25 season that starts in October. Addressing the association's annual general meeting, Ganatra said the area under the crop could go down by at least 10 per cent in the coming season due to falling yields and realisation, leading to farmers losing interest. The fear of a decline in acreage comes against the backdrop of India's cotton production probably falling to its lowest in a decade, according to estimates.
Tata Sons has emerged as the top bidder for the takeover of debt-laden State-run airline Air India but the bid is yet to be approved by a group of ministers headed by Home Minister Amit Shah, sources said.
Civil Aviation Minister Hardeep Singh Puri had said on Saturday that 149 people have been admitted to hospitals, 23 have been discharged, while three are critically injured in the B737 plane crash.
Existing optimism about the capital goods sector has been enhanced by the Assembly election results, which were favourable for the BJP. The prospects of political continuity led to renewed interest in the sector. There are demand-supply gaps, especially in power, and visibility of improved pricing and strong order flows, including from private enterprises.
With general elections on the horizon, the government's privatisation bandwagon has almost but stalled as a government wary of being accused of selling family silver opts for minority stake sales on stock exchanges over outright privatisation. The result -- the divestment target for current fiscal year is again likely to be missed. Big ticket privatisation plans such as that of Bharat Petroleum Corporation Ltd (BPCL), Shipping Corporation of India (SCI) and CONCOR are already on the backburner and analysts feel meaningful privatisation can happen only after April/May general elections.
The changes are in view of the requests received from interested bidders and the prevailing situation arising out of COVID-19.
A number of exhibitions at the Bharat Mandapam, the convention centre which will host key G20 summit meetings, will showcase India's technological prowess and innovation, and offer a multitude of unique experiences to the visitors.
The United States-China Summit meeting concluded at a sprawling mansion in Woodside, California with Presidents Joe Biden and Xi Jinping agreeing to work towards ensuring that the differences between the two countries remain manageable and the relations do not derail.
They described the functioning of the interlocking system which prima facie seemed to have been part of the problem which led to the accident, in which at least 275 people were killed.
Flight AI173 from Delhi was diverted to Magadan in Russia on Tuesday owing to an engine glitch, the Tata Group-owned private carrier said in a statement.
On Monday, the fifth Air India flight landed in Delhi from Bucharest with 249 Indian nationals while the sixth flight arrived from Budapest here with 240 Indian nationals, the officials said.
Logistic players have seen a sharp correction at the bourses over the past six months as intense competition from new-age-tech startups, higher freight rates, and weak macros dented listed players' growth outlook. Analysts warn that the emergence of tech-based startups could weigh on organised players' profit-pool, and can potentially erode their market share. Thus, a stock-specific strategy would be prudent at this juncture with focus on companies that are rapidly innovating and investing in technology.
rediffGURU Geeta Ratra offers expert advice on international courses, student visas and immigration processes.
"Financial bids for Air India disinvestment received by Transaction Adviser. Process now moves to concluding stage," DIPAM Secretary Tuhin Kanta Pandey tweeted.
The mortal remains of co-pilot Akhilesh Kumar were cremated on Sunday "with attendance from all family members as well as with the officials of Air India and Air India Express present to mark respect to the departed soul at Mathura, his hometown".
India's first escalator, its shortest elevator, a terror attack, a rescue operation -- the building's seen a lot.
The 55 basis point (bps) spike in the US 10-year bond yield, triggered by a combination of FOMC's hawkish commentary and BOJ's relaxation of the yield control curve (YCC) has made analysts cautious on Asian equities and expect them to trade sideways in the short-to-medium term.
The judge, in his order, stated that "to further assess the worldwide view on bail when the assault was laced with cruelty, the use of artificial intelligence platform which has been trained with multitudinous data was made".
The airline had renewed its insurance on Oct 1 for nearly $29 million to cover its 132 aircraft.
V Thulasidas, Air India Chairman and Managing Director, has announced a bonanza package of 2,000 additional seats comprising seven additional flights from Kerala to destinations in the Gulf and Middle East.
Air India on Monday announced a new compensation structure for its pilots and cabin crew, with a guaranteed flying allowance of 40 hours per month for both categories of staff. While the flying allowance has been doubled for pilots, it has been introduced for flight attendants as part of the new compensation structure. Pilots will earn an additional amount as a reward based on the number of years of service with the airline and get an allowance while undergoing training for command or conversion to another aircraft type.
While Air India Express is expected to get the full insured amount for the hull loss, it will have to pay compensation to the kin of the deceased and injured, according to applicable laws. The compensation will be paid from its liability cover.
Prime Minister Modi also made a veiled reference to China, saying the global order is based on the respect for the principles of the UN Charter, peaceful resolution of disputes, and respect for sovereignty and territorial integrity.
It is for China to decide what role it plays at the G20 summit in New Delhi, a top US official has said, asserting that if Beijing wants to come in and be a "spoiler", that option is available to it.
In Ahmedabad to promote tourism in the island nation, Fernando said China has made a lot of investment in Sri Lanka and has been 'understanding its requirements in the past'.
To attract potential suitors, the government will ease asset valuation norms for Air India by allowing bidders to put in offers on an enterprise value basis, a source said on Monday. To begin with, the government is likely to further extend the deadline for putting in a preliminary expression of interest for the loss-making national carrier to December 15. The source said bids will be sought on an enterprise value basis - a popular valuation methodology for takeover deals.
The flight was scheduled to depart at 1.45 pm but due to the non-availability of the pilot it could take off only at 2.30 pm.
After its unsuccessful bid to sell Air India in 2018, the government this time has decided to offload its entire stake.
Leading scientists and experts said this monumental accomplishment not only marks India's indelible imprint on lunar exploration but also demonstrates the prowess of human collaboration, determination, and cutting-edge technology.
'The Telugu film industry has always been safe, no matter what the crisis.' 'The audiences here are crazy film fanatics and their loyalties are undivided when it comes to Telugu cinema.'
Captain Sathe was a former Indian Air Force Test pilot. He was commissioned into service in 1981 and served in the force for 22 years.
The new owner may be allowed to dispose of assets accruing from the 10-26 per cent of the net assets of the company.
Govt says domestic carriers' financial health a concern.
A person in the know of the PIM details said an entity can put in bid for Air India on the "strength of its parent", which was not there before. A consortium can participate in the disinvestment process, provided each partner has at least 10 per cent stake as well as 10 per cent of the Rs 3,500 crore net worth requirement, according to the bid document. The lead member of a consortium should have at least 26 per cent stake. Individuals are allowed to bid as part of consortium.
Pitchers Season 2 is intense but an engaging watch, observes Namrata Thakker.
'Tata Group is excited to work together to make Air India the airline of choice in terms of passenger comfort and service'. This is an audio message from Ratan Tata played onboard some Air India flights. Tata Group completed the takeover of the loss-making Air India on January 27.
JEE Advanced preparation can be long and tedious, and it's easy to lose motivation. Students must stay motivated and focused on their goals, alerts Ujjwal Singh, CEO, Infinity Learn.
Here's the full text of Prime Minister Narendra Modi's address to a joint session of the United States Congress, delivered on Thursday.
Google will introduce a new way to search "visually" in the coming months, making it easier for users to express their questions in more natural ways. Google, at its Search On livestream event on Wednesday night, shared details of how the tech giant is bringing the latest in artificial intelligence (AI) to its products, giving people new ways to search and explore information in more natural and intuitive ways. Earlier this year at its flagship event Google I/O, the US-based company had announced that it had reached a critical milestone for understanding information with Multitask Unified Model or MUM.
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