Kiran Rao, company's executive vice-president for sales, marketing and customer affairs, also said that government-owned Air India and private carriers Jet Airways and Kingfisher Airlines will create a niche in the global market due to their quality service in the next few years despite stiff international competition.
Most airlines lose 30 pilots a year. Vistara has lost only 2 in 18 months.
'Mallya has offered to pay the original amount.' 'Let us say he means the principal amount and that stands at Rs 5,000 crores.' 'The Indian banks have to ask themselves if they would rather have this 5,000 crores or would have none of it at all,' asks Sudhir Bisht.
LCCs said apart from higher charges, which they had to fork out, there was also fear they might lose their on-time performance records.
'I used to tell my wife to pack extra food in my tiffin so that I could at least offer that to my colleagues who were living on vada pav.'
After Air India and Jet slashed ticket prices, low-cost carriers respond with 5-20 per cent cuts; likely to spur air travel market's sluggish growth.
Civil Aviation minister says that certain regulations restricting the growth in the aviation sector needs to be re-looked to attract investments.
Analysts say this is a reflection of the high debt that most aviation companies have on their books. "Aviation companies are unable to pay their dues because they are into losses.
Air India, which this year preferred a consortium of private sector players led by Reliance General, had in fact started feeling the heat even before the crash took place.
Loans for Indian airlines have dried up as banks have become cautious to lend to the sector.
Airplanes are fascinating and air travel is crucial for business and leisure. The number of people travelling by air has been increasing at double-digit levels over recent years. Low single-digit penetration provides adequate scope for growth.
The village will also help India to bid for winter Olympics in the future.
Full-service carriers Jet Airways, Kingfisher and Air India have told travel agents that they will not levy the transaction fee on air tickets from November 25. This means tickets will be Rs 350 to Rs 10,000 cheaper of bought from the airline office or website. In all, 16 carriers have shifted to the zero-commission mode. The decision of the airlines might leave 1 million people employed with over 2,000 IATA affiliated travel agencies without jobs.
Mallya took a dig at Chaudhuri by saying, while the SBI chairman had all guns blazing on loan recovery, all his guns were blazing on restart and rehabilitation of the airline.
Low cost carriers have 55 per cent of the market, up from 45 per cent in Q1 last year, and 30 per cent two years back. Does it mean India really is an LCC market? The performance of the airlines also seem to suggest that. While budget carrier Spicejet announced a small profit for Q1, all the big boys in the industry seem to be in trouble.
VRL investors have punished the stock for his move, but Sankeshwar is defiant.
Indian airlines are running into losses.
GoAir is smaller in comparison to its rivals but is still surviving despite financial crisis.
Throughout its 155 minutes, every scene is doused in blaring background music and melodrama. Disappointment alone won't do, it must feel like a full blown catastrophe, observes Sukanya Verma.
Full-service carriers like Kingfisher, Jet Airways and Air India sold travel coupons worth around Rs 300 crore to travel agents a few days before the airlines almost doubled their fares in one go. Experts say the full-service carriers have ensured 5-6 per cent of their average sales through these coupons. This, they add, will partly make up for the slowdown in demand expected due to the fare hike.
The only two truly successful private airlines in India - Jet Airways and IndiGo - have been set up and run by people who knew the ins and outs of the trade well before they took to the skies.
GoAir reluctant to respond to overtures.
After some initial take off turbulence, Gopinath is now actively steering the air cargo business steadily with equity infusion from Reliance Industries.
Majority of India's international routes have been captured by foreign airlines.
Go First chief executive officer Kaushik Khona and tribunal-appointed interim resolution professional Abhilash Lal on Thursday reached out to the airline's staff, seeking their support for revival. While Khona said the company had taken all steps for the airline's revival, Lal put forward the view it would have to raise funds. Employee engagement took place a day after the National Company Law Tribunal (NCLT) admitted the airline's insolvency plea on Wednesday and ordered a moratorium on recoveries.
Chief executive Giorgio de Roni explains to Business Standard the merit of GoAir's cautious approach.
The office of former prime minister Manmohan Singh may have taken a special interest to try and keep afloat Vijay Mallya's ailing Kingfisher Airlines against the run of play, e-mails and letters claiming this and accessed by CNN-News18 indicate.
The airline would be accepting the bids till November 19.
ED has submitted a chart of total $60.54 million received by the firms directly or indirectly owned by Talwar between April 23, 2008 to February 6, 2009.
Mallya failed to repay loans worth Rs 7,200 cr, did not pay salaries, did not deposit PF, and did not pay income tax. It is still a mystery why banks continued to pour money into the airline when it was on life support
Kingfisher has five A330-200s currently operating in its fleet, which ply between India and the United Kingdom. Deliveries are pending for another 15. Contacted by Business Standard, a company spokesperson said the airline did not ". . .envisage making any changes to the order book at this time".
Though the Mumbai and Delhi airports still rule the domestic aviation market, the share of the two in overall traffic is falling. In 2006-07, the two airports collectively handled 40.6 per cent of all domestic passengers; in 2012-13, their share fell to 37 per cent.
Hyderabad-based Turbo Megha Airways takes off, promising affordable fares and other benefits.
The national carrier, which is already struggling with its fuel payments, spends Rs 6,000-7,000 crore annually on fuel. A 10 per cent hike in crude price would mean over Rs 50-58 crore of extra costs for the airline.
One reason is that airlines have ramped up capacity and expanded their presence in tier-II markets. The first of a three-part series analyses how the aviation industry is an outlier in the midst of an overall economic slowdown.
This was good enough for Fernandes to hire Chandilya to lead his India business.
The aircraft that took off from Kathmandu at 10:30 am crashed into the Seti river gorge, killing all four crew members and 68 passengers. One person on board the aircraft is still missing.
Said the airline sector is doing well in India, with many carriers making good profits
We have cleared all dues to our employees, says Ajay Singh
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