In 2010, Ratan Tata had spoken of how he had to abandon plans to launch an airline because he refused to pay bribes to secure the necessary approvals.
National carrier Air India incurred a loss of over Rs 5,500 crore during the 2009-10 fiscal, the government said on Wednesday.
IndiGo was set up in 2006 by businessman Rahul Bhatia and Rakesh Gangwal, a former CEO for US Airways Group.
Most airlines have fattened their profits, turned the corner, or cut their losses, except AirAsia India.
The incident which took place on Friday came close on the heels of two mid-air urinating incidents on the international flights of Tata Group-run private carrier Air India late last year.
The Vijay Mallya-owned carrier would become the first airline from the subcontinent to join any of the global airline groups, the two others being 'Star Alliance' and 'SkyTeam', spokespersons of the airline and the alliance said.
Tata Sons will increase its stake in budget carrier AirAsia India (AAI) to 83.67 per cent by acquiring an additional 32.67 per cent for $37.66 million from AirAsia Investment Ltd (AAIL), according to a regulatory filing. Currently, AAIL, which is a wholly-owned subsidiary of Malaysia-based AirAsia, holds 49 per cent stake in the Bengaluru-based AirAsia India. In a regulatory filing to stock exchange Bursa Malaysia, AirAsia said, "The board of directors of AirAsia wishes to announce that its wholly-owned subsidiary AAIL and Tata Sons Pvt Ltd, India, on December 29, entered into a share purchase agreement."
Failure to reinstate salary even two years after the drastic cuts has landed the airline industry in a massive industrial relation crisis. While employees of Air India had organised a strike back in 2011, it is for the first time that private airlines are facing serious stress related to workers. IndiGo witnessed two of them, back to back. In the first instance, around 50 per cent of the IndiGo flights were delayed as a large number of crew members went on mass sick leave, apparently to participate in a rival airline's walk-in job interview.
The car was expected to have a price tag of Rs 10 lakh and launch was slated for this June.
Shares of low-cost airline IndiGo hit record high on the bourses soon after reports of pilot crisis at Vistara emerged. The development also saw airfares surge by around 25 per cent on select routes. Shares of IndiGo hit a lifetime high of ~3,68.5 on April 2, 2024, and has gained 2.4 per cent on the bourses in April.
With its nominees on the board, Tata Sons will have the controlling stake of 51%.
As per information available with the Corporate Affairs Ministry, the new company was incorporated on November 5 with a total paid up capital of Rs 500,000 and has been registered in New Delhi.
The aircraft has accumulated these dues off route navigation, landing and parking at its airports.
As Prabhakaran was leaving his house, Rajiv Gandhi called his son Rahul and asked him to fetch his (Gandhi's) bulletproof jacket. He put the jacket on Prabhakaran's back and remarked with his usual charming smile: "Take care of yourself."
Wadia Group-owned Go First Airways' (Go First) insolvency plea could trigger a 'momentum rally' in shares of rival airlines, Interglobe Aviation (parent company of IndiGo) and SpiceJet, as they look to gain bankrupt airline's market share, said analysts. On the bourses, shares of InterGlobe Aviation hit a 52-week high of Rs 2,235.95, surging 8 per cent on the BSE in Wednesday's intra-day trade, before settling 4.5 per cent higher at Rs 2,164 apiece. Those of SpiceJet and Jet Airways, meanwhile, rallied up to 6 per cent in the intra-day trade, and ended 1 per cent and 5 per cent higher, respectively, following the development, which was announced post market hours on Tuesday.
No-frills airline IndiGo on Monday announced placing a firm order for 500 A320 family planes with European aviation major Airbus at the Paris Air Show. This is the largest ever aircraft order placed by any airline with Airbus, IndiGo said in a statement. Financial details of the order were not disclosed.
Industrial disputes dropped 89.3 per cent to 34 in 2022 compared to 318 a decade ago, shows central and state data.
According to sector estimates, it takes at least six months to develop a route.
Markets regulator Sebi has kept in abeyance the processing of Go Airlines' draft papers for an initial public offer worth Rs 3,600 crore. Go Airlines (India) Ltd, which has announced rebranding itself as 'Go First', filed preliminary papers for an initial share sale worth Rs 3,600 crore in May. The proceeds will be mainly used to repay dues. The "issuance of observations (has been) kept in abeyance", according to Sebi's latest update on processing status of Go Airlines' draft offer documents. The information was updated on June 25. In Sebi parlance, issuance of observations implies its go-ahead for the IPO.
In a major initiative to strengthen the cash-strapped aviation sector, a group of ministers on Tuesday decided to allow airlines to directly import jet fuel to enable them save on high incidence of tax and permit Air India to raise Rs 7,400 crore (Rs 74 billion) by issuing bonds or other means.
This was good enough for Fernandes to hire Chandilya to lead his India business.
Crisis-hit Go First has sought various interim directions from the National Company Law Tribunal, including restraining lessors from taking back aircraft and regulator DGCA from taking any adverse action against the airline. The Wadia group-owned airline, which has liabilities worth Rs 11,463 crore, has sought voluntary insolvency resolution proceedings and the plea is set to be heard by the Delhi bench of the NCLT on Thursday. Go First has cancelled all its flights for three days starting from May 3.
Wadia group-owned no-frills airline GoAir on Monday announced that its managing director Jeh Wadia has stepped down from the position. The airline, however, said that Wadia will continue as a promoter. It also announced the appointment of aviation industry veteran Ben Baldanza as vice chairman at the carrier. Baldanza has been an advisor to the company since 2018 and director since 2019.
The slot constraint in Indian airports is also going to play a role in pushing airlines to have wide bodies.
For any airline to be eligible for restructuring, the current ratio has to be equal to or higher than 0.4, while 'debt to Ebitda' has to be equal to or less than 5.5.
Industries such as aviation and hospitality have many silos within them and Aionos, the joint venture between Interglobe Enterprises (IGE) and Assago Group, is an attempt to bridge them and boost efficiencies using artificial intelligence (AI) solutions, Rahul Bhatia told Business Standard on Tuesday. Bhatia, the Group Managing Director of IGE, serves as the majority shareholder in India's largest airline, IndiGo. Additionally, IGE operates 21 hotels under the Ibis brand and runs a logistics company called Movin.
Delhi, Mumbai, Bengaluru, Ahmedabad, Kochi, Patna and Lucknow, among others, are the cities from where flights have been cancelled.
Loans for Indian airlines have dried up as banks have become cautious to lend to the sector.
The sources said that during the boarding, the male passenger behaved in an unruly manner and touched the female cabin crew member inappropriately.
Full service carrier Vistara will hike salaries of its pilots and cabin crew by up to 8 per cent from April amid deployment of higher capacities to meet rising travel demand, according to a source. The source also claimed that some 30 pilots have quit the airline in the last six months and are serving notice period after getting job offers mainly from the Gulf carriers. On Thursday, a senior Vistara official confirmed the salary hike for the pilots and cabin crew but denied that 30 pilots have left the airline.
Tony Fernandes had blamed Indian domestic carriers for preventing AirAsia's India launch earlier, too, but this was the first time he named an airline.
AirAsia India began operations in June 2014.
Tony Fernandes said the aviation sector here was a "double marathon" and not a "sprint".
With cash shortage and plans going awry, the AirAsia owner is looking to cash out of the venture he built with Ratan Tata in 2013.
Pricing to be outside federation's purview.
The GST rate is 5 per cent and 12 per cent on economy and business class tickets, respectively
The issue had come up during a presentation by the Civil Aviation Ministry.
Here are the world's most courteous, friendly, helpful and efficient airline crews from each continent.
Navi Mumbai airport's construction is facing delays, and is likely to commence commercial operations in 2025 instead of 2024, aviation consultancy firm CAPA has said in a report. When asked about this matter, the Adani Group told Business Standard that the Navi Mumbai airport project is "being executed as per scheduled implementation plan and will be operational by the original target date of December, 2024, without any delay". Navi Mumbai International Airport Limited (NMIAL), responsible for both the construction and operation of the airport, is a subsidiary of the Adani Group.
In a dramatic turn of events in May 2019, an Emirates aircraft en-route to Dubai was asked to stop while it was taxiing for a take off in Mumbai. The pilot was given no reason and ordered to immediately return to the parking bay. As the aircraft returned to the terminal, two passengers from the first class - Naresh Goyal and his wife Anita - were offloaded by the immigration authorities, who said the duo cannot leave the country. Goyal, founder of Jet Airways, was stunned. The man, who ruled the aviation sector for two and a half decades with an iron hand, did not expect to be offloaded in this fashion.
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