The group began to outperform the broader market only with the onset of the pandemic in March 2020 while earlier it was largely keeping pace with the Sensex. The group's market cap is up 164.4 per cent since the end of March 2020 against a 105 per cent rally in the Sensex.
West Asian carriers are up against Air India and IndiGo in the battle for seats on lucrative international routes.
The maintenance, repairs and overhault firm, which has six investors, received its first external funding from GTI Group and Punj Lloyd in 2007. All existing investors will exit the company following the transaction.
Unprecedented bribery charges, farewells, separation, failed union, monumental mergers and record-breaking IPOs, along with a healthy dose of online happenings in the form of spat and lessons in customer care, corporate India saw it all in 2024.
Domestic air traffic logged 14.35 per cent growth in November as compared to the corresponding period last year propelled by the festive season rush.
The government is keeping its options open.
The passengers were stopped by the crew members for consuming alcohol and they apologised in writing for the incident.
Aviation regulator DGCA has suspended two pilots of Tata Group's Taj Air, a non-scheduled airline that flies Chairman Emeritus Ratan Tata and Chairman Cyrus Mistry among others, for allegedly falsifying medical records.
Both Vistara and AirAsia India, along with their partners, are quietly putting together an aggressive plan to become a formidable force in the skies. At the core of this new push is their plan to go international this financial year.
French aerospace major Thales Group is eyeing major expansion in India. The group has started planning to set up a maintenance, repair, and overhaul (MRO) organisation in India to support Indian airlines - many of which are its customers for avionics support. "We are looking to set up an MRO, so that they don't have to travel to West Asia or Singapore. "Final decision is yet to be taken, but this is a clear intent showing the growth potential in India that we are looking to set up a sub-centre here," said Yannick Assouad, executive vice-president, avionics at Thales, who was on her maiden visit to the group's India office at Bengaluru since taking charge.
Holding that Air India's conduct appeared to be 'unprofessional', aviation regulator Directorate General of Civil Aviation (DGCA) on Thursday issued notices to the officials and crew of the New York-Delhi flight, asking why action should not be taken against them for 'dereliction' of duty while handling the November 26 'urination' incident.
If all goes well, then every single employee of Jet Airways will become an owner of the airline.
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 last evening.
Flight cancellations and subsequent grounding of Jet Airways adversely impacted seat capacity in the domestic market which also resulted in fares going up.
'My one recommendation would be to first quell the violence and then encourage dialogue and build the trust among the different communities.' 'This is not easy but necessary, for violence cannot be the way forward.'
Domestic air passenger volume spiked 70.46 per cent in October to 89.85 lakh over the same month of 2020, DGCA data showed on Thursday. The Indian carriers had flown 52.71 lakh passengers in October last year. It may be recalled that domestic traffic along with international flight services remained shut for two months until May 25, 2020, when scheduled air services were resumed in a graded manner.
An exclusive excerpt from The Tatas: How A Family Built A Business And A Nation.
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.
'This case is not a good example of intellectual property strategy for either sector.'
Tata Group chairman Natarajan Chandrasekaran on Thursday said the group's recently launched super app Neu is on an open architecture and it will host non-group brands as well. The Tatas finally launched its super app Tata Neu on April 7, after piloting it for months, but the group chairman claimed there was no delay in the commercial launch. Stating that the app has received an overwhelming response in the past seven days of going live, Chandrasekaran said the app is on an open architecture and will host products and services from non-Tata group companies.
'I hope they all survive, but it is a tough world.' 'The carriers who are already established are already struggling.'
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.
Mumbai International Airport (MIAL) has proposed a significant increase in User Development Fee (UDF) for international passengers, while domestic passengers will be charged a UDF for the first time. However, MIAL also proposed a 35% reduction in landing and parking charges, aiming to balance infrastructure development with cost-effective air travel for airlines. The new tariff structure is subject to approval by the Airport Economic Regulatory Authority (AERA).
Most airlines have fattened their profits, turned the corner, or cut their losses, except AirAsia India.
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.
Fuelled by rising passenger traffic and reviving local economies, the global airline industry is projected to record a net profit of $9.8 billion this year, IATA Director General Willie Walsh said on Monday and also made a strong pitch for having global standards for a Sustainable Aviation Fuel (SAF) book and claim system to help reduce carbon emissions. While addressing the Annual General Meeting of the International Air Transport Association (IATA) here, Walsh also flagged concerns about supply chain issues that are raising costs as well as limiting the ability of airlines to deploy aircraft. He also pointed out that decarbonising aviation is a serious issue and governments must not be allowed to use it to shore up exchequer finances.
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.
With its nominees on the board, Tata Sons will have the controlling stake of 51%.
The aircraft has accumulated these dues off route navigation, landing and parking at its airports.
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."
The car was expected to have a price tag of Rs 10 lakh and launch was slated for this June.
Zudio was the standout performer as it tapped into the pentup demand in small-town India, at a pace never seen before, notes Indrajit Gupta, co-founder and director, Founding Fuel.
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.
According to sector estimates, it takes at least six months to develop a route.
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 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.
This was good enough for Fernandes to hire Chandilya to lead his India business.
The company said it has suspended the staffers and that it was part of the operation to unearth this crime.
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.
