Air-India is to launch a new subsidiary airline with 25 per cent lower fares with leased Boeing 737-800 aircraft from April next year.
State-owned Air India plans to raise up to $1.1 billion including $300 million for its subsidiary Air India Charters Ltd to fund aircraft acquisition and meet its working capital requirements.
Nearly three decades after the ambitious project was first conceived to decongest the existing airport in the financial capital, the greenfield Navi Mumbai International Airport became a reality on Thursday as an IndiGo Airbus A320 from Bengaluru landed on the tarmac at 8 am amid a traditional water cannon salute.
Tatas-owned Air India plans to acquire no-frills carrier AirAsia India and has sought approval from the Competition Commission for the proposed deal. AirAsia India is majority-owned by Tata Sons Private Ltd with a shareholding of 83.67 per cent and the remaining stake is with AirAsia Investment Ltd (AAIL), which is part of Malaysia's AirAsia Group. Full service carrier Air India and its low-cost subsidiary Air India Express were acquired by Talace Private Limited, a wholly-owned subsidiary of Tata Sons Private Ltd, last year. Besides, Tatas operate full service airline Vistara in a joint venture with Singapore Airlines.
Air India Express has sacked an employee and ordered penal action against three others after a probe found them guilty of discrimination and favouritism against Delhi-based cabin crew during the last six months.
The Directorate General of Civil Aviation (DGCA) has recommended giving financial autonomy to Air India Charters Ltd (AICL), the company which runs Air India Express, the low-cost brand of Air India operating in the international sector.
The plan includes expanding the number of flights of AI Express from 204 a week to over 250 a week with a new thrust on West Asia.
The government on Thursday said state-owned carrier Air-India would raise funds through loan guaranteed by the US Exim Bank to part-finance its purchase of 68 aircraft costing about $7.2 billion.
Proposals for listing of AAI and Pawan Hans have been made in the Draft Civil Aviation Policy, released by Raju.
Opening another chapter in aviation industry, G R Gopinath, the pioneer in low-cost carriers, had his Deccan Charters Ltd join hands with Taj Air, the executive charter service of Indian Hotels Company Ltd (IHCL), and Business Jets India Pvt Ltd (BJETS), to launch Powerfly.
Even as growth in traffic on chartered flights has fallen 6 to 8 per cent over the past year, rising fuel prices are forcing private charter operators to raise tariffs a substantial 20 per cent from September 1. India has more than 50 non-scheduled operators, which include helicopter operators like Global Vectra, aircraft operators like Ran Air and Taj Air and companies like Deccan Aviation Ltd that fly both helicopters and aircraft.
During the checks on the Cessna aircraft registered with Business Jets India, the DGCA found that the pilots in command did not have necessary training certificates.
Spirit Air Private Ltd, a Lucknow based private air-taxi service provider, entered into an agreement with DTDS Travel and Tour Planner Pvt Ltd, to begin its service on Airport Authority of India's controlled airports such as Ranchi, Gaya and Patna.
Excerpted from Sahara: The Untold Story by Tamal Bandyopadhyay.
The CBI also carried out searches at the residence and office of controversial arms dealer Sanjay Bhandari in connection with the deal
The central probe agency had filed a money laundering case to probe the deal and is carrying out the action to collect evidence under the Prevention of Money Laundering Act (PMLA), officials said.
Visitors will be taken from one tourist spot to the other in a seven seater helicopter to save time and also discomfort on the roads, says E M Najeeb, Chairman Air Travel Enterprises, which is marketing the packages through its leisure arm.
Finance Minister Nirmala Sitharaman on Monday presented the Budget for 2021-22 in the Lok Sabha that is expected to provide relief to the pandemic-hit common man as well as focus more on driving economic recovery through higher spending on healthcare, infrastructure and defence amid rising tensions with neighbours, As India emerges from the COVID-19 crisis, the ninth Budget under the Modi government, including an interim one, is widely expected to focus on boosting spending on job creation and rural development, generous allocations for development schemes, putting more money in the hands of the average taxpayer and easing rules to attract foreign investments.
The two countries also asked all nations to stop cross-border movement of terrorists and asserted that a decisive collective response from the international community without 'double standards and selectivity' was required to combat the threat of terrorism.
India's main hubs are bursting at the seams.
Ten trade unions with a combined membership of 15 crore workers in public and private sector, including banks and insurance companies, are on a nationwide strike to protest against changes in the labour laws.
'With folded hands, on humanitarian grounds, if she can get temporary bail on medical grounds so she can get treatment.' 'If she dies, the whole trial gets derailed.'
As his personal wealth started booming, Mallya went on a buying spree.
This is the joint statement issued by the ministry of external affairs on the visit of US President Barack Obama to India.
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