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.
DIAL has filed four cases in June 2012 against Mallya over KFA's cheques totalling Rs 7.5 crore not being honoured.
RTI activist Anil Galgali had asked SBI about the total amount of loans given to the beleaguered businessman.
The government on Friday said it has penalised Kingfisher Airlines with a fine of over Rs 26 crore (Rs 260 million) for delay in the payment of tax deduction at source (TDS).
Ajay Singh will team up with two blue-chip investors to bail out the airline
Businessman Vijay Mallya's property worth Rs 14 crore located in France has been seized under the anti-money laundering law, the Enforcement Directorate said on Friday. It said the action was undertaken by French authorities "on the request of the Enforcement Directorate" and the property bears the address: 32 Avenue FOCH in France.
India does not have a formal bankruptcy process. Liquidation pleas could take years before a final verdict.
The check-in process at Mumbai international airport's T2 has been hit, with all systems going down. This has resulted in huge queues at all counters, affecting check-ins and passage drops.
Royal Airways Ltd on Monday announced the launch of its new low-fares, no frills, brand Spice Jet.
Domestic air passenger traffic touched 1.25 crore in January this year, an increase of 96 per cent compared to the year-ago period, according to rating agency Icra. However, it said the traffic remained around 2 per cent lower compared to the pre-Covid levels -- January 2020. The traffic stood at 64 lakh in January last year. Icra is maintaining a negative outlook on the Indian aviation industry, reflecting the view that the financial performance of Indian airlines is likely to remain under pressure in the near term, even though the recovery in domestic passenger traffic has been healthy.
The government's contention was that Sahara Airlines Ltd (now JetLite) was promoting the real estate and housing business and area operations of Sahara India Commercial Corporation.
The order came days after Goyal told the court that he had "lost every hope of life and it would be "better if he died in jail" than living in such a situation.
It had issued warrants directing the police to produce Mallya before it.
This issue was recently decided by the South Mumbai Forum.
Suvidhaa has 22,000 outlets in 500 cities and towns and has plans of taking it to 100,000 outlets in the next two years, maintaining a balance between metro and rural areas.
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.
IndiGo was set up in 2006 by businessman Rahul Bhatia and Rakesh Gangwal, a former CEO for US Airways Group.
Air India will restore salaries that were cut in the wake of the coronavirus pandemic from September 1, according to a communication. The loss-making airline, which was taken over by Tatas in January this year, has also decided to revise crew layover allowances and meal arrangements from September 1. In the communication to the employees, Air India CEO and managing director Campbell Wilson said the airline "will be restoring the salary reduction for all employees with effect from September 1, 2022."
Wadia group-owned Go First will temporarily suspend flights on May 3 and 4 amid severe fund crunch, the airline's chief Kaushik Khona said on Tuesday.
A pilots' grouping of Tata group-owned Air India has approached the labour department to initiate conciliation proceedings with the airline's management to sort out various issues, including concerns over possible changes in service conditions of its members. The Indian Commercial Pilots Association (ICPA), which claims to represent around 900 pilots flying narrow-body planes of Air India, has written to the Chief Labour Commissioner (CLC) as well as Deputy CLC and Assistant Labour Commissioner in New Delhi earlier this week. Apart from service condition issues, the association has flagged that the airline's plans to hire captains for its A320 fleet on a fixed-term contract may result in an anomalous situation for the existing pilots at Air India.
At present, there is no direct air connectivity between India and Myanmar.
On April 20, the court had convicted Mallya and others in connection with bouncing of two cheques of Rs 50 lakh each under relevant sections of Negotiable Instruments Act
The agency filed its affidavit in response to Goyal's habeas corpus (produce the person) petition in which he claimed he was illegally arrested by the ED in the case.
The airline is also looking at cities in the northeast.
The outer structure of Navi Mumbai International Airport's first terminal building is almost ready. Exactly behind the under-construction building, stands a partially demolished hill. Executives from the airport company are now hopeful the hill will be flattened by mid-January, paving the way for the first commercial take-off by December next year.
Rivals say the concessions would benefit AirAsia alone.
The budget airline is waiting for approval from India.
However, this was subject to conditions like substantial ownership and effective control of the airline being vested in Indian nationals.
The Kingfisher Flying Models offers a chance to fly as well as launch your modelling career.
The government will start working on selling the ground-handling arm of erstwhile national carrier Air India and the Expression of Interest (EoI) is expected in the next fiscal, an official said. "We already have the Cabinet approval for selling the subsidiaries of Air India. "So we will come out with an EoI inviting bids for one of the ground-handling arms in the next fiscal," an official told PTI.
Kingfisher Airlines Ltd has been directed by the Delhi High Court to pay Rs 52.61 lakh to a pilot.
One smells a rat when cases are settled for too small a price offered either by the highest bidder or the promoter -- within and outside the legal ambit of insolvency process, observes Tamal Bandyopadhyay.
The Delhi high court on Wednesday pulled up the Centre and the city government over their failure to implement Vishaka guidelines on dealing with cases of sexual harassment against women in the aviation industry in New Delhi.
The government will transfer about Rs 16,000 crore of unpaid fuel bills and other pending dues that Air India owes to suppliers, to a special purpose vehicle before handing over the loss-making airline to the Tata Group, a senior official said. Air India Assets Holding Ltd (AIAHL), which will hold non-core assets of Air India such as land and building, will also be saddled with 75 per cent of the airline's debt that the Tata Group is not taking over. Besides the debt, the excess liability going to AIAHL comprises unpaid fuel bills to oil companies, airport operators and vendors, said Tuhin Kanta Pandey, Secretary to the Department of Investment and Public Asset Management - the department running the privatisation programme of the government.
Divestment-bound Air India is looking to sell securities of its two provident trusts AIEPF and IAEPF, and has sought applications for transaction advisors to help with the proposed sale of the securities. The Air India Employees Provident Fund (AIEPF) trust and Indian Airlines Employees Provident Fund (IAEPF) trust are governed by the Provident Fund Trust Act, 1925. The two trusts' investments together amounted to Rs 4,500 crore as of August 31, 2021, according to the tender document, seeking RFPs for the appointment of the transaction advisors.
Sources close to the development reveal that after hectic negotiations and several rounds of meetings, the choice of brand was a unanimous one.
InterGlobe Enterprises Ltd on Thursday announced its plans to launch IndiGo, its nation-wide low-cost airline venture.
FIA has filed two separate petitions challenging the approvals granted to Tata-Airasia and Tata-SIA Airlines deals respectively.
The exact figure not known yet but advertisements for recruiting employees would hit print this week.
"Financial bids for Air India disinvestment received by Transaction Adviser. Process now moves to concluding stage," DIPAM Secretary Tuhin Kanta Pandey tweeted.
