Etihad will be able to carve out a strong niche in the Indian market.
Brewing billionaire Vijay Mallya's woes seem to be compounding. His flagship spirits arm, United Spirits Ltd (USL), is starting to mirror Kingfisher Airlines.
The prospective owners of Indian low-cost carrier SpiceJet Ltd plan to cut the airline's fleet, shrink its network and return to a "plain vanilla" business model to achieve profitability, two people close to the investors said.
'Indian aviation sector needs much more investment and new entrants.'
West Bengal government has 1.2 per cent stake in BAPL.
The firm has advised United Spirits Ltd's shareholders to vote against the proposal to re-appoint Mallya as director on the board.
The UK Home Secretary will have to sign Mallya's extradition order within two months. However, Mallya's defence team has a chance to appeal in higher courts in the UK against the verdict.
The government is in the process of structuring a uniform performance-linked incentive scheme for Air India and Indian Airlines employees after the merger of the two airlines.
The airline has already decided to lease out an A330 to Etihad and plans to lease out two more this year.
Air Asia is partnering with Tata Sons and little known Arun Bhatia for their India entry.
Sebi's order comes close on the heels of Central Bureau of Investigation naming Mallya, Kingfisher Airlines and nine others, in the charge sheet related to the 2015 loan default case.
Mallya's Rajya Sabha declaration lists investments in racing, finance and investment firms.
The change in ownership is necessary to conform to the government's foreign direct investment norms in aviation.
The bank had issued the notice alleging the carrier has wilfully defaulted in payment of outstanding dues of more than Rs 770 crore (Rs 7.7 billion).
Jet Airways (India) Ltd has defaulted on lease rentals of its Boeing 737s, highlighting the financial difficulties faced by the airline.
There is little that Andreas Schmid, the Swiss-born chairman of Flughafen Zurich AG (Zurich Airport International AG), and Yogi Adityanath, chief minister of Uttar Pradesh (UP), could have in common. But Schmid, whose company is building the Noida airport in partnership with the UP government, finds himself on the same footing as the firebrand Hindutva leader who rules the state. Both hope the Rs 30,000-crore ($4 billion) project, hanging fire for 20 years, shows some progress when UP goes to the polls in 2022.
Deal will help the Diageo to ramp up its presence in the global whiskey market and Vijay Mallya to repay debts of its group company Kingfisher Airlines.
The centre eyes airport-specific digital solution and ties up with start-ups to solve problem unique to BIAL
AirAsia plans to sell 12 planes this year, a move that will bring in around 500 million ringgit ($156 million) in net profit.
SpiceJet was dragged to court by several aircraft leasing firms.
UP government renews proposal for one at Jewar, 100 km from Delhi
SpiceJet Ltd., an Indian budget airline, will likely to sell a foreign currency convertible bond worth $90 million by early September to raise money for more plane purchases, a company executive said Wednesday.
These businessmen represent the top five firms that have taken loans from the crisis-hit Yes Bank and these debts were either in the red or were stressed, officials said.
Judge Andrew Henshaw refused to overturn a worldwide order freezing Mallya's assets and upheld an Indian court's ruling that a consortium of 13 Indian banks were entitled to recover funds amounting to nearly $1.55 billion.
The company's exposure relating to Kingfisher Airlines is under various accounts including corporate guarantees to banks.
The results are required to be disclosed by listed companies on stock exchange platform for benefit of investors.
The banks have asked the court to demand his return and to impound his passport.
In 2012, Diageo had paid Rs 3,635 cr directly to Mallya for his 19.3% stake in United Spirits.
The main runway of the international airport in Mumbai remained shut on Saturday morning as incessant rains hampered towing away of a Turkish Airline plane stuck in mud near the taxiway, officials said.Continuous rain in the airport area has made the ground near the main runway slushy, preventing movement of equipment for towing away the stranded plane. The main runway is likely to resume operations only by noon, said a Mumbai International Airport Ltd spokesperson.
Jet Airways, part-owned by Abu Dhabi's Etihad, reported its biggest-ever quarterly loss as costs jumped and it took a charge on its investment in a subsidiary.
Samridhi Bhardwaj analyses the dynamics of duty-free liquor allowance in India.
Private sector low cost airline SpiceJet has entered into a strategic tie-up with Hindustan Petroleum Corp Ltd to sell air-tickets through the latter's petrol stations.
Unlike the race to buy airwaves by telecom companies, airports by infrastructure companies and city gas networks by energy companies, the race to develop super apps by consumer-facing companies in India has not brushed up against any regulatory issues. Officials at the ministry of electronics and information technology and at other regulators are happy they do not have to meddle in who among the Tata group, Reliance Industries Ltd, Flipkart or Paytm will manage to build an app that sweeps in customers. Unlike separate apps a customer uses on her mobile to order groceries, buy food or airline tickets or just make payments, a super app can perform all these functions.
According to the RTI reply, absconding diamantaire Choksi's company Gitanjali Gems tops the list of the defaulters with a whopping amount of Rs 5,492 crore. This is followed by REI Agro with Rs 4,314 crore and Winsome Diamonds with Rs 4,076 crore. Rotomac Global Private Limited has funded advances of Rs 2,850 crore which have been technically written off and Kudos Chemie Ltd with Rs 2,326 crore, Ruchi Soya Industries Limited, now owned by Ramdev's Patanjali, with Rs 2,212 crore and Zoom Developers Pvt Ltd with Rs 2,012 crore being the other companies to default on the payment. Mallya's Kingfisher Airlines figures in the list at number 9, with outstanding of Rs 1943 crore which have been technically written off by the banks.
The national carrier's capacity is expected to grow by 9.2 per cent with the addition of six more Boeing 787 Dreamliners to the fleet, they said. As of February this year, the airline has 13 Dreamliners in its fleet out of a total order of 27.
India's state-run aircraft maker Hindustan Aeronautics Ltd is making efforts to get a substantial 'offset' business from Airbus Industrie in Indian Airlines' order for 43 aircraft.
