Ending a seven-year-long wait, the Star Alliance Chief Executive Board, at its meeting in London on Monday, gave an endorsement vote to induct Air India into the fold.
Ajay Singh is trying hard to turnaround SpiceJet.
SpiceJet has cut costs to turnaround the carrier in a year's time.
The additional stake will cost the promoters Rs 312 crore (Rs 3.12 billion).
Some lessors have even taken the airline to court.
The decision comes hours after an A320 neo aircraft of IndiGo suffered engine failure mid-air and made an emergency landing at Ahmedabad airport.
Airline now financially more stable but still in the doldrums as the operating environment remains tough.
'People have been flying for years on the basis of a police clearance and an airport entry pass.' 'Then they came out with a convoluted thing -- that your police clearance must be from your place of residence.' 'Now if a pilot is sitting in Delhi but is from Timbuktoo, the papers will have to come from there.' 'So at any point, you have a certain number of pilots sitting on the ground because his AEP has expired and the papers haven't come.' Revealed: India's bizarre processes to get pilots to fly planes.
Konnect to be phased out as airline struggles to contain losses.
Earlier, PE firms such as Goldman Sachs and Indigo Partners had evinced interest in the Indian aviation market.
Though Vistara is not a low-cost carrier, it could benefit from the fact that the difference between the fares of LCCs and economy class of full-service carriers in India is minimal today.
The 30-share Sensex ended down 339 points at 28,119 and the 50-share Nifty closed 100 points lower at 8,438.
The first to take off will be Air Pegasus, promoted by Bengaluru-based ground-handling firm Deccor Aviation.
The world's 10 longest non-stop flights criss-cross the world, cutting down travel time and making journeys easier and comfortable.
Media reports said that Air India's Flight AI-312 landed at Sydney Airport at 8.29 am (local time) few minutes behind its schedule and then to Melbourne early afternoon at 11.59 am.
In the lead up to this week Indo-US Strategic Dialogue, for which United States Secretary of State, John Kerry, will be coming to Delhi, the Indo-US defence engagement is even more intense than usual.
UAVs are an intrinsic part of today's technology driven battlefield. Indians don't seem to be taking the challenge with the degree of urgency that is required, says Brigadier S K Chatterji (retd).
The government also said it will hold consultations with the airlines to explore the possibility of curbing the menace of charging exorbitant airfares during emergency situations.
National carrier Air India became part of the 27-member global airlines grouping Star Alliance, as budget airline AirAsia India launched operations and Tata-SIA joint venture carrier Vistara received the flying permit and announced its intentions to start operations from January 9.
Lessors of SpiceJet have in panic taken back some aircraft but if they see fresh investors coming in and taking charge, they are likely to relent and return the planes.
Rajya Sabha MP Rajeev Chandrasekhar is underwriting the revival of a vintage Dakota as a gift to the Indian Air Force.
That it has been threatening to review this rule for a while is old hat anyway.
In the light of India's increasingly 'darkening' threat environment and the convergence of strategic interests between China and Pakistan, the IAF's declining combat capabilities are a cause for concern, says Brigadier Gurmeet Kanwal (retd).
Even as three Rafale fighters line up in Bengaluru for eye-popping aerobatics displays at the Aero India 2015 exhibition this week, senior ministry of defence sources say the proposal to buy the French fighter is "effectively dead".
Altigreen's hybrid engine will help make cars more fuel efficient and the air we breathe cleaner.
Indian billionaires do not believe in sitting on their wealth.
Here are the world's most courteous, friendly, helpful and efficient airline crews from each continent.
Domestic airports across the country are bursting at the seams. And new ones are stuck.
Companies world over have to confront unprecedented factors that can cause losses.
Given the cost structure in the country, it won't be easy for AirAsia to offer 'Nano' fares and still make money.
'Under the present Defence Procurement Procedure, it would have been a nightmare, and a long, long one at that, to build 108 Rafales in India. Modi realised this and took the wise decision, though it is a definitive setback for his Make in India scheme.'
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