While the quantum of investment could not be ascertained immediately, RIL said that a wholly-owned subsidiary would provide 'growth capital' for the new cargo airline.
We celebrate the pioneering achievements of Captain Durba Banerjee and Avani Chaturvedi, leaders in Indian aviation.
The civil aviation ministry granted the traffic rights to Deccan Aviation, in which Kingfisher Airlines merged in 2007, to operate services to London and other global destinations. The airline, which has already firmed up plans to launch its Bangalore-London (Heathrow) flight from the first week of September, would be starting its international services on the rights granted to Deccan Aviation on the India-UK sector.
What do you get when the company that launched India's first low-cost carrier joins hands with one of the country's top medical centres? A hospital in the sky!
Aviation stocks - Jet Airways, Deccan Aviation, SpiceJet and Jagson Airlines - closed at their 52-week highs on the Bombay Stock Exchange on Tuesday in falling market. All the four stocks gained between 5 per cent and 20 per cent on Tuesday.
Kingfisher Airlines, owned by liquor baron Vijay Mallya, has run up a debt of Rs 4,000 crore. The airline, which is merging with Deccan Aviation, is understood to have a top line of around Rs 3,000 crore and is expected to make losses of Rs 900 crore on a yearly basis. This is in addition to the losses of around Rs 650 crore suffered by Deccan Aviation.
Captain Gopinath's dream of making every Indian fly will now remain just that. But this will rise to another: Mallya's dream of making Kingfisher one of the world's top airlines.
The US Federal Aviation Administration has yet to certify Epic's planes. The company manufactures private business jets with single and twin engines, capable of carrying six to seven people.
Discussions have been initiated to sell the company to a Mumbai-headquartered, highly diversified, multi-billion dollar corporate group which has interests in retail and logistics, among various others.
Earlier this year, Kingfisher Airlines had acquired 26 per cent stake in low-cost carrier Deccan Aviation for Rs 550 crore (Rs 5.5 billion). The company also made an open offer for another 20 per cent stake in Deccan Aviation. The open offer was oversubscribed. It received bids for 35 million equity shares against the issue size of 27 million shares.
San Fransisco and New York are touted to be the first destinations.
GoAir reluctant to respond to overtures.
Private airline operators stood divided on the conditions that the government should adopt for new entrants with Jet and Sahara seeking stringent norms to keep non-serious players out of the arena, while Deccan Aviation took a contrary position.
Air Deccan, which was renamed Simplifly Deccan after the merger with Kingfisher last year, is now called Kingfisher Red. According to the data released by the civil aviation ministry on Thursday, IndiGo's market share is 10.3 per cent, while that of Air Deccan trailed behind at 10.2 per cent.
After some initial take off turbulence, Gopinath is now actively steering the air cargo business steadily with equity infusion from Reliance Industries.
The first signs of the move will be evident when both the airlines announce their summer schedules in March after receiving the approval of the Directorate General of Civil Aviation. Deccan is likely to bring down and withdraw frequencies between Mumbai-Delhi in the schedule.
The airline would offer Re 1 ticket to a few passengers through a lucky draw as part of its promotional campaign.
India is still a capital-starved economy where long-term capital can be put to work to create valuable enterprises and successful entrepreneurs, says Renuka Ramnath.
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.
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.
Mutual funds bought pharma, manufacturing, auto, and FMCG stocks in June.
Police took the pilot Colonel K Mehta and co-pilot Colonel S M Sehgal into custody when they landed the helicopter for picking up Congress leader R K Dhawan even as Prime Minister Manmohan Singh was about to take off for Palampur to address an election rally, Additional Superintendent of Police Bimal Bupta said. The make-shift helipad already had three helicopters lined for the VVIP take off, sources said, adding that the Deccan Aviation crew virtually force-landed.
Transcript of the stock market chat held on June 27 with market expert Pranav Sanghavi.
'I remember AK came on set one day; one of his films had released the previous day and was not doing well. He was very attached to that film.' 'I felt he was low and that affected me.'
Needed: Cabin Crew (Technical) and Flight Safety Instructor for Air Deccan.
For the second time in a year, Air Deccan overtook state-owned Indian (formerly Indian Airlines) in 2006, making it country's second-largest domestic carrier.
Air Deccan, the country's second largest airline, on Friday announced it has signed a deal with two European banks to raise $100 million (Rs 450 crore) to help ensure its financial stability and insulate it from the "turbulence" in the domestic aviat
Their success formula was to enter the business at the right time and exit at the opportune moment.
A court in Bulandshahr (Uttar Pradesh) has asked the Bangalore Police to ensure the presence of Kingfisher Airlines chief Vijay Mallya before it on October 31 on a pilot's petition alleging that the company was withholding his dues.
Most major carriers -- barring Deccan (which has a August-September financial year) and Kingfisher airlines -- do not agree on the figure. Hitesh Patel, executive vice-president, Kingfisher, said, "We have not yet decided on our increments but will follow the industry benchmarks."
Majority of India's international routes have been captured by foreign airlines.
When Wing Commander Rajiv Kothiyal resigned in 2002 as one of the most qualified test pilots in the Indian Air Force and quickly found a flying job in a start-up airline, Deccan Airways, he felt he had won a jackpot.
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