In a move that signals a fresh round of consolidation in the recession-hit aviation industry, budget carrier SpiceJet may pick 7.5 per cent stake in another low-cost airline IndiGo.
The airline pitches its product and service, keeps silent about price in a new campaign as it looks to win over young business travelers.
Last year, air traffic grew by 9.7%.
Cyclone Fengal expected to make landfall near Puducherry.
Latter's market share rises to 36.1% in Dec; best on-time performance across metro airports
The Foreign Investment Promotion Board on Friday gave conditional approval to the proposal of InterGlobe Aviation which would pave the way for fresh foreign direct investment in private air carrier IndiGo.
Currently, there are related party transactions in four areas -- real estate leased to IGAL, simulator training facilities, General Sales Agreements (GSAs) for limited foreign markets and crew accommodation at Accor Hotels, the IGE statement said. Citing unaudited numbers for 2018-19, the statement said the related party transactions in the four areas accounted for Rs 150.12 crore or 0.53 per cent of IGAL's consolidated turnover.
The Delhi airport, the country's busiest airport, on Friday early morning witnessed the collapse of a roof at Terminal 1 amid heavy rains that killed one person, prompting the government to order a detailed probe and an inspection of the structural strength of all airports.
No-frills carrier IndiGo's market share stood at 36.8 per cent in February while that of Jet Airways was 18.4 per cent.
No IndiGo flights will be available on the Mumbai-Bangkok route from March.
Sources say the arilines has inducted a senior pilot from IndiGo to head its safety team.
Travelling from South India to Kashmir in December was magical for Ganesh Nadar as he feasted his eyes on the beauty of the snow-capped Himalayas.
Gangwal said he will not vote in favour of resolutions that intend to expand the size of the board to 10 members. Gangwal wants a seven-member board.
The aircraft involved in the incident were operating on Coimbatore-Hyderabad and Bengaluru-Cochin routes.
Rahul Bhatia set up IndiGo and the Ibis hotels in India.
Hit by the third wave of the COVID-19 pandemic and soaring fuel prices, airlines are flying towards record losses with a likely loss of a whopping Rs 20,000 crore for the full fiscal year, warns a report. The airlines are flying towards their steepest-ever net loss of over Rs 20,000 crore this fiscal, which will be 44 per cent more than Rs 13,853 crore they bled last fiscal, Crisil said in a report. This will push back the industry's recovery beyond fiscal 2023, the report based on three large listed airlines--Indigo, Spicejet, and Air India--which together command 75 per cent of the domestic traffic, warned.
IndiGo CEO Ronojoy Dutta announced on Thursday that the airline was instituting pay cuts for senior employees and he would himself take the highest cut of 25 per cent amid the novel coronavirus pandemic that has hit the aviation industry hard.
IndiGo gained a market share of 14.7 per cent, closely followed by Kingfisher Red at 13.3 per cent whereas Kingfisher slipped two notches to the fifth position at 11.6 per cent. Kingfisher stood at No.3 in October, followed by Kingfisher Red and IndiGo at fourth and fifth, respectively.
Loans for Indian airlines have dried up as banks have become cautious to lend to the sector.
IndiGo had debt of Rs 3,912 crore at end of the June quarter.
There was no word from IndiGo's CEO Aditya Ghosh.
154 people on board an IndiGo aircraft had a narrow escape on Wednesday following a problem in its landing gear that caused thick smoke to emanate after touching down at the airport in New Delhi, leaving some passengers with minor injuries during evacuation.
IndiGo will add Nagpur to its flight map from October 20 with daily flight to Mumbai and Kolkata.
Budget carrier Go Airlines, which has rebranded itself as 'Go First', has filed preliminary papers for an initial share sale worth Rs 3,600 crore.
'My one recommendation would be to first quell the violence and then encourage dialogue and build the trust among the different communities.' 'This is not easy but necessary, for violence cannot be the way forward.'
Going 'long' is becoming an overcrowded trade on Dalal Street, and any negative trigger could lead to a sharp correction, warn experts. However, given the strong momentum, particularly in IT stocks, the downside could be protected in the immediate term. "With the Nifty50 surging to new life-time highs, the bulls remain in control. Further upsides are likely once the immediate resistance of 21,492 is taken out.
Bharti Airtel, the country's largest mobile operator, has already joined the global Seamless Alliance to provide in-flight connectivity.
Spicejet receives maximum complaints regarding refunds
Airlines like IndiGo and Jet Airways have been quick to take the cue to keep their fuel costs under check.
Low-cost airline IndiGo on Tuesday said it has no plans to take on-board an overseas partner to expand its business.
Ghosh said the Tata Trusts Cancer Care Initiative is one of the largest health care programmes in the world
This issue was recently decided by the South Mumbai Forum.
Analysts have questioned the Aditya Ghosh-led company's negative net worth due to a huge dividend payout ahead of an IPO.
Rakesh Gangwal had raised concerns that various RPTs involving Bhatia's InterGlobe Enterprises Group were executed without seeking the audit committee's approval and without seeking competitive bids from third parties.
West Asian carriers are up against Air India and IndiGo in the battle for seats on lucrative international routes.
No frills airlines SpiceJet and IndiGo have merged fuel surcharge with the base fares, saying it would simplify the prevailing fare structure.
Among the impacted flights, Air India's flight AI 185 from the national capital to Vancouver that was to depart early in the morning was rescheduled.
Currency depreciation also hits earnings of all domestic carriers
ir India provided facilities such as refreshments, refunds.
