Singapore Airlines will face intense competition from AirAsia, which will launch its India operations later this year and Tiger Airlines, in which it holds a stake.
Malaysian state investor Khazanah Nasional, which owns nearly 70 per cent of the airline, said it had submitted a proposal to the Malaysia Airlines to delist the company. Under the plan, minority shareholders will be bought out.
A consortium of lenders led by State Bank of India (SBI) has agreed to provide loans to Tata Group for the smooth operations of loss-making Air India. Tata Group, which won the bid to acquire the national carrier along with Air India Express and 50 per cent stake in AISATS in October last year, is expected to formally takeover the airline on Thursday. Sources said the SBI-led consortium has agreed to grant both term loans and working capital loans depending on the airline's requirements. All large lenders, including Punjab National Bank, Bank of Baroda, and Union Bank of India, are part of the consortium, they added.
The government has notified the agreement between Air India and special purpose vehicle AIAHL for the transfer of non-core assets, ahead of the national airline's takeover by the Tata Group. The government had in October last year, inked the share purchase agreement with the Tata Group for the sale of national carrier Air India for Rs 18,000 crore. The Tata Group is expected to take full control of the airline, it founded in 1932, on Thursday. The cash component of the deal would come once the handover process is completed. The Tata Group would pay Rs 2,700 crore cash and take over Rs 15,300 crore of the airline's debt.
The Indian cricket team on Tuesday returned home after a successful Test and one-day series in Bangladesh.
Say goodbye to train journeys as a surprisingly large number of low-cost airlines prepare to slug it out. Take the Rediff Business Quiz and find out how much you know about the new battle in the Indian skies.
10 recipes our readers savoured this year.
Customers of Indian, formerly known as Indian Airlines, can avail of online reservation facilities beginning from this year-end.
The nine-member team is enquiring with the airlines' staff and concerned authorities in Pokhara to understand details of the ATR-72 aircraft crash.
The announcement came as Prime Minister Pushpa Kamal Dahal 'Prachanda' called an emergency meeting of the council of ministers following the crash.
Its association with India is over 70 years old and spans both civil and military aviation. The Douglas DC-3 transport aircraft used by the air force beginning the 1940s and the iconic Boeing 747 aircraft flown by Air India, both had Pratt & Whitney (P&W) engines. The Indian Air Force's present-day, heavy-lift C-17 Globemaster III and the yet-to-be-inducted C-295 planes, too, have P&W power plants.
'I would put my hand in the ground and have a little listen to what the mountain was doing.' 'Actually, it was still collapsing.' 'And there was a very real possibility that at some stage, without warning, the collapse could continue -- and continue across us, the people who were doing the rescue and also across to the men on the other side, who were being rescued.'
'The unity among Israelis is such that the killing of the many Israelis is like a personal loss.' 'They feel as if they have lost someone from their own family. The whole of Israel is sad.'
But the regulator has dropped the proposal of asking flyers to maintain 30 seconds of silence.
That such a deal can be greeted with celebration in the camps of both buyer and seller speaks volumes about the airline and its recent history, explains T N Ninan.
International and Indian airlines are refusing to refund cash and giving credit that can be used later.
Looks like the good folks at the ministry of civil aviation have requested our airports and airlines to play Indian music at airports and during flights as part of its culture promotion initiative.
Manika Batra has lost her baggage containing sports equipment, while returning home from a tournament in Peru
The air carriers' liability and insurance draft bill has proposed a five-fold increase in compensation in case of death or injury, the report said.
Full service carrier Air India on Thursday announced a new multi-year global distribution services partnership with US-based Sabre Corporation. The collaboration enables travel agents and corporations around the world to access Air India fares and seats through Sabre's extensive global travel marketplace, Air India said in a statement. In addition to the distribution services, Air India said it is utilising Sabre's consultancy expertise to help determine optimal routes for its existing and new fleet.
Tata Group's takeover of loss-making national carrier Air India is most likely delayed by a month till January as the completion of procedures taking longer than expected, an official said on Monday. In October, the government accepted the highest bid made by a Tata Sons company for 100 per cent equity shares of Air India and Air India Express along with its 50 per cent stake in ground-handling company AISATS -- the first privatisation in 20 years. At that time, the government had stated that it wanted to complete the transactions, which included Tatas paying Rs 2,700 crore in cash, by December end.
Canada has denied permission to convicted hijacker and terrorist Parminder Singh Saini to practise law citing dubious past, including hijacking of an Indian plane 26 years ago. The Law Society of Upper Canada rejected Saini's plea to allow him to practise in Greater Toronto.
A large group of high-profile personalities from corporate India on Saturday left for Lahore on a chartered aircraft of the Indian Airlines to watch the third one-day international match between India and Pakistan on Sunday.
After allowing FDI by foreign carriers in their Indian counterparts, the government has put in place provisions to prevent Indian airlines from being controlled and managed by the foreign investor.
At Rs 919 crore, InterGlobe Aviation, the parent firm of low-cost airline IndiGo, posted its best-ever fourth quarterly net profit in the January-to-March quarter (Q4) of financial year 2022-23 (FY23). The bottom-line, however, was lower than the Street's expectations where estimates ranged from Rs 1,160 crore to Rs 2,180 crore. On the bourses, shares of IndiGo have added just 30 paise (0.01 per cent) since the announcement of the Q4-FY23 results on May 18.
According to a calculation by the government, India's airlines currently have 633 aircraft of which they may operate only 200.
On May 1, SpiceJet's Mumbai-Durgapur flight encountered severe turbulence during its descent phase, injuring 14 passengers and three cabin crew members.
While IndiGo carried 16.82 lakh passengers, a 59.4 per cent share of the total domestic market, SpiceJet flew 3.91 lakh passengers, which is 13.8 per cent share of the total market, the DGCA data noted.
The government has initiated the process for inviting financial bids for the sale of national carrier Air India and the deal is likely to conclude by September, sources said. Salt-to-software conglomerate Tata Group was among the "multiple" entities that had put in preliminary bids for buying loss-making Air India in December last year. The sources said that after analysing the preliminary bids, eligible bidders were given access to the Virtual Data Room (VDR) of Air India, following which investors' queries were answered.
As two more bodies were recovered from the accident site on Tuesday, the total number of confirmed dead has climbed to 71, Nepal Army spokesperson Narayan Siwal said.
Painting a gloomy picture, the International Air Transport Association (IATA) on Friday said the Indian aviation industry is estimated to suffer a collective loss of $1.5 billion in 2009, with Air India accounting for most of it.
Air India said it has also written to the Shiv Sena communicating the decision to cancel the ticket. Shiv Sena Secretary Anil Desai said that he has asked Gaikwad to change his travel plans as the party doesn't want the tensions to escalate.
Gul is the sixth individual to have been designated as a terrorist by the Centre in the last fortnight.
The Directorate General of Civil Aviation (DGCA) on Tuesday made it mandatory for major airports to provide free automated buggies within their terminal to senior citizens, expectant mothers and the physically-challenged.
The government on Monday issued a letter of intent (LoI) confirming the sale of its 100 per cent stake in loss-making Air India to Tata Group for Rs 18,000 crore, a senior official said. Last week, the government had accepted an offer by Talace Pvt Ltd, a unit of the holding company of salt-to-software conglomerate, to pay Rs 2,700 crore in cash and takeover Rs 15,300 crore of the airline's debt. Subsequent to that, an LoI has now been issued to Tata confirming the government's willingness to sell its 100 per cent stake in the airline.
The city's Chhatrapati Shivaji Maharaj International Airport (CSMIA) has decide to once again consolidate its flight operations to one terminal -- T2 -- from April 21 amid the rising number of Covid-19 cases in the city.
On a busy corporate route like Delhi-Mumbai, hand luggage fare can be cheaper by at least Rs 500-Rs 800.
According to Boeing, India would need 1,940 single-aisle planes worth $220 billion and 350 wide-body aircraft valued at $100 billion.
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